Businesses prepared to innovate because of Covid-19

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The adoption of digital technology has accelerated in the wake of the Covid-19 pandemic, with a 40 percent increase in the number of businesses giving priority to innovation.

An Asia Pacific survey by Microsoft has found about a quarter of 420 New Zealand organisations were leaders in promoting innovation, which was significantly more than the Asia Pacific average of 8 percent.

“Organisations in New Zealand have realised how much their ability to innovate fuels their performance and business resilience during the crisis,” Russell Craig, national technology officer, Microsoft New Zealand said, adding 58 percent found it easier to innovate.

“New Zealand businesses are well-positioned to become innovation leaders and drive further economic growth for the country.”

Nearly two thirds of New Zealand organisations were speeding up the adoption of digital services, such as payments, e-commerce and automation.

Craig said about a third of New Zealand organisations thought a focus on innovation over the next 12 months was essential for building resilience and recovery.

“It is encouraging to see business leaders in New Zealand recognise that focus on people and culture, in addition to technology, is crucial to drive sustained innovation and realise the digital transformation ambition,” he said.

Despite the recent progress, the survey also indicated New Zealand was still lagging behind the region’s leaders.

“Forty percent more innovation leaders in Asia Pacific, as compared with organisations in New Zealand, expect an increase in their revenue and one in three of them expect to increase their market share despite the crisis.”

 

SOURCE: RNZ

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