These are some of the findings of a global research study commissioned by business software provider Exact that compares how SMEs in different countries stack up against each other when it comes to technology adoption.
The ‘Exact 2015 SME Cloud Barometer’ – an independent research study of almost 3,000 SME leaders across the UK, the USA, France, Germany, the Netherlands and Belgium – has revealed that14% of UK manufacturers failed to respond to requests for proposals on time, compared to a global average of 11%. It equates to as much as £24.7bn in extra revenue that UK manufacturers are potentially missing out on, according to Exact.
The research suggests staffing levels potentially lie at the root of that problem, with results showing the biggest challenge for UK manufacturers is finding skilled technical staff (43% compared to a global average of 32%). That headache is followed by one of having to ensure their material and processing costs are accurate (37%), and then of ensuring invoices are paid on time and product innovation initiatives are being optimised (both at 34%).
The issue of ensuring orders do get delivered on time appears to be exacerbated by a change in demand put on manufacturers, in particular a switch away from large bulk orders towards a growing trend for smaller ones. Over half (51%) of UK SME manufacturers said customers were increasingly requesting orders in “smaller series”, although not as much as France where 61% said that is now the case.
Erik van der Meijden (pictured), CEO of Exact, said: “The UK manufacturing sector is facing some tough challenges, but with those come opportunities. To take advantage SMEs need to ensure they are competitive, efficient and provide the very best in customer service.
“This research highlights that one of the most effective ways of doing that is through technology adoption – whether that’s to improve production processes, keep tighter controls over stock or reduce time spent on non-productive administrative tasks - time that could be spent on maintaining and winning new business.”
