76 per cent of the UK’s SMEs could be missing out on profiting from online business by not making their websites mobile-friendly, a new report has found.
The latest Lloyds Bank Business Digital Indexrevealed that in the past 12 months, while there has been an 18 per cent increase in the number of small businesses that can make payments via smartphones, 65 per cent of small business websites are still not ‘mobile-friendly’ and therefore potentially missing out on the growing numbers of ‘mobile-first’ spenders.
The report highlights the benefits linked to greater technology skills, with a third (33 per cent) of firms – around 1.3m small businesses – reporting increased turnover and time-saving as a result of being more tech-savvy.
The findings show that businesses without essential digital skills are almost two and a half times more likely to be shutting down their business within the next two years, compared to those with full digital skills.
Meanwhile, businesses with more advanced digital skills are seeing a return on their investment, with an average turnover of £754,000, which is £260,000 higher than the average business polled. They have also seen a 21 per cent increase in turnover in the last two years, saving one day per week by adopting more technology-based processes.
In 2018, small businesses with cloud-based systems, online accounting software and digital training tools had an annual turnover of £103,000 more than those without. This year, the difference more than doubled in 12 months to £262,000.
Tony Danker, CEO at Be the Business, said: “As the 2019 Business Digital Index shows, tech adoption can be transformative for small businesses and the broader UK economy.
“Combining the right skills with the right technology will unlock huge productivity gains for small businesses. The benefits can’t be ignored. Every business leader should embrace these six essential digital skills as part of their path to growth.”
The Digital Index found that SMEs younger than three years old have better digital skills, with 63 per cent of this group having the highest level of capability – 18 per cent more than those SMEs older than ten years in the same group.
Nick Williams, deputy group transformation director at Lloyds Bank, said: “As more small businesses adopt an increasingly digital mind-set and step up their game on staying safe online, they are seeing improved skills translating into increased turnover and productivity.
“Using social media as an opportunity for growth is firmly on the radar, catapulting greater skills in these channels up the most-wanted list. In a world where more people are doing more in their everyday work and personal lives with mobile devices, small businesses are putting increasing energy into keeping pace, with more than double the proportion now having mobile-optimised sites. However, those failing to adapt have been left behind in a competitive marketplace.”
The use of social media for business continues to grow. More than half of small businesses use social media to communicate with suppliers and customers. Facebook is the most popular, with 58 per cent of businesses using the networking site, while Twitter use is up from 39 per cent to 48 per cent over the last year.
The business value that can be realised from workflow automation is much more than higher efficiency, better time management, and an increased level of organisation.
The core competency of a company lies in how it operates and serves its customers relative to its competitors, and workflow lies at the heart of a company’s operations. Organisations are also looking to gain competitive advantage across the entire value chain, and the ability to effectively collaborate with colleagues, customers and partners anytime, from anywhere, is crucial.
Nowadays, little in business does not involve some sort of a process. But the increasingly global nature of business, with colleagues and customers working in offices and on mobile devices spread across the world, is driving an evolution in how business processes are automated and deployed across organisations. Technology is transforming the way people work. It’s one of the biggest influences on how people within a business connect, collaborate and communicate.
Workflow automation has the potential to help companies get ahead and stay ahead of their competitors by constantly improving everyday processes.
“It’s no longer just what you do that counts. It’s how you do what you do – and how quickly you can modify your business processes to take on new opportunities and challenges – that’s really important.” Andy Mulholland, Jon Pyke, and Peter Fingar, “Enterprise Cloud Computing – A Strategy Guide For Business and Technology Leaders“
Digitisation provides endless opportunities to create new value for an organisation’s products and services. But this value won’t be realised if you merely insert digital technologies into existing business processes, rather than rethinking the work that is the essence of the business process.
With Castle’s outsourced provision, we deliver a cost effective and streamlined solution to significantly improve your business process. Contact Us today for a free, no obligation appraisal of your current business process.
Source: CMS Wire
The mailroom is responsible for managing your most valuable documents and sensitive information. Outsourced mailroom services can address a range of operational issues.
Using high-volume production scanners and a combination of manual data entry, automated form classification and intelligent data capture systems, we transform your paper documents into digital information delivered quickly and efficiently to the right people at the right time. Our digital mailroom solutions incorporate time and cost-saving improvements for mail workflows, and all associated business processes.
Working with you towards a solution
Our consultants work with you to help you understand your current service and identify areas for improvement to efficiency and effectiveness. We deliver financial value through precise process efficiency and technical innovation. By providing a professionally managed digital mailroom service, with clearly defined SLAs, we help you improve the service you offer your clients. We introduce transparency and control through streamlined processes and detailed management information.
Significant savings and improvements
– Eliminate costly mailroom overheads
– Reduced paper storage costs
– Eliminate delays in receiving important mail items
– Save time by receiving electronic post instantly
– No need for costly equipment, maintenance and consumables
– Improved compliance and visibility
– An auditable process
The effective management of your mail can impact on the success of your business. Contact Us today to find out how we can help your organisation.
…yet 95% recognise the benefits, says new survey
Only 15% of UK organisations are using document management in the cloud, despite 95% believing it can deliver business benefits, according to a new survey by business automation software provider V1. The survey was carried out among senior IT and finance professionals from 79 organisations across the public, private and third sectors.
Cost-effectiveness was highlighted as the main benefit, with 28% of responses stating this would be the prime advantage of using the technology. Providing 24/7 access to documents was also identified as being key, with 26% of responses admitting this, and 17% said providing greater support for remote working would be the primary driver.
Although only 15% of the survey’s respondents revealed that they are using document management in the cloud, almost two thirds (62%) highlighted that they would consider accessing and sharing documents in this way in the future.
V1, says, “The rewards of using cloud-based document management technology are evidently clear to organisations which recognise the flexibility and cost savings it can bring. However, what is also apparent is that despite recognising these benefits, many organisations are not taking advantage of them.” This survey also revealed a 10% increase in companies using document management in the cloud, compared to the same questionnaire conducted by V1 in 2012.
V1 adds, “The number of businesses utilising document management in the cloud is rising as more recognise the increased agility it can bring them while putting security fears aside. As well as being cost-effective, it also supports remote working with access to documents from anywhere at any time – a must in today’s workplace.”
Source: Document Manager
Why not make the transition from hard copy to electronic storage of documents? It’s easier than you think, click on the link…