Solving the low productivity conundrum
The puzzle of why we continue to suffer from low productivity in the UK has been pre-occupying our business leaders of late and it seem that there is no single, clear answer, whether you talk to top economists or the Chancellor himself.
Productivity in the UK has remained largely flat for a decade.
So, in the spirit of bringing solutions to the table and not problems, In Cloud Solutions has been asking digital experts how can we solve the low productivity puzzle and what role digital can play.
What is the main problem?
UK companies have been slow to invest in productivity enabling technology like cloud, which can be used to help generate new wealth. Yet, according to most people you talk to today, digital adoption is key to the next phase of low productivity improvements in the UK.
That means using tech to create new services, new business models and new offerings.
What are the barriers to digital adoption?
The biggest barrier has been lack of investment and lack of digital skills. It also seems that despite much talk of maverick disruptors being the ones who will win big in business today, fear of disruption is something that is actually holding business back.
New digital natives will have no such qualms, so established companies need to watch out for the start-ups who lack that digital fear.
Worries around cyber-crime may also play a part according to some experts, yet digital solutions may actually be the answer rather than the problem.
What is the key to solving low productivity with digital skills?
Once business leaders grasp the idea that investment in digital technology is key – things will start to change but it means taking IT from being a support function to being the core of the business and a central part of long term strategy.
Digital and business strategy must become one and the same thing.
The adoption of digital is central to driving productivity improvement in the UK and that is something that has to come from the top – aligning business and digital strategy is going to be essential to those wanting to make gains in 2018.
If you would like to find out more about how you can go digital in 2018 then speak to us about your needs here. In Cloud Solutions specialises in solving the problems of small and medium sized businesses by tailoring our solution SAP Business By Design to your exact requirements. It doesn’t cost the earth and can often be implemented in as little as 8 weeks.