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Super-fast, next-generation broadband services will change how many companies do business, it has been suggested.

According to Bill Murphy, the Managing Director of broadband provider BT, fibre-based internet services are likely to "transform" the way many firms access software and services.

He explained in an interview with the Daily Telegraph that one trend which is expected to be huge will be cloud computing, as companies would save on physical space by using online data storage.

"They may not even need a server in the office. They will be able to access or lease an information technology infrastructure," he outlined.

Mr Murphy added that software providers may also be able to better protect their intellectual property and cut the cost of products through the use of the cloud.

Last week, Stuart McIntosh, a competition partner at communications regulator Ofcom, claimed that next-generation broadband could be "potentially a world changing issue".

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