Companies cite a lack of consulting help and insufficient in-house resources as the main reasons for unsatisfactory tech investments.
Many companies feel their technology investments miss the mark, according to a study by TomTom Telematics.
A poll of 400 executives with German companies found that, in the last five years, 45 pc of them invested in technologies that they then failed to fully implement. The reason: a lack of help from specialist consultants and weak support by the providers of the service or technology.
TomTom also polled executives in other European countries and found that in France and Italy 67 pc had invested in technologies that didn’t quite pay off. The percentages for the UK and Spain were 56 and 64, respectively.
In Germany, almost half of the executives interviewed said they didn’t have the resources to deploy and effectively use new technologies, while roughly one third said the technology they had invested in proved to be incompatible with existing systems and processes.
“Today, technology investments are a must, so companies can continue to be agile, adapt to market changes and convert operational data into real business intelligence,” said Wolfgang Schmid, sales director for German speaking countries at TomTom Telematics.
He warned, however, that investments alone are not enough. “Many companies don’t generate the expected results because they don’t plan beyond the implementation phase,” Schmid said in a press release.
Data analysis often isn’t used in business decision-making, said 41 pc of the executives polled, because companies don’t have the skills in-house to do so.
And 37 pc said they were overwhelmed by the huge amounts of data generated today.
Schmid said it’s important that technical solutions are easy to understand and manageable. Said the TomTom executive: “New technologies are there to support us, not to overburden us.”
TomTom Telematics is the fleet management and connected-car services division of Dutch navigation and mapping information group TomTom.