- The average British SME now invests 36% of its annual income in the new technology
- Finances and payments are current use cases
- Only 1% of companies remain non -technical users
Small and medium -sized British companies invest more than a third (36%) of their annual income in new tools and technologies, said new Worldpay data, most of them (90%) also suitable for technological investments which have already considerably strengthened efficiency.
Among the most popular areas for new technological investments in all types of British SMEs are financial management (54%), marketing and sales (49%) and payments treatment (47%), with employee management, stock control and CRM by also seeing a healthy boost.
On the other hand, only 1% of SMEs now do not use any technology, against one in five (20%) ten years ago, marking a huge gap compared to the old ones.
British SMEs are mostly techniques first
“This digital transformation is not only a trend – it is a vital evolution that improves productivity, efficiency and customer satisfaction,” said Worldpay GM for SMB International Chris Wood.
A certain number of factors could have contributed to the increase in expenditure on digital platforms, but the change in post-country behavior could lead them. Customers are now expecting contactless and omnichannel services that are fast and instant.
Then, there are regulatory obstacles, for example the HMRC digital tax mandate which requires accounting compensation using certain report software.
“Worldpay is on a mission to provide SMEs with good technology, which allows independent companies to compete on a playground and prosper,” added Wood.
