Is slow technology impeding small business growth?

New research has revealed that office workers in the UK waste at least 21 days annually as a result of slow or inefficient technology.

That period of time equates to longer than an individual’s paid annual leave in many instances, and costs businesses more than £2,100 per employee every year, according to Sharp UK.

Searching for files on a server was the main drain on time, accounting for 23 minutes of each day, with poor search tools often the reason.

Using and waiting for printer facilities was also found to be a time waster, with staff losing 17 minutes on a daily basis when waiting for the machine to warm up and then print.

The study suggests that staff lose 40 minutes every day, which is the equivalent of 167 hours of dead time annually – more than four weeks.

The major issue among respondents was the use of outdated technology – a factor identified by 80% of the staff questioned.

Close to two thirds of employees believe they would be more productive should they have access to better tech.

Meanwhile, one in five said they would stop hunting for an alternative job, meaning firms could save on general work and on costs associated with recruitment and retention.

Boosting productivity can help businesses to get ahead of the competition, while it should also create a happier workforce if they feel their time is not being wasted. 

Investing in new technology might not be seen as a key factor for a company but it can have a big impact on business.

Time wasted by employees as a result can mean lost profits, lost employees and lost opportunities, which highlights why updating tech is so important, especially in today’s technological age.

A range of alternative finance options exist to support growth for firms who may be unsure if their finances will allow it.

For those operating on tight margins, this should allow them to enhance their technology, boost their productivity and ultimately cut down on lost time in the office.

By Phil Smith

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