88% of IT and Finance Professionals Believe the Right Software Systems is the Key to Prospering in the Current Climate
The findings of a survey by document management software company, Version One, has revealed that 88% of senior finance and IT professionals believe it is important to have the right software systems in place if businesses are to prosper in the current economic climate. Version One is V1 Document Management's UK based sister company selling the same award winning document management technology.
60% of these stated that having the right software systems is "vital". Version One carried out the research with 160 senior finance and IT professionals (finance directors, financial controllers and IT managers) across a range of organizations.
Of the remaining 12% of respondents, 10% believe it is "fairly important" to have the right software systems in place whilst the remaining 2% stated they did not know whether software systems were important to helping a business prosper or not. One of the "don't know" respondents, a financial controller from a food manufacturing company, said, "The key to our business is customer contact, not how we operate internally".
The survey also highlights a number of measures that organizations have introduced to ensure they succeed in the current climate. These range from an increased focus on cash collection, cutting overheads and capital expenditure to ‘best value' procurement.
Lynne Munns, General Manager of Version One, says, "This research demonstrates that organizations recognise how vital it is to have the right software systems in place to enable them to not only survive during these turbulent times but also to flourish. Software systems such as document management enable organizations to streamline their processes, cut costs and have greater financial transparency which are obviously key in the current climate. Organizations that fail to carefully consider their software needs are often running an inefficient and wasteful operation which can prove particularly damaging during challenging economic times."
...This research demonstrates that organizations recognise how vital it is to have the right software systems in place to enable them to not only survive during these turbulent times but also to flourish...
- Lynne Munns - Version One
37% of those surveyed stated that they are interested in implementing document management technology, in some part, due to the current market conditions, highlighting that the economic climate is now a key driver behind organizations' software procurement needs.
Munns comments, "It's understandable that businesses are considering document management in part due to the economic downturn as these systems deliver significant cost and time savings whilst improving cash flow, enabling a lean and efficiently-run operation."
