ADOPTION OF NEW TECHNOLOGY
The top-rated business trend in 2020 is adoption of new technology. This is not new. Anyone who is running a business or making decisions about business growth has been clamoring to create efficiency through technology. In fact, over $4 trillion was spent by businesses world-wide on acquiring new technology, most of it for value creation.
One metric used by companies is sales per employee. By any measure, this metric is growing, undoubtedly due to new technology to create value. From 2018 to 2019 sales per employee in the manufacturing sector increased by over $200,000, which is a 12% increase. There are many new technologies that are driving this increase. One important advance is a sales-ready website. These websites are lead generations machines that are responsive and can be viewed on any device. They also enable direct contact with end customers who are becoming more involved in product design and delivery much earlier in the process.
In today’s marketplace, more detailed content and more online interaction between the customer and the manufacturer is the norm, and not the exception. Experts agree that employees in both large and small firms who have access to the latest technology will continue to outpace their relatively less sophisticated colleagues.
Written By: John Young, CCIM | Vice President