Research conducted by Big Five firm KPMG and the CBI found that medium-sized businesses are in danger of falling behind in developing their websites, improving administration and developing IT solutions tailored for their business.
According to Andy Tinlin, a consulting director at KPMG, small companies realise the opportunities to be had by investing in e-business solutions as they have a short-term decision making process.
Furthermore, the costs of the IT industry fit in well with the way small business operates.
Tinlin said: ‘In the past businesses were compelled to make a huge upfront investment in technology. But nowadays, the costs can be incurred in a more gradual way.’
Larger companies, in contrast, may take longer to make decisions about setting up something like a new inventory systems, and will spend more time on performing a cost-benefit analysis before implementing new IT solutions.
But, Tinlin warned small businesses could become ‘trapped’ if their systems advance beyond those of customers and suppliers.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union