The UK SMEs are a leading light when it comes to adopting new, cloud based technologies according to a new study.
Small and medium-sized businesses are world leaders at adopting new technologies according to a global research study commissioned by software provider Exact.
The study compares how SMEs in different countries stack up in terms of technology adoption.
The study – Exact 2015 SME Cloud Barometer – was an independent study of around 3,000 SME leaders across Belgium; France; Germany; the Netherlands; UK, and US.
It revealed that those SMEs who are heavy users of cloud software, using three or more cloud-based products, achieved higher revenue growth and more than double the profit of companies using less cloud-based products.
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The study showed that 47% of UK SMEs are now using at least one cloud-based program and that the UK has the second highest number of heavy cloud users in the study group with 27%, only just behind the US at 29%.
The study also showed that users of multiple software products showed 26% growth in revenue in 2015, compared to 14% for those using one or two software solutions, and just 10% for those not using any cloud solutions at all.
CEO of Exact, Erik van der Meijden commented: “Few business leaders would argue with the fact that having the right software tools in place can be vital to success.
“In fact, 63% of the SMEs who took part said they felt that technology is going to have a strong impact on the competitive landscape in their market over the next three years.”
General manager of cloud aolutions at Exact UK, Lucy Fox added: “There is a real opportunity here for UK SMEs to build on the success and status they hold on the global stage.
“To do so, businesses need to ensure they stay competitive, efficient and provide the very best in customer service. Cloud adoption levels appear to be growing, and highlighting the tangible benefits it can offer through research like this will hopefully encourage more UK SMEs to follow suit.”
The research found UK SMEs had the highest average net profit margins last year (2014) among all the comparison countries – an average of 20%, just ahead of those in the US (19%), but twice as much as those in France.
That positivity looks set to continue with revenue growth figures for this year predicted to be 16% – nearly twice as much as expected by those in the Netherlands.