Just 27 per cent of government executives currently feel significant or extreme pressure to adapt to rapid change. However more change is on its way. The European Commission expects 50 per cent of citizens and 80 per cent of businesses to interact with the government digitally by 2015 and citizens continue to demand easier ways to communicate with government bodies.
- Communication crackdown
- Digital Marketplace: Hope or Hype?
- The 4G Workplace
- The future of work
- Digital maturity: The race to the summit
- Digital maturity: The next big step
- The Tech Evolved Workplace
- The Challenge of Speed
- Customer Service
- Business World 2036
- Activating the iWorker
- Bigger Data
- The Change Making CIO
- Humans and Machines
- A New Perspective: Document Governance
- The Dramatic Impacts of Document-Driven Business Processes
- The next decade of technology in business
- The future of technology disruption in business
- Businesses to enter a new era of decentralisation
- The CIO and CMO to form dynamic partnership and enable customer-led innovation
- Chief Executives should not be held to ransom by technology
- Businesses unable to keep up with impacts of technological change may disappear by 2020
- Ricoh Process Efficiency Index
- Businesses play a risky game with document security
- Healthcare, education and financial service organisations at risk of document compliance breaches
- Existing business processes across Europe are unnecessarily labour intensive
- Managing the costs of document processes in Europe
- Document processes have far reaching impacts
- The European Union's Digital Agenda
The Challenge of Speed
Driven by ever-increasing globalisation and technological innovation, as well as rocketing consumer expectations, Europe’s businesses must evolve to become better positioned for faster change.
In a study called ‘The Challenge of Speed’ conducted by the Economist Intelligence Unit, and sponsored by Ricoh, 73 per cent of senior executives across Europe reveal that their companies need to be faster in order to adapt to changing business conditions.
The report also highlights how European companies across a range of industries are responding to the challenges of enhancing business agility and what steps they should take to be faster.
In addition to a series of interviews, the survey sample included 461 senior, Europe-based executives. Almost half (49 per cent) are C-level or above and a further 23 per cent are SVPs, VPs, or directors.
Why the Need for a Common Approach and Less Bureaucracy is Essential to Enhancing the Student Experience
European education leaders believe they need to change faster now than they have done over the last three years, with almost all (98 per cent) feeling under pressure to adapt rapidly. However, they are energised about the role of technology in the future of learning and consider augmented reality as one of the leading technologies able to improve their organisation’s performance and enhance the student experience.
Their key areas of concern to quickly changing for the future are focused on back office activity. The top two bottlenecks to achieving greater agility are difficulty in getting employees, business units, or functions to adopt a common approach (44 per cent) and bureaucratic decision making processes (35 per cent).
European healthcare executives predict that technology will be the biggest driver of business change over the next three years. However, they are wary that in driving rapid change the biggest areas at risk are 1) technology itself and crucially 2) R&D.
They are also fragmented when it comes to agreeing which areas are most crucial to change. But when specifically considering where they expect to see the most change in the next three years, the most cited response is improving their core business processes.
When considering how fast they can adapt to change, European business leaders are three times as likely to compare their company to a speed boat (48 per cent) than a super tanker (17 per cent), while believing the opposite of their competitors. The reality is, as they seek to change faster, they are being clouded by the triple challenge of a rapidly evolving workforce, technology-led disruption and the underlying core business processes that ensure change is sustainable.
As financial services organisations juggle conflicting demands from consumers, regulators, and shareholders, the must also navigate the challenge of adapting to change faster. Retail, corporate and investment banks, as well as insurance businesses, are using technology extensively to operate faster - more than in any other industry. However, as unconnected legacy systems continue to slow them down, there is an urgent need to further review technology assets and simplify core information and document processes.