Embracing Technology in the Face of Volatility

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Epicor recently released their 2020 Global Growth Index which explores the growth trajectory of companies around the world and provides insight on how leaders are using technology to support and drive initiatives. The index is based on a survey of 2,002 professionals across 23 countries, with all respondents overseeing or performing essential duties that inform business decisions for their organisation. Industries represented included manufacturing, distribution and shipping, retail and e-commerce and survey respondents represented organisations with 100 employees to 5,000+ employees worldwide.

Key themes identified include:

Investments in AI and Big Data are paying off

  • AI is driving growth and proving worth the investment for most organisations, with more than 80% of respondents reporting that AI delivered business value in 2 years or less
  • Big data analytics is driving growth and proving worth the investment for most organisations, by optimising operations (42.7%), increasing sales (44%), and improving profitability (45.3%).

Cloud is poised to be a priority

  • Cloud technology is set to be a key strategic priority, with one out of four respondents saying they will prioritise investing in it in 2020
  • When asked about key technology trends that are expected to be emerging over the next 12-18 months, cloud was chosen as the second most likely to have the biggest positive, direct impact on future industry growth.

The report’s findings also showed that companies across the globe are embracing technologies to offset the impacts of global volatility, such as COVID-19 and supply chain disruptions. These market conditions are fuelling the need to enhance business resilience over the next 12 months, with companies prioritising better technology (41.4%), better planning (38.9%) and working more efficiently (40.9%). Specifically in Australia, most companies surveyed are using excellent customer service (42.1%) and big data analytics (47.1%) to increase competitiveness.

Contact us to find out how Biscit can help you identify and configure the best software solutions to deliver the best customer service and increase your competitiveness.

Acknowledgement: The above is based on an original article published by Epicor.

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