“Research suggests that a significant portion of Canadian firms mistakenly believe they are making competitive levels of investment when they are not – causing them to slip behind their peers.”
“Most underinvesting firms don’t know they are underinvesting. Over one-third of Canadian businesses believe they are spending at levels equal to or above their peers when, in fact, the investments they are making in themselves fall below this level.”
“Canadian per-worker spending on Information and Communications Technology is 53% of their US counterparts.”
For years, the productivity of Canadian firms has been recognized to be below that of other countries, particularly the United States.
The above quotes are from a Deloitte study, The Future of Productivity, an in-depth review of the real causes of the problem. Their key finding was that 36% of Canadian companies were “overconfident”, while these companies believed their spending on technology was on par with others, they were in fact spending much less and as a result not keeping up to their competition.
While they described themselves as “aggressive” and “innovative”, they were unaware they were falling behind.
Where do you think you stand, is your company losing out to your competitors?
Smart System Innovations represents companies that have the tools and ideas to help organizations of all types find better ways of doing things so that they can thrive in today’s demanding environment.