Is a failure to embrace technology costing UK businesses?

Technology has advanced considerably in the past decade but new research suggests many businesses are still using outdated practices and equipment.

According to communications and IT firm, Daisy Group, around half of UK businesses are still using methods from the 1990s and early 2000s.

Some technology and operations were significantly behind the times and this could be impacting on business performance and productivity.

Although cloud computing for data storage is now widespread, 61% of staff questioned said that filing cabinets are still actively in use in their workplace.

Similarly, 46% said their employer still uses a fax machine to send documents to clients, rather than by using modern tools such as email or Dropbox.

Some 8% of businesses even admitting to still using floppy disks – despite the fact they are not compatible with many modern PCs and laptops.

Given the fast pace of the business world, staying ahead of the competition is important but it seems many firms could be struggling to achieve this.

Technology is a necessity for many firms and those who are not adapting to contemporary practices could be losing out.

Not only can failing to update technology impact on productivity, but it can also damage security, customer relations and even influence the levels of financial returns that are available.

Despite new regulations relating to workplace flexibility being introduced in 2014, some 84% of those questioned said they were not encouraged to work flexibly – either from home or remotely.

With businesses seemingly slow to adopt new technologies and practices, many could be left counting the cost by not looking to the future.

Should impacts be felt on the bottom line, a company could consider a complete overhaul to improve how the company is run and managed.

Restructuring may seem like a radical change, but the benefits can be felt in the long-term as business practices and the financial situation can both be improved.

Even the step of having a quick and reliable internet connection could make a huge difference to a company.

By Phil Smith

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