The use of mobile technology has likely helped to improve your business in many ways, but are you saving room in your budget for it? Probably not, according to a new study from accounting solutions provider Sage North America.
Businesses in the construction, food and beverage; and manufacturing and distribution industries overwhelmingly agreed that mobile technology has positively impacted their businesses, the study reported. However, the vast majority of those businesses are simply purchasing mobile solutions when they need them, without setting an annual budget for them.
In the manufacturing and distribution sector, 74% of those surveyed said they do not set a budget for mobile technology, even though 51% of business owners in the industry reported using mobile devices and applications to access work-related materials while they're away from the office. In addition, 72% of manufacturing and distribution businesses felt that mobile technology positively impacts customer service.
Seventy-three percent of food and beverage industry businesses also reported that mobile technology positively impacts customer service, but 76% of companies reported not setting a budget for it.
In the construction industry, despite 77% of companies reporting that smartphones have had a positive impact on their organizational productivity, a mere 14% set a budget for mobile technology.
So why aren't more businesses budgeting for mobile technology?
Joe Langner, executive vice president and general manager of mid-market solutions for Sage North America, noted that more than 40% of the businesses they surveyed reported that they have a BYOD (bring your own device) policy in place. Since their expenses in this area are relatively small because they're not providing devices to their employees, many business owners don't feel the need to budget for mobile tech, Langner said.
"[It's] clear that businesses are seeing the productivity gains, proving that it's worthwhile to suggest that companies plan for mobile — whether it's a specific line-item expense or it's an official BYOD policy," Langner said.
The study surveyed businesses in both the United States and Canada.
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