Technology can be a key driver of change, revolutionising business performance.
For meaningful digital transformation to occur however, it must be adopted and utilised effectively.
According to the latest study from TomTom Telematics, 85 per cent of Europe’s businesses recognise that it’s important to use the most up-to-date technology. However, more than a quarter (26 per cent) still admit to being slow to adopt technological innovations.
Furthermore, more than half (57 per cent) have invested in technology over the past five years that has been underused.
This research lifts the lid on the challenges faced, including the barriers to adoption and the reasons behind some businesses failing to harness the true potential of their investments.
Discover the full findings from the study, conducted among 2,400 senior business managers, in our infographic below:
Appropriate digital strategies and the integration of technologies into core business activities can simplify vital processes and hold the key to improving operational efficiency. Those companies that are failing to embrace data-driven decision making risk falling behind the curve and damaging their long-term competitiveness.
The more advanced and intuitive of the technologies available today – from telematics and enterprise resource planning (ERP) software to customer relationship management (CRM) and financial forecasting solutions – are being developed by suppliers that embrace connectivity and customer-centric intelligence.
Although more than a third (36 per cent) of business say they feel overwhelmed by data, and 44 per cent say they lack the resource to analyse it, technology has become ever smarter.
The connected world of business can now ensure data is collated on a single platform, and that only relevant information is fed back to via customised reports on a single user interface.
Not all technology vendors are created equal of course, and this study has reinforced the importance of businesses conducting due diligence before they sign on the dotted line. Forty-two per cent currently feel they receive a lack of guidance and support from their supplier and a third said their tech investments were incompatible with existing systems.
The caveat emptor message is clear – ask the right questions. Find out what support services preferred suppliers offer, for example, what training is provided, if their solutions offer open APIs to integrate seamlessly with other systems and if they are future-proofed so they can meet your future business needs.