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Larger businesses struggling to digitally transform

report british business bank

Larger businesses are struggling to digitally transform at pace in an age of disruption according to a new report by CBI and Oracle.

The report, entitled ‘Bigger, Faster, Stronger’ suggests that more adoption of technology and better management practices could add £100bn to the UK economy and cut income inequality by 5%.

The report reveals that just 54% of UK companies believe disruptive technologies play an important role in their organisation, and are struggling to digitally transform due to factors such as skills scarcity and complex legacy systems.

Felicity Burch, CBI Director of Digital and Innovation, said: No business can rest on its laurels when it comes to technology. Big firms must be doing all they can to stay ahead of international competitors and adopt new technologies that will boost productivity and efficiency....