31% of UK Businesses are Slow in Adopting New Technology: Don't Be Like Them

Sep 25, 2017

If there's one thing that shouldn't be holding you back when it comes to business, it's the technology that runs it. Not in 2017.

Yet it will come as no shock that many of us are falling behind on that front.

In fact, according to a recent study by TomTom Telematics, over 31% of UK businesses admit that they are slow in embracing new technology.

Research conducted on senior managers from 400 companies found that one in three organisations still use paper to store sensitive data, and more than 53% of businesses still use spreadsheets.

"Slow or late tech adopters risk falling behind the curve", warns Beverley Wise, Director, UK & Ireland at TomTom Telematics.

She explains: "[And] as a consequence, [they are] potentially damaging their competitiveness.

"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.”

Cost has been highlighted as the biggest barrier to tech adoption in 36% of businesses, despite the fact that 82% of managers believe it's important to keep up with the most up-to-date solutions.

But should costs be holding you back?

"Companies should look beyond the short-term pain of any initial outlay", advises Wise.

"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."

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