Prism Digital Transformation Survey Roundup

It’s the time of year again when we’ve sent out our digital transformation survey to over 3,000 business leaders from SMEs across the UK, inviting them to share a snapshot of their thoughts.

From their thoughts around IT challenges, to the potential for technology to deepen their relationship with customers, what did our survey reveal?

Investment in IT

Given the events of the last year, we’ve seen a greater reliance on technology than ever before.

With this in mind, it is unsurprising that 49% of respondents said they expected an increase in their organisation’s investment in IT and digital solutions over the next year.

Though 41% expected their investment in IT to stay the same, this may be a result of increasing their spending towards IT in the previous year to keep up with hybrid working and other IT-lead solutions.

With only 10% of respondents expecting a decrease in investment, IT is higher on the agenda for SMEs in the next year.

Digital transformation as a strategic priority

Hand-in-hand with the increase in investment in IT and digital solutions, businesses are also making digital transformation a higher strategic priority.

72% of respondents say they are making digital transformation a strategic priority in their business.

This may be impacted by businesses being concerned that their digital transformation progress will be stalled once staff are back in the office, which 50% of respondents believe will occur.

For many businesses, the next year offers an opportunity to utilise digital solutions to thrive and increase productivity, which means making digital transformation a strategic priority is essential.

The benefits of digitalisation

Another trending area for businesses is the awareness of the benefits that digitalisation can provide.

71% of business leaders expect their company to achieve cumulative benefits (such as lower costs and increased revenues) from digitalisation in the next five years.

This comes at a time when businesses are more knowledgeable about what digital solutions can offer their business and how to overcome the challenges that may occur.

When it comes to creating a frictionless IT environment, 74% of business leaders say their business can cope with the IT challenges that may occur. 

Undoubtedly, as businesses increase their use of IT solutions their knowledge of how to overcome the challenges that can arise increases as well.

One challenge that businesses are continually struggling with, however, is data security, which 73% of respondents cited as a concern.

New ways of working

Hybrid working was a product of necessity for businesses and is still a point of debate for many – 57% of business leaders would favour a more hybrid working environment.

Higher confidence in remote working capabilities may see this number increase over time, though, as over 64% of businesses have found it easy to access files and systems whilst working remotely.

An evolution in the ways of working is also emerging in customer relationships, with 80% of respondents believing that technology will help to deepen their relationship with customers.

Digital transformation is already evolving to suit the changing world of work – it’s now a matter of businesses having the tools and help at their disposal to keep up!

If you’d like help creating a frictionless IT environment that can benefit your team and your customers, get in touch by calling 0345 121 7770, or filling out our contact form.