With COVID-19, labour shortages, and now the impact of geopolitical conflict to contend with, businesses are losing confidence fast. New and considerable risk factors to economic growth and inflation are causing unprecedented levels of volatility and unpredictability. Rising costs, such as energy and goods, are shrinking budgets, which is resulting in a polarised reaction from businesses: accelerate digital transformation plans or stop and take stock.
It may seem counterintuitive, but businesses must fight the urge to batten down the hatches in the wait for what comes next, says John Cheney, CEO, Workbooks. To grow revenues and reduce costs, investing in ways to improve productivity and remove inefficiencies from business processes is more crucial than ever – especially given the added complexities of today’s hybrid working model. The right technology can help future proof a business against the unknown – joining up processes across the entire business, tailored to achieve its specific goals, with the flexibility to adapt and grow.