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Half of firms avoid investing in tech because of cost

Almost half of firms (48%) are putting off investing in technology for their sales teams because of concerns over cost, according to research from SugarCRM.

The SalesTech Report from CITE Research, on behalf of SugarCRM, found that many businesses are reluctant to spend money on new technology because of the impact on the bottom line. Despite this, 63% of UK companies spend at least £1,200 on technology annually per sales representative to equip them with the right tools to do their jobs effectively – including smart phones, laptops, CRM systems and web meeting platforms. Nearly a quarter (22%) of the respondents said they spend at least £2,400 per sales employee.

The research also highlighted a lack of confidence and expertise in installing new technology, with 34% of respondents admitted to being worried about the complexity of introducing new tech systems – and 20% concerned about a lack of skills in using the tools.

“In today’s digital age, technology is a crucial asset to improve the effectiveness and productivity of sales teams,” said Larry Augustin, CEO, SugarCRM. “However, these survey results indicate the challenges organisations are facing when it comes to evolving the way their sales teams work. It’s clear there is still work to be done when it comes to overcoming obstacles and reframing how we think about technology in the workplace.” 

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