Transformative technologies are revolutionising the way the world does business. While the potential benefits are huge for forward-thinking companies, the dangers of being left behind by more tech-savvy competitors are just as large.
This has left many companies wondering how to make the most of disruptive technologies without smashing their budget or tying themselves to tech that will soon be obsolete. New research from TomTom Telematics puts these challenges under the microscope, in a study designed to help you better understand business in the ultra-connected, data-driven world.
Productivity the driving force
The research, which sought the opinion of 1,400 business managers in seven EU markets, shows businesses driven to adopt new tech by a desire to work more effectively, better engage their customers and improve employee management. Equally, however, it shows them to be discouraged by a scarcity of reliable information, fears about data security and the threat of obsolescence.
Twenty-five per cent of respondents cite increasing productivity as their core motivation for adopting new technology. This is followed closely by ‘improving customer service’, which received 17 per cent of the vote.
Respondents also stress the importance of tech in attracting, retaining and motivating employees, with 84 per cent agreeing it’s vital for this purpose.
On the flipside, 63 per cent feel there’s a lack of reliable advice on new technology systems, while 46 per cent fear any new tech could be out-of-date in three years.
For a more complete overview, please check out our report, which lists wider findings from our global research, with some helpful analysis and advice.
Large companies leading, SMEs following
It’s clear that large companies in particular recognise the power of disruptive technology, with an impressive 80 per cent regarding themselves as early tech adopters. For SMEs, however, this figure drops to 57 per cent, raising the question of whether tech providers should be doing more to empower SME decision makers to think ahead of the curve.
The risk of disruption
While there seems to be consensus that the disruptive power of new processes like the Internet of Things (IoT) is crucial to retaining a competitive edge, fears regarding the negative effects of adopting such technology remain strong. 46 per cent of respondents cite the threat of data security breach as a cause of reticence, while 58 per cent feel that tech providers aren’t doing enough to maintain data confidentiality, integrity and availability.
A search for reliable guidance
Another common theme that runs throughout the study is a frustration amongst respondents with the lack of information available to them when looking to introduce new tech. Alongside the above-mentioned complaint regarding a shortage of reliable advice, 29 per cent listed lack of information about providers as a core challenge when searching for a new tech provider.
Disruptive technology will continue to change the working world at a rapid pace. While it’s vital that companies adapt to these changes, it’s equally vital that they do so with accurate, first-hand information regarding the core challenges. The latest research from TomTom Telematics offers an essential primer on the issues companies like yours are having with new tech adoption. Be sure to check out the full report to give yourself a clear picture of this hugely important issue.