As a business grows from strength to strength, becoming more successful and moving from a small business to a medium sized business and beyond, ongoing investments, particularly in IT and HR, have the power to yield even greater gains in terms of profitability both now and in the future. Yet these critical investments are often forgotten or delayed, holding back the business’ growth.
According to The EY Australian Productivity Pulse, even though Aussie businesses spend an estimated AUD 44 billion p.a on IT, just over a third of employees report that they are delayed at work by issues with out-dated IT systems. Further, seven out of ten employees say that “faster access to more accurate data and analytics allowing them to make better business decisions” would boost their productivity.
The number of Australian businesses finding themselves in this situation of lagging behind in IT infrastructure investment as they grow is not small at all.
With the latest GE Capital research, indicating that just over 60 per cent of mid-market businesses expect to grow revenue in the next year and Australia’s 27,500 mid market businesses contributing AUD 425 billion p.a. to our economy, the benefits of getting ahead through HR/ IT investments are great.
Mitrefinch provide bespoke employee time and attendance software systems, making it easy to manage a growing workforce. As well as monitoring employees’ clocking in and out times, the system collects attendance information which you can analyse to find better ways to increase productivity, cut administration costs, reduce absence and eliminate costly payroll errors. To see how much money you could save by implementing Mitrefinch’s system, try out our ‘ROI calculator’ here.