Business Technology

Monday 16 September 2019

Over half of SMEs believe new workplace technology crucial to business success

Chas Moloney, Director, Ricoh Ireland and UK
Chas Moloney, Director, Ricoh Ireland and UK
Louise Kelly

Louise Kelly

The majority of SMEs believe that technological innovation in the workplace is essential for ongoing success.

Over half of industry leaders (52pc) said that their business will fail within five years if they do not respond to the latest tech trends, according to a recent Ricoh Europe study.

Furthermore, linking innovation and productivity, 70pc of respondents said that technology helps them compete effectively with market competitors.

"It is evident that there is a strong link between increased output and a digitally enabled workplace. Due to the ever-changing nature of the industry, business leaders are quite rightly making sure that they are identifying and embracing new opportunities," Chas Moloney, Director, Ricoh Ireland and UK, said.

Almost three quarters (72pc) of the small business leaders said that automation will have the most positive impact on their organisation.

Data analytics (64pc), document management (62pc) and video conferencing (56pc) were also noted as crucial tools required for success.

"Staying agile and being ambitious is vital if SMEs in Ireland are to capitalise on market changes. Technology is central to this in that companies needs to invest in the right tools which will have a real and positive impact on their bottom line. Those that haven’t already could find themselves being left behind."

The research polled 1,608 SME leaders across Europe, including Ireland.

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