Midsize firms are increasing their investment in IT, striking a balance between solutions that drive short term cost savings and those that enable revenue growth and stronger customer relationships. Globally, managing costs, improving efficiencies, driving up productivity, and focusing on superior customer service are all cited as critical business priorities.
Cost reduction and operational efficiencies – The demands of today’s “new normal” financial environment require that midsize firms remain focused on efficiency and cost control. Given that, it is no surprise that in our study 76% of midsize businesses cite improving efficiency as a key priority, while 70% cite increasing employee productivity. From a geographic perspective, these priorities are particularly high in China, Brazil, and Mexico where roughly 9 in ten believe improving efficiencies and reducing costs are the top priorities. Many midsize businesses are optimizing key business processes to deliver greater efficiency and competitiveness. This is a particularly high priority in Italy, BeNeLux, and New Zealand.
Customer focus – Enhancing customer service (73%) and prospecting for new customers (67%) are top priorities among midsize businesses around the world. In Canada, the United Kingdom, Germany, Mexico, Singapore, and Poland, improving service and better managing customer relationships are the top priorities. In China, 92% indicate that finding new ways to reach customers (e.g., via social media) and customer acquisition are top priorities.
Increased insights and intelligence – Improving insights for better decision making (62%) is a top priority for midsize businesses. This capability allows them to use information more effectively in order to make informed and competitive business decisions regarding customers, competitors, and their own companies.
As midsize businesses look to gain better insights, improve collaboration, reach new customers, and improve workforce mobility, their investments in solutions that can deliver those capabilities will continue at a healthy pace. Advanced analytics software, for example, can help extract value from data, see patterns, and anticipate changes. At the same time, however, they must keep their core IT platforms current and secure, so they continue to invest in powerful systems, storage, software, and other infrastructure needs. Midsize firms that can manage this dual focus and who understand the deeper potential of technology as an enabler of change will gain a competitive advantage.
According to a survey by IBM.
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