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Half of business leaders say out of date tech is holding them back

(Image credit: Image Credit: Bbernard / Shutterstock)

Roughly half of businesses in the UK believe they aren't using technology to its maximum potential, winning business, running efficient systems and attracting the best talent. 

A new report from ThoughtWorks, based on a poll of 1,062 business owners in the country, suggests that many businesses are growing more worried about lagging behind when it comes to technological development.

A total of 47 per cent of businesses admitted their tech use was not as sophisticated. Out of that number, four in ten (41 per cent) said they’re actively working on improving their technological capabilities, but are still behind. Six per cent said the technology lag is holding them back from growing.

Their perceived technology level seems to corelate to how they see Brexit. More advanced businesses, with more technology agility, generally see Brexit as an opportunity to grow. Those that are lagging behind and those that aren’t as efficient when it comes to new tech – they say Brexit will put their current plans on hold and, in some instances, force them to downsize and abandon certain key markets.

The research argues Brexit could further widen the tech gap in the country.

“Surrounded by change and uncertainty, organisations are realising they may not be taking full advantage of technology. Some have yet to start, others have focussed narrowly on digital customer experience, because it’s very visible and actually it’s a great first step. However, modern digital businesses already at the top of their game know that the kind of capabilities that have driven their success don’t stop there,” commented Luke Vinogradov, Digital Transformation Principal, ThoughtWorks.

“Across the organisation, making tech work for you means making choices. New ways of working can align your whole business around customer value; data can help you to build engagement and advantage; platform thinking and a test-and-learn approach will maximise the impact of your investments; and a delivery mindset will help you cut through the complexity and get things done. All of these digital capabilities can help you keep up – the right balance will ensure you get ahead.”