Without agility, many SMEs are dead by 2023 at the latest
Agility is essential for the survival of SMEs: in a survey, half of executives say that otherwise they will cease to exist by 2023. Technology-enabled productivity and innovation are thus seen as crucial factors for continued success.
Improving agility is a top priority for SME leaders in Europe looking to take advantage of a digitally-enabled workplace. According to a recent study commissioned by Ricoh Europe, the majority of SME executives surveyed in Switzerland (87 %) said they are actively focusing on improving business agility in 2018.
Technology for more agility
More than half of survey respondents (57 %) are adopting new technology specifically to respond more quickly to trends and opportunities, while 76 % say they would fail within 5 years without the benefits of updated workplace technology. Decision makers in small and midsize businesses clearly prefer technology that directly addresses key employee needs. They believe automation (63 %), data analytics (51 %), document management (51 %) and video conferencing (59 %) will have the strongest positive impact on their business.
Javier Diez-Aguirre, VP Corporate Marketing, Ricoh Europe comments: "The European SME community is extremely ambitious. Due to challenging market conditions, business leaders are rightly keen to discover new opportunities early and take maximum advantage of them. They know that staying agile is essential to profitably capitalize on changes in the marketplace, and they appreciate the role of technology in doing so. Of course, agility is high on the agenda of small and medium-sized enterprises, and business leaders don't just see it as an issue for larger competitors."
Pragmatism instead of hypes
The benefits of smarter workplace technology in terms of productivity and innovation are seen as a critical factor for business success. 72 % of respondents said their company's ability to succeed is based on technology and showed strong confidence in the value of a digitally-enabled workplace.
Diez-Aguirre adds, "SME leaders are not blinded by the hype around technologies like virtual reality and blockchain. Instead, they are choosing carefully and prioritizing investments in tools that have a real positive impact on the bottom line. Those that haven't already must carefully consider how technology can allow their employees to work faster and smarter, making their businesses more agile. Otherwise, they may soon find they are facing extinction as the market evolves without them."
Source: www.ricoh.ch
