DRIVING BUSINESS DIGITISATION
Surprisingly, despite the productivity increase that digital technologies provide, a large percentage of New Zealand SMEs continue to drag the chain on their implementation. With AI making its presence felt in 2024, it’s time for business owners to unders
It seems that the entire world is infatuated with artificial intelligence. Individuals and businesses everywhere are busy exploring how to harness and apply its extraordinary capabilities.
However, while AI hogs the headlines and captures our collective attention, many New Zealand small businesses continue to drag their heels on the real technology gamechanger that’s been steadily infiltrating the market for some time.
We are, of course, talking about digitisation. This is the application of digital tools and technologies that speed up a business’s processes or systems, thereby improving customers’ experiences, creating greater efficiencies, and ultimately boosting profitability.
So why is it that many New Zealand businesses have been so slow to appreciate the benefits and the savings that digital technologies and applications can deliver?
Perhaps, for many, it’s simply the ongoing battle for survival.
In 2024 we live in interesting, and yet incredibly tough, times for businesses. The latest data from Auckland firm BWA Insolvency has revealed that almost 50 businesses in New Zealand are declared insolvent every week.
There is no easy answer. Since the arrival of the Covid pandemic so many factors outside our control have collectively made business ownership and profitability a challenge.
Could digitalisation make a difference? There are many experts who believe it is indeed a game-changer.
Greg Clark, director – SME and Consumer at Spark, reminds us that in today’s highinflation environment, the number one