In a recent survey conducted by TeamViewer, a prominent global provider of remote connectivity and workplace digitalization solutions, concerns about the trustworthiness of internal data have emerged as a prevalent issue across organizations worldwide. The report, titled “The Real Value of Technology Connectivity,” reveals that a staggering 99% of business leaders have identified factors that undermine trust in internal data, with common reasons being multiple versions of the truth, conflicting data management practices, and poor hardware reliability.
Interestingly, the level of mistrust regarding internal data varies based on the size of the company. Smaller organizations are more likely to attribute this lack of trust to a lack of data literacy among employees, with 40% of respondents from companies generating US $10 million to US $49.99 million in yearly revenue reporting such concerns compared to 21% of companies generating US $10 billion and above.
Furthermore, the study found that only 5% of business leaders believe their organizations have seamless technology connectivity. This presents a significant opportunity for organizations to bridge the connectivity gap, not only to instill trust in internal data but also to enhance various aspects of the business, from customer interactions to innovation and HR.
When asked about the benefits of seamless technology connectivity, respondents highlighted several key advantages. 80% stated that it enables better customer interactions and increases customer satisfaction, while 81% mentioned that it fosters better innovation. Additionally, 82% believe it allows for more time for considered decision-making, and 86% consider it essential for talent retention within the company.
Moreover, the research unveiled a correlation between excellent technology connectivity and industry leadership. Business leaders at organizations with excellent technology connectivity reported superior financial performance compared to those with good connectivity. Furthermore, companies with excellent connectivity demonstrated operational performance on par with industry leaders and were better equipped to withstand cyber threats, with 38% of them being leaders in cybersecurity performance.
Mei Dent, Chief Product and Technology Officer at TeamViewer, emphasized the importance of seamless connectivity in driving business growth and revenue. She highlighted the need for organizations to shift towards an integrated connectivity approach to fully leverage emerging technologies like augmented reality and artificial intelligence.
The study also identified key factors holding organizations back from achieving seamless connectivity. Gaps in connectivity were attributed to differences between departments, challenges in demonstrating the ROI of tech connectivity, and concerns about cybersecurity. Dent underscored the necessity for companies to invest in seamless connectivity to attract and retain top talent and remain competitive in the market.
The research, conducted by FT Longitude, involved 500 business leaders across six countries and various industries. TeamViewer, a leading global technology company, aims to empower organizations of all sizes to digitalize their business processes through seamless connectivity. With a strong focus on innovation in areas like Augmented Reality, Internet of Things, and Artificial Intelligence, TeamViewer continues to shape digital transformation globally.
In conclusion, the findings from the report shed light on the critical role of technology connectivity in driving business success and fostering trust in internal data. As organizations strive to adapt to an increasingly digital landscape, investing in seamless connectivity emerges as a strategic imperative for sustained growth and competitiveness.