Of the remaining 12% of respondents, 10% believe it is âfairly importantâ to have the right software systems in place whilst the remaining 2% stated they did not know whether software systems were important to helping a business prosper or not. One of the âdonât knowâ respondents, a financial controller from a food manufacturing company, said, âThe key to our business is customer contact, not how we operate internallyâ.
The survey also highlights a number of measures that organisations have introduced to ensure they succeed in the current climate. These range from an increased focus on cash collection, cutting overheads and capital expenditure to âbest valueâ procurement.
Lynne Munns, General Manager of Version One, says, âThis research demonstrates that organisations recognise how vital it is to have the right software systems in place to enable them to not only survive during these turbulent times but also to flourish. Software systems such as document management enable organisations to streamline their processes, cut costs and have greater financial transparency which are obviously key in the current climate. Organisations that fail to carefully consider their software needs are often running an inefficient and wasteful operation which can prove particularly damaging during challenging economic times.â
37% of those surveyed stated that they are interested in implementing document management technology, in some part, due to the current market conditions, highlighting that the economic climate is now a key driver behind organisationsâ software procurement needs.
Munns comments, âItâs understandable that businesses are considering document management in part due to the economic downturn as these systems deliver significant cost and time savings whilst improving cash flow, enabling a lean and efficiently-run operation.â
In total, 62% of the surveyâs 160 respondents feel that if UK businesses are to flourish at this time, they need to streamline their internal processes AND invest in the right software systems. 23% stated that improving internal processes alone would be sufficient while 7% thought that just investing in software systems is the answer. The remaining 8% put forward some alternative suggestions to how organisations can prosper in the current climate. These include âreducing staff overheadsâ, âinvesting in trainingâ and âimproving customer satisfaction levelsâ.