Businesses that embrace new technologies are at a significant advantage to those that don’t, according to research showing a link between the importance businesses place on IT and their rate of growth.
The study by Cisco Systems found that business leaders of high-growth companies are more likely to view their IT network as a vital, strategic asset than companies with static growth (59% compared to 40%).
They are also twice as likely to have flexible working capabilities, and almost seven times more likely to have Wi-Fi networking across their offices.
Nick Watson, vice president for enterprise business, Cisco UK & Ireland, commented:
“With British businesses contending with increasingly tight markets, stronger competition from overseas, and key labour shortages at home, companies are turning to strategic technology investments to help them improve operational efficiency, cut costs and drive business growth.
“However it is clear from the research that without support from business managers, technology investments alone cannot necessarily drive positive business outcomes.
“The IT network can provide the platform for new and productive working experiences, but the bottom-line growth is only really guaranteed when executives show leadership and support for IT in their organisation.”
The vast majority (78%) of business leaders believe their IT network is very important or vital to their business, but the study also showed that smaller firms still have less focus on technology than their larger counterparts.
Less than half of small or medium-sized businesses said they had remote working technology capabilities, compared to 67% of larger companies.
© Crimson Business Ltd. 2007
