Businesses in Wales are ready to embrace digital technology to accelerate their growth according to key findings from Cardiff University's Digital Maturity Survey Report 2017.
Positive Use of Cloud Technology
Using data from Ofcom's 'Connecting Nations Report 2016', the survey confirms that SMEs in Wales are taking advantage of cloud technologies. Over three quarters (79%) of them use cloud-enabled software packages to save time and simplify their workloads, and 70% of them take advantage of cloud-based storage services to improve data backup and collaboration among staff. The study also noted that:
62% of SMEs use Relationship Management (or Customer) software to get the most out of their data to improve their sales by up to 29% (Salesforce)
E-trading Opportunity
There are still a wealth of online opportunities for Welsh businesses to take advantage of. The survey found that less than half (46%) of Welsh businesses used online payments last year. That's a huge market to miss out on as the United Kingdom was designated as the third largest e-trading market in the world in 2015. There is no sign that this is going to change either, with e-trading sales expected to grow by 7.3% in 2017 (Statista).
As a nation of entrepreneurs, Wales has a great opportunity to use this digital landscape to boost economic growth as 57% of SMEs with high e-commerce usage have seen positive sales growth per employee. In contrast, nearly half (48%) of depressed e-commerce users saw negative sales growth.
Investing in Technology to Boost Sales
Alongside e-commerce software, wider digital technologies are giving Welsh businesses tools and techniques to develop what they sell as the survey found that 80% of SMEs that had invested a lot of money in IT also saw a positive increase in sales, compared to 66% from the medium IT investment category and 52% from the low category. The study suggests that investing in robust IT infrastructure early in the SMEs journey is important to improve commercial performance.
The 2017 Digital Maturity Survey Report shows that Wales has an open mind when it comes to driving progress in digital. Businesses are taking important steps to embrace technology and are seeing real growth as a result. However, we are only scratching the surface. Digital elements could still give a large proportion of Welsh businesses the opportunity to drive sales, increase profits and encourage Wales' digital footprint. It's time to step forward.
Wales' future includes connectivity and digital growth. So what can you do to embrace technology in your business in Wales?
Read our top 5 tips to help your business start the journey to achieving growth with support from accessible digital technologies.
Assess your business and goals
Could marketing material automation increase your sales productivity by 14.5% and reduce your marketing overhead by 12.2% (Nucleus)? Could an instant messaging app save 40% of the time your business staff waste writing internal emails every week (Atos Origin)?
Start by assessing your needs, pressures, goals and ambitions to connect the dots between the current status of your business and how technology can help you achieve your growth goals.
Accessing online resources
The Welsh Government has invested significantly in resources to provide Welsh Government with the support and guidance they need to boost innovation and business performance. Whether you're looking for inspiration, information or advice, Accelerate Wales for Business has a wealth of blogs, top tips and online guides to help you understand the benefits of digital technology, how to implement change and how to get the most out of technology for the benefit of your business.
Free digital technology events for SMEs
You'll probably have questions about how your business can embrace digital change to see a real return on investment. A range of free business events are being held locally across Wales offering advice, practical tips and specific opportunities to ask questions about the different types of digital technologies. Check out what Accelerate Wales for Business has to offer.
Rhoi cynnig ar dechnoleg am ddim
Mae’n debyg y bydd gennych syniad da beth yr hoffech ei roi ar waith yn eich busnes ar ôl i chi wneud rhywfaint o ymchwil, darllen ychydig o flogiau a mynd i ddosbarth meistr. Fodd bynnag, does dim rhaid i chi ymrwymo i feddalwedd benodol ar unwaith. Dyma’r amser i fanteisio ar dreialon meddalwedd am ddim neu brofi fersiwn ‘sylfaenol’ technoleg cyn i chi ymrwymo. Mae hyn yn eich galluogi chi i ddadansoddi ac uwchraddio eich system neu becyn wrth i’ch anghenion newid ac i’r busnes dyfu.
Defnyddio ein Cyfeiriadur Meddalwedd am ddim
Mae’n hawdd teimlo ar goll braidd gyda’r dewisiadau a’r fersiynau di-ri o dechnoleg ddigidol sydd ar gael i’ch busnes. Mae Cyfeirlyfr Meddalwedd Cyflymu Cymru i Fusnesau wedi'i lunio i’ch helpu chi i ddeall y mathau o gynnyrch meddalwedd sydd ar gael i’ch helpu i redeg eich busnes. P’un ai a ydych chi angen cymorth gyda Chyllid a Gwerthu neu Gyfathrebu a Diogelwch, mae’r Cyfeirlyfr Meddalwedd yn ymdrin ag 11 maes allweddol ym myd busnes. Mynnwch eich cyfeirlyfr am ddim yma.