Nearly a third of all UK businesses surveyed for a new study have admitted to being slow at adopting technological innovations.
Despite increasing advances that streamline and automate many business operations, as many as 32 per cent still use paper to store business-sensitive information, while others are still way behind when it comes to delivering multi-platform content and being active through digital marketing.
“Slow or late tech adopters risk falling behind the curve and, as a consequence, potentially damaging their competitiveness,” said Beverley Wise, UK & Ireland director at TomTom Telematics, the company who conducted the research.
“Effective long term digital strategies and the integration of technologies into core business activities can hold the key to simplified processes, helping improve operational efficiency, productivity and sustained levels of growth.”
Somewhat surprisingly, even though a large portion of the 400 UK senior manager respondents admitted to being behind when it came to the latest technology, 82 per cent agreed on the importance of using the most up to date technology when it came to their businesses.
The number one barrier to tech adoption was cost, with 36 per cent seeing it as a prohibitive factor. A further 16 per cent said they faced difficulties introducing these new systems, while 15 per cent said they didn't have the time to invest, research and implement such measures. Another 11 per cent said they faced resistance to modern technology from their workers.
Wise commented on these findings: “Companies should look beyond the short-term pain of any initial outlay – an investment in business technology that is implemented and used effectively can result in a significant and swift return on investment.”
“Clients that have adopted advanced telematics systems, for example, have demonstrated returns after just three months. Moreover, the right technology partner should be able to offer the requisite support to help minimise any business disruption and help ensure easy and timely implementation.”
The business is a well established operating for over 25 years. The business has a reputation for quality and service representing nine premier manufacturers. Supply’s to carpentry and joinery trades (B2B) and the DIY and hobbyists (B2C) markets.
The business is an established and reputable engineering company based in Oxfordshire. Well-spread client base with considerable growth potential. 2,230 ft.² fully equipped workshop, storage and office plus yard and parking.
The business is an award winning business with healthy trading history in prime central trading location in historic North Gloucestershire town, and an excellent net profit to the owner. Very well presented and equipped premises with ample cold stora...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join over 2,500 people today.
Get news on businesses for sale and companies in administration straight to your inbox