A new research by Epicor has shown that businesses in emerging economies are outpacing their overseas counterparts in business growth aspects due, in part, to an aggressive technology agenda.
Businesses in Mexico, China and India are increasingly turning to technology to power successful growth, reveals new global research from Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth. Around three quarters of Chinese and Indian firms (74% and 73% respectively) and 63% of Mexican firms cited IT investment as important, compared to a global figure of 54%.
Kathy Crusco, chief operating and financial officer at Epicor commented, “Business leaders around the world can learn from the experience of ‘grow getter’ businesses in emerging economies such as India and Mexico. These ‘grow getter’ companies have invested in technology to empower their workforces, drive efficiencies, increase agility, and increase their profit margins, as a result. They use technology to adapt quickly to change and demand, allowing them to drive expansion into new markets, and establish processes to adapt their product ranges to match consumer demand.”
Overall, the research figures indicate that many of the world’s businesses, particularly those in established economies, do not ‘get growth’ in the same way as their emerging market peers and risk falling behind ‘grow getter’ businesses in emerging markets. These businesses demonstrate a strong motivation to invest in technology to empower their organization.
Despite sales and turnover generally increasing across the globe (65% of businesses grew their sales/turnover in the last 12 months), only around half (48%) of the businesses around the globe are meeting this increase in productivity with a larger workforce.
Crusco continued, “While macro-economic factors can often not be avoided, getting bogged down in legacy systems can. This study builds a resounding business case for investment in IT systems that support and enable business growth and help businesses navigate economic and political challenges as they arise.”
