Updated: May 6
A recent global survey paper indicates that companies are looking to gain a competitive advantage by focusing on enhancing innovation and efficiency. Among responses, respondents cite improved productivity as a top source of competitive advantage.
Executives expressed similar opinions about their company's growth strategy over the next 12 months. Across all respondents, 29% said increased productivity was their number one priority growth strategy, more than any other category. In the Americas, more than one-third of respondents suggested productivity as their primary growth strategy. Boosting productivity was selected before the digital transformation, foreign expansion, or business model innovation.
So how does productivity relate to technology investments – a logical relationship between preferences and spending – for companies? The top three places of potential technology investment for tech companies over the next 12 months include computer hardware/software, data analytics/business intelligence, and information security. We notice examples of these priorities among private company clients using technologies to boost managerial efficiency, incorporate analytics-based insights into the workplace, and focus on information security capacities to estimate cyber risk better.
Increasing productivity is an objective within reach for those private companies that benefit from rapidly accelerating technology developments to raise productivity for their teams and the bottom line.
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