AUSTIN, TX—Epicor Software Corp. has announced that its 2020 Global Growth Index report shows that companies across the globe are embracing technologies to offset the impacts of global volatility, such as COVID-19 and supply chain disruptions. These market conditions are fueling the need to enhance business resilience over the next 12 months, with companies prioritizing better technology (41.4 percent), better planning (38.9) and working more efficiently (40.9).
Two other key themes identified through the research are investments in artificial intelligence (AI) and big data are paying off, and the cloud is poised to be a priority. AI is driving growth and proving worth the investment for most organizations, with more than 80 percent of respondents reporting that AI delivered business value in 2 years or less. According to 85.4 percent of total respondents AI was driving growth overall, with 37.9 percent specifically reporting that it helped to increase competitiveness.
Big data analytics is driving growth and proving worth the investment for most organizations, by optimizing operations (42.7 percent), increasing sales (44) and improving profitability (45.3). Cloud technology is set to be a key strategic priority, with one out of four respondents saying they will prioritize investing in it in 2020.
When asked about key technology trends that are expected to be emerging over the next 12-18 months, cloud was chosen as the second most likely to have the biggest positive, direct impact on future industry growth. A significant portion of the companies surveyed for the report, have reported growth, with 71 percent reporting an increase in profits and 61 percent seeing an increase in market share over a 12-month period from April 2019 through to March 2020. However, growth projections for the next 12 months have been tempered given some of the challenges organisations have faced.