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17 Oct 2017

Select digitalisation transforms medium business revenue prospects

Jacques van Wyk Chief Executive Officer at Ricoh SA
Business Process Services

Digitalisation launch point secures robust outlook

A syndicated Reuters report on Nasdaq suggests that sub-Sahara Africa economic growth will pick up in 2018 on the back of Nigerian and South African economic growth.

An Industrial Development Corporation (IDC) Economic Trends report of March 31, 2017 says the 34-month downward trend in the South African reserve Bank’s (SARB) leading business cycle indicator ended in April 2016 at its lowest point since November 2009. The Business Confidence Index is poor at below the 50-point mark, manufacturing confidence is below average, consumer spending is weak and confidence at its lowest since the slump of 2008/2009 and that’s reportedly driving limited recovery in 2017. In 2016 retailers saw revenues increase 1,9% in real terms, new vehicle sales fell 11,4% in 2016 and “recovered only marginally in the opening two months of 2017”, according to the report. But vehicle exports increased 3,3% in 2016 but dipped marginally at the beginning of 2017.

Optimism is scant but many organisations realise that technology can help them unlock sustainable revenues. This corresponds with the results of research sponsored by Ricoh in Europe where 98% of medium businesses meeting their mid-year goals believe technology helped them.

Technology plays a key role in helping businesses grow. It improves efficiencies, collaboration (of employees, partners, and customers), and medium business leaders are positive there’s room to grow those benefits. To the tune of 15% of revenues.

Digitalisation is a core concept. Businesses cannot deploy technology for the sake of technology. Budgets don’t allow it. But where and how to embark on the programme to digitalise stumps many. They know they need to be more efficient, more agile, more productive – but how?

They need to focus on the fundamentals of business. Digitalising the analogue, paper processes and “traditional” communications are two prime suspects. They’re at the root of organisational inefficiencies and they simultaneously inform further improvements to business systems and processes in future.

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