Originally written by Colin O’Flaherty on Small Business
Over the past 10 years alone, technology has changed the world almost beyond recognition. In a time when cloud computing, big data analytics and digital-first consumer experiences are the norm, it is hard to believe that it was only in 2009 that music streaming went mainstream and the video-on-demand market exploded.
Against this backdrop, American Express’ latest research into the business strategies of the UK’s small and medium sized enterprises found that these businesses are prioritising harnessing the latest technology to unlock growth and opportunity. In fact, almost two-thirds (65pc) of SMEs believe that digital technology will create new business opportunities, while the majority of UK SMEs rank adopting the latest tech as one of the top business challenges they’ll be working hardest to address over the next three years.
>See also: Upgrading business technology – new vs refurbished
The UK’s SMEs are also clear on the types of technologies they want and need. The top three they plan to implement in the next three years are workforce productivity tools, faster and more reliable communications systems and integrated enterprise-wide software platforms and enterprise applications. In addition to these more functional applications, SMEs also have big plans