European businesses are missing revenue due to inefficient technology, Ricoh study shows

By Václav Němec

Ricoh Europe, a global technology specialist leader, has revealed the results of a study which analyses the scale of missed revenue from poor technology access for European mid-sized businesses.

The results show that 90% of business decision-makers from companies in the UK, Germany, Italy, France, and Spain identify lack of technology access as a cause of missed revenue. The average amount of potentially missed revenue for each organisation is €13mn.

All-in-all, European mid-sized businesses thought that a mean of 15% of revenue was missed due to insufficient access to technology. The percentage of missed revenue across nations varied as follows:

  • Italy – 18%
  • UK – 15%
  • Germany – 18%
  • France – 11%
  • Spain – 13%

 

The main reason for the lack of access to technology was, according to respondents, inefficient deployment and training. 42% said this was a key issues.

Other issues include technology vendors not offering the right products and services (33%), while 32% thought their IT teams didn’t identify new and interesting products and services.

 

The biggest issue came down to the technology itself and the support offered, with 12% of respondents stating their business didn’t have access to better technology thanks to cost constraints.  

Javier Diez-Aguirre, Vice President, Corporate Marketing, Ricoh Europe said: “Despite the vast range of technology that is available to organisations, it is clear that mid-sized businesses across Europe do not feel like they are getting good value from their choices. Improved efficiencies and better collaboration and communication between staff are crucial constituents of making a successful business. Our research makes clear that the tech industry has a responsibility to help mid-sized businesses realise these benefits in full.”

It’s not all doom and gloom for mid-sized businesses in Europe: 79% achieved or exceeded sales targets at mid-year. Nearly all respondents also felt technology had contributed to their success, with improvements in collaboration between staff cited as the biggest reason for success (59%) followed by helping to save money (53%).

For businesses that didn’t achieve their targets, the main reason was the macro-economic environment (33%).

For more information, visit Ricoh’s website: www.ricoh-europe.com

Share

Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East

Technology