Businesses optimistic – supply chain tech investments

Companies are reaping big rewards from their supply chain technology investments, a trend that is expected to accelerate this year, according to research from technology provider Cleo and research firm Dimensional Research, published this week.

The companies polled more than 100 executives at medium to large organizations across North America and Europe for the report: Achieving Business Agility Through Ecosystem Integration. Their goal was to understand the greatest business threats facing companies in 2021 and 2022 and to determine what firms are doing to mitigate risks. Respondents identified the pandemic and subsequent supply chain disruptions as the greatest threats over the past year and said that technology investments are helping them address those challenges. Business leaders said they increased their firm’s agility by investing in “integration technology” in particular–solutions used to connect applications and systems to one another in order to share information and facilitate transactions between those systems. For about 20% of companies, such investments drove $3 million or more in additional revenue in 2021, according to the report.

“For 50% [of respondents] it was at least $1,000,000 [in added revenue], and for three out of four (73%), it was at least $500,000 – proving that integration technology, given its direct impact on both overcoming supply chain disruption and driving business growth, should be a top strategic priority among business executives,” according to the researchers.