Adopting Latest Technologies is key to growth, say Business Leaders

According to a new research study from Infosys titled “Shaping Europe’s Future” conducted by the European Business Awards has revealed that growth is very much back on the agenda for businesses across Europe.

The study revealed that nearly two-thirds (68 per cent) of the leaders surveyed believe new ideas and innovation will be vital to accelerate business growth. Coming in a close second, 44 per cent of these leaders believe that more than any other growth strategy, entering into and sourcing from new markets would serve as a key driver of growth over the next two years.
 
However, in order for businesses to continue investing in new technologies to drive innovation, the study found that more work is required to track Return on Investment (RoI) on new ideas.
 
B. G. Srinivas, President & Member of the Board, Infosys, said, “The results of this study speak to a renewed confidence amongst European businesses. For a region of the world that has struggled for the past few years, the results of this study are highly encouraging. Technology and innovation are crucial engines for growth. However, for these growth drivers to deliver on their potential, it is important that organizations put in place robust models for accurately measuring the efficacy of innovation. This must include clear visibility on RoI to ensure that as businesses grow they keep a prudent eye on cost control and operational efficiency."

IT enjoys a strategic role when it comes to business growth, with only eight per cent of business leaders citing cost-cutting as the most important role for the technology department.