CBI urges firms to embrace established tech to thrive

DataIQ News

UK businesses are falling behind their European rivals by failing to embrace established technologies - such as CRM and cloud computing - which is both undermining productivity and stunting growth.

The CBI has told companies that there is “low-hanging fruit” worth as much as £100bn of gross value added if only they would invest in well-established systems.

The so-called "bosses union" has published a study, entitled “From Ostrich to Magpie”, which found the UK had a small contingent of highly productive firms at the cutting edge of new technologies, and the best ­management techniques.

While Britain has more of those leading firms than France or Germany, they only employ 5% of the workforce. Aside from those top performers, ­Britain also has far more unproductive companies than its continental rivals. Almost 70% of UK workers are ­employed by firms where productivity is below the median, compared to only 65% in France and 60% in Germany.

The organisation is urging the Government to ­redirect some of the money it will get back from the European Regional ­Development Fund post-Brexit to support businesses and encourage them to implement better technologies.

It has drawn up  a provisional list of five key steps that companies can take to become more productive, including working with CRM systems; ­enhancing cyber ­security plans; adopting cloud ­computing; using e-purchasing technology; and improving management and innovation skills.

See "UK plc needs magpie-like tech strategy for £100bn uplift"