We are delighted to have received confirmation that our consortium competition proposal to help SMEs enhance their productivity through the adoption of digital technologies has been successful. Funded by the Department of Business, Energy & Industrial Strategy’s Business Basics programme, the proposal overcame fierce competition to emerge as one of only 12 bids out of almost 200 to be accepted.
In partnership with Aston Business School, Enterprise Research Centre, North East Local Enterprise Partnership, Greater Birmingham and Solihull Local Enterprise Partnership and Barnsley, Doncaster, Rotherham and Sheffield Combined Authority, we will engage with around 100 businesses based in the Northern Powerhouse and Midlands Engine areas.
Digital technology is well established as a ubiquitous part of business life and mastering its effective adoption and use in business is now an essential competence to achieve business success. Despite this, many businesses have yet to fully harness the power of technology. Our trial project will help businesses to overcome some of the main barriers faced, such as:
- A general lack of awareness of the potential benefits and opportunities.
- A lack of commitment from leaders and managers.
- A lack of skills and knowledge.
- A lack of trust in solutions/providers.
Marrying contemporary research with leading edge technologies, we will create a customised digital benchmarking tool and support process that will assess participant businesses levels of performance and practice maturity, and:
- Bring productivity to life for SMEs by helping them measure performance in a meaningful and understandable way, then compare against others to see how they stack up.
- Put the time and financial investment into technology adoption squarely in the context of potential financial return (or loss if not adopted)..
- Enable businesses to consider different digital products and approaches, with an understanding of the associated benefits and impact of each.
- Facilitate the process to provide trusted hand holding support where needed, including planning, taking first steps and maintaining momentum.
Mark Modena, Products Director at Winning Moves said “We are passionate about helping SMEs to develop and grow, so are delighted with this award. We have long recognised and harnessed the power of benchmarking, this project will enable us to utilise our unique platform BenchmarkIndex® to create a next generation tool that harnesses artificial intelligence to yield even greater insight for the benefit of the enterprises we work with”.