Businesses are missing out on the huge potential that social networks present, a leading information technology company has warned.

Researchers for Gartner found that huge opportunities for improving the management of large firms exist.

"Businesses which harness how employees use these sites stand to increase savings, productivity and profits," said Gartner researcher Jeffrey Mann.

He told the BBC the challenge was how to apply this to the corporate world.

The Gartner survey discovered that social networking sites, instant messaging email, chat and file sharing are attracting significant levels of interest online.

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