By Glenn Clifford-Perkins, accounting partner, Armstrong Watson
Digital technology is crucial for businesses to succeed, and by embracing the digital world, your business is more likely to thrive and achieve sustainable growth.
Research suggests the smallest businesses in the UK could generate an additional £77.3 billion in revenue (almost £15,000 on average per business) and create 885,000 new jobs if they digitised at the same rate as the top 20% of tech adopters.
Overcoming the ‘digital drag’
Digital drag refers to the energy and resources businesses lose when they don’t adopt digital tools. This can lead to increased costs, reduced productivity and missed opportunities.
Overcoming the digital drag can be straightforward and many businesses are beginning to recognise the benefits of adopting digital tools.
You can transition your business into the digital era by taking a few simple steps:
- Identify digital needs
- Choose user-friendly and affordable digital tools
- Train employees to use digital tools effectively
- Adopt a digital mindset that prioritises innovation and change
Advantages of adopting digital tools and practices
- Overcoming digital drag provides businesses with numerous benefits including:
- Increased revenue: Automating tasks, improving customer service and expanding market reach can boost revenue.
- Reduced costs: Eliminating manual processes, minimising errors and enhancing efficiency can lower expenses.
- Improved productivity: Digital tools can automate tasks and provide real-time information, leading to increased productivity.
- Greater customer satisfaction: Enhanced customer service and convenient interactions can foster improved customer satisfaction.
The digital age is here to stay, and if you embrace digital tools, your business is more likely to be able to compete.
By selecting the right new technology solutions for your business and maximising their potential through training and integration with other apps and software, you can transform your business, enabling it to thrive in the ever-evolving digital landscape.
If you would like more information and advice about adopting more digital technology in your business, please call 01768 222030 or email help@armstrongwatson.co.uk
