Emerging Technologies. Is your Business at Risk?
Emerging technologies like cloud computing, automation, Internet of Things (IOT) and geospatial solutions are increasingly being adopted across the mid-market, those that choose not to embrace these digital tools risk falling behind.
“A surprisingly large number of businesses are unprepared for the levels of disruption we are likely to see through the introduction of new technologies, nor are they willing to invest in research and development necessary to help transform their own business in the face of rising pressures and a growing skills crisis.” Says Carolyn Luey, GM Enterprise Solutions & New Zealand at MYOB.
The MYOB Enterprise Report measures the performance of the Australian mid-market and delivers insight into the challenges businesses face and identifies growth barriers. 276 businesses from across the country were interviewed, representing a wide range of sectors.
Only 12% of Western Australian enterprises expect automation and robotics to impact their industry between now and 2028. In contrast 41% of manufacturing and mining enterprises across Australia said they believe automation and robotics will alter their industry.
The average amount a business invests in innovation is just 1.5% of their revenue. This reluctance to invest could be holding businesses back. As the economy changes and new competitors enter the market, the ability to innovate will be instrumental to business success.
Deloitte’s recent report notes that, “Autonomous robotics have the potential to improve operations, and they offer new opportunities to increase productivity, reduce risk, decrease cost and improve data collection, particularly as customer expectations and volumes of packages, shipments and orders reach unsustainable levels for traditional approaches.”
Addax Business Solutions is seeing an increasing trend in the adoption of these emerging technologies. With over 30% of our customers choosing to host their enterprise applications with AOD-Cloud Services and a growing number of businesses adopting cloud native solutions such as MYOB Advanced.
“It is a really exciting time to be investing in emerging technologies. We’re currently working with one of our larger customers, exploring a geospatial solution that will integrate with MYOB Greentree. This visual representation of data makes it much easier to understand, allowing us to think laterally and outside the box”. Geoff Graham, Business Development Manager, Addax.
If you are ignoring the spatial component of your data, your business really could be missing out. “Properly analysing location can provide insights that support and improve decision making in everything from marketing to supply chain logistics and operations” Gartner, 2017.
Western Australian businesses are also hungry for new tools, looking for new ways to access and input their data. Mobility takes centre stage, with over 40% of Addax customer’s already using or actively pursuing a mobile solution for their business.
While there’s no doubt that these emerging technologies will change the business landscape over the next ten years, is your business planning for this disruption?
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