Over half of business owners are trying to gain a greater understanding of the IT services they use in a bid to slash costs, says Fasthosts.

Research by the website hosting firm also revealed that 45 per cent of firms believe they have been over-charged for an element of an IT services.

A quarter of businesses that use a dedicated website hosting company admitted they were looking to negotiate costs this year, as firms struggle to beat the recession, while 26 per cent said they planned to review server costs in the coming year.

"Every business owner understands the importance of procurement. One should review their web solutions periodically, and push through necessary changes. In a challenging operating environment, it is imperative that every business gets what it pays for and pays only for what it needs," said Steve Holford from Fasthosts.