Digital adoption solutions outfit WalkMe has released a report revealing how clueless companies waste millions of pounds daily by not using technology properly.
Based on a survey of more than 4,000 bigwigs and workers, the report found that failing to use tech rights costs firms on average £900,000 a week in lost productivity, with staff wasting 44 working days a year.
According to the study, which can be found here, some firms have woken up to the challenge, with 70 per cent of them making digital adoption a key goal and boosting their spending on it by 63 per cent year-on-year.
Firms that have got their act together on digital adoption have seen smashing results. Six per cent of the firms surveyed have followed all the best practices for digital adoption, saving on average £3.9 million a month in lower costs. They’re leading the charge towards HyperProductivity with happier staff and higher returns.
This success shows why 69 per cent of firms say those that don’t get on board with digital adoption will be doomed by 2028. The price of doing nothing is clear — with 46 per cent of medium firms’ digital spending going down the drain due to poor uptake, adding up to £10.3 million squandered. Many firms still don’t know about their IT stuff, guessing the number of apps they use by ten times less.
WalkMe vice president Ofir Bloch said: “SoDA 2024 is our biggest report ever, showing the critical point with global IT spending set to hit £3.9 trillion and a 13 per cent rise in software spending. This makes getting the most out of technology more vital than ever.”
“Digital adoption is now a must-have, especially as artificial intelligence takes over, affecting every part of our business processes. With 93 per cent of firm leaders stressing the need to boost productivity to stay ahead, fully using digital adoption tricks is essential for tackling new challenges.”
The research found:
- Staff spend as many as 353 hours, or 44 working days, a year dealing with tech troubles such as fixing software glitches, waiting for help, or struggling with rubbish instructions.
- Firm leaders think their firm uses 21 apps, but on average, big firms use 211 apps while smaller ones use 69.
- 68 per cent of firms have a team of staff in charge of digital adoption across all departments — compared to 48 per cent in 2021.
- Firms that have followed all digital adoption best practices save on average £3.9m a month compared to those that only follow some. In addition, these firms see:
14 per cent less spending on digital makeover projects that fail to meet returns.
⦁ 18 per cent higher returns from digital makeover projects.
⦁ 30 per cent higher app use.
⦁ 21.5 working days a year of staff’s time saved through better user experiences.
Bloch said: “As more firms realise the need for effective change management and embrace digital adoption fully, they will start to experience HyperProductivity. In this dream state, everyone can easily use any app, and firms will have automated as many tasks as possible and joined up technologies into one smooth, streamlined process.”
“By spreading and copying digital adoption wins across the firm, firms can give staff the tools, technology, and support they need to work much faster and better than before. This will be crucial in coping with productivity problems in a shaky economic climate and ensuring firms get the full returns of their projects.”
