According to a new global research by Epicor Software Corporation, businesses in Mexico, China and India are increasingly turning to technology in order to successfully drive further growth. Around three quarters of Chinese and Indian firms (74% and 73% respectively) and 63% of Mexican firms cited IT investment as important, compared to a global figure of 54%.
Overall, the research indicates that many of the world’s businesses do not achieve growth in the same way as their emerging market peers and risk falling behind ‘grow getter’ businesses in emerging markets. This demonstrates a strong motivation to invest in technology to empower their organisations.
‘Grow getter’ businesses are those that take advantage of macro-economic factors by using technology to expand into new markets and locations swiftly.
In addition, the businesses in Mexico, India and China are the most likely to be growing in terms of geographic reach and overseas sales. India takes the lead, with 75% of businesses reporting overseas growth (63% in Mexico and 63% in China), compared to the US where 59% of businesses reported no further growth.
Kathy Crusco, chief operating and financial officer at Epicor comments: “Business leaders around the world can learn from the experience of ‘grow getter’ businesses in emerging economies. These companies use technology to adapt quickly in order to change and demand, allowing them to drive expansion into new markets and establish processes to adapt their product ranges to match consumer demand.”
Given our history in enterprise resource planning (ERP) software, this is something that Epicor has been passionate about for a long time. With intelligent, next-generation enterprise solutions in place, it becomes possible for businesses to be more confident in delivering their growth strategies,” Crusco concludes.