Businesses in emerging markets are better positioned than those in developed ones, when it comes to growth and international expansion, a new report by Epicor says. The global provider of industry-specific software released a report which says more than half (54 per cent) of emerging market business executives named ‘technology leadership’ as one of the main growth factors.
In developed markets, just a third (36 per cent) of executives named the same.
The report is based on a poll of more than 1,800 business leaders from 12 countries worldwide. In terms of international expansion, businesses with agile working practices respond quickly and are therefore better positioned. And those businesses are – you guessed it – in emerging markets, and not developed ones.
Three quarters (75 per cent) of businesses in emerging markets believe flexible working practices (remote and mobile working, for example), are key to keeping best talent within the company, compared to two thirds (62 per cent) in developed markets.
Businesses in developed countries are also less likely to understand how new technology can rid employees of monotonous and repetitive tasks.
“Business executives in more developed markets could be in fact hindering growth unless they make strategic investments into critical technology and working processes that can increase their agility. They need to wake up to the advantages of flexible, agile technology and move beyond aging business systems that are inadequate to meet present-day and future business requirements,” said Andy Archer, regional vice president, UK and Ireland, Epicor Software.