60% say automation is driving financial success

More than half (61 per cent) of financial services firms believe that automation is driving greater success in the sector, while close to three quarters (71 per cent) see the pace of technological change as a key enabler.

IT and digital services firm Ricoh Europe surveyed 2,550 business leaders across 24 countries in Europe, Middle East and Africa on the role technology plays in driving efficiencies and employee empowerment.

The results showed that business leaders recognise that agile, automated processes will be critical for responding to change in the future, with workplace technologies valued for increasing productivity (70 per cent) and problem solving (65 per cent), as well as cutting down on mundane tasks (67 per cent), motivating staff (67 per cent) and enabling them to reach their full potential (69 per cent).

Over two-thirds (69 per cent) of business leaders want to use new technology to assert more control over their own organisation and adapt rapidly to change. However, 61 per cent said they wanted it to be simpler to tailor technology to their individual needs.

With the average annual cost of upgrading technology revealed to be around €26,000 for a European business, there is also clear desire for more cost-effective ways to always stay current.

David Mills, chief executive of Ricoh Europe, said: “Digital disruption is the defining business phenomenon of the past decade. Working extensively with leading European businesses to develop new customer-centric solutions, we know it’s critical that any investment in technology not only helps an organisation’s own people perform more effectively but benefits their customers in the same way.”

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