Epicor: Technology investment boost business development in fast-growth countries
Research findings show businesses in emerging economies are surpassing overseas counterparts thanks to technology agenda.
Epicor Software Corporation, a global provider of industry-specific enterprise software, has released the results of a global research report that studied the impact of IT investments on enterprises in fast-growth countries.
The report that organisations active in fast-growth countries that invested in technology, saw the most growth. These entities were able to take advantage of the technology to break into new markets and locations more swiftly, while also avoiding investing in high labour costs.
In particular, businesses based in Mexico, China and India saw the most growth according to the research. Specific findings showed that 63% of Mexican firms cited IT investment as important, while respondents from Chinese and India reported 74% and 73%, respectively. The global figure stood at 54%.
Kathy Crusco, chief operating and financial officer at Epicor commented, “Business leaders around the world can learn from the experience of ‘grow getter’ businesses in emerging economies such as India and Mexico.
“These ‘grow getter’ companies have invested in technology to empower their workforces, drive efficiencies, increase agility, and increase their profit margins, as a result. They use technology to adapt quickly to change and demand, allowing them to drive expansion into new markets, and establish processes to adapt their product ranges to match consumer demand.”
Conducted by Morar Consulting on behalf of Epicor, the report surveyed 2,450 business decision makers and employees from entities in 12 countries across the globe.
Additional findings showed that high growth businesses tend to be ones that are significantly expanding operations overseas. Sixty five percent that reported a very high growth, also reported significant growth overseas. The global figured averaged at 14% overall.
“While macro-economic factors can often not be avoided, getting bogged down in legacy systems can. This study builds a resounding business case for investment in IT systems that support and enable business growth and help businesses navigate economic and political challenges as they arise,” added Crusco.
“Given our history in enterprise resource planning (ERP) software this is something that Epicor has been passionate about for a long time. With intelligent, next-generation enterprise solutions in place, it becomes possible for businesses to be more confident in delivering their growth strategies.”