So said Pablo Picasso. Well, we may not have all the answers but we do have the results of the region’s first survey looking at how businesses are making use of technology.
The South West is made up of thousands of businesses. Most are SMEs and most know that technology is important. But how many are truly harnessing technology for maximum benefit?
Here at Timewade we wanted to find out. So, back in October 2019 we launched the Technology for Success survey.
The results, gathered over two months, inform the Technology for Success report which offers insight, reveals challenges and highlights opportunities for South West businesses.
The report was launched at the Technology for Success business group at Exeter Science Park on Friday 24 January.
Business leaders from across the South West including Stephens Scown, Bishop Fleming, King Recruit, Alderman Tooling, Cathedral Appointments, Pecorama, Time Well Spent, Sarah West Recruitment, DS Callards, Questae Ventures and the Family Law Company attended, to discuss the report’s findings and share views about their own experience of technology within organisations.
In my opinion, the findings are clear. Companies need to be more strategic. Only 51% of respondents said technology informs their overall strategy across the whole business.
Encouragingly, the findings show that organisations are starting to think about new types of technology. 91% think it is very important to have a long-term strategy for improving IT systems and technology.
The biggest barriers stopping South West businesses making the most of technology are cost, lack of knowledge to make the right decisions and a lack of time to focus on improvements to existing technology.
Through the Technology for Success report we’ve not only identified what the barriers are, but also provided top-tips and a strategic framework for businesses to improve how they make best use of technology.
We know it takes time, effort and resources but there is a productivity gap in the South West and technology is definitely one of the biggest ways we are going to close it and become more competitive as businesses and overall as a region.
To learn more, download the Technology for Success report and start your Technology for Success journey today.