TechnologyAccounting SoftwareKPMG highlights web opportunity

KPMG highlights web opportunity

Changes in traditional methods of business brought about by the web mean that technology can no longer be ignored, according to Roger Lee of KPMG Consulting. He argues that, to gain the best results, business and IT strategies must be developed together.

Speaking at a seminar on web strategies Lee said that many companies are failing to embrace the opportunities opened by web-based technology.

“People tell us that it is a cliche that the web is changing the business environment, but surprisingly few companies have reconsidered their business strategy in the light of this new environment … many senior managers believe that simply developing a website, even one that enables some aspect of e-commerce is a sufficient response. These companies may get a nasty shock when they find out that their competitors have seen new ways of doing business, indeed whole new businesses, enabled by web-based technology,” he said.

Lee believes that certain industries are under greater technological threat than others. He cites industries whose products and services have a high information content or can be digitised; and companies whose customer groups are significant users of the Internet and those whose sales channels involve several parties. The music and automotive industries have internal business operations that could be replaced by the web. It is only recently that these two industries have realised the challenges that they face, said Lee.

In order to fight the coming challenges, Lee recommends that companies should rethink and revise their corporate strategy. By assessing the opportunities and threats posed by new technology, he believes, business leaders will be able to survive and flourish with the new technology.

Lee was speaking at a seminar entitled “The Web: A Resource For Strategic Management”.

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