Almost one third of businesses admit that they are slow to adopt technological innovations, according to a new study.
A survey of senior managers at 400 UK businesses by TomTom Telematics has found that 31% of firms say they are slow to adapt to technological change. In addition, 32% say they still use paper-based records to store business-sensitive information and 53% say they use spreadsheets.
But despite these findings, 82% of those polled said they believe it's important to use the most up-to-date technology.
"Slow or late tech adopters risk falling behind the curve and, as a consequence, potentially damaging their competitiveness," said Beverley Wise, director UK & Ireland at TomTom Telematics.
"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."
The findings show that the biggest barriers to tech adoption are:
- Cost, cited by 36%;
- Difficulties introducing new systems (16%);
- Lack of time to invest in research and implementation (15%);
- Resistance among employees (11%).
"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," said Wise.