UK businesses lag in cybersecurity & tech connectivity

New research from TeamViewer indicates that only 25% of UK businesses consider themselves as leaders in their sector for cybersecurity performance. This places the UK at the bottom of the surveyed countries in terms of confidence in their cybersecurity capabilities.

The study also reveals that merely 1 in 20 UK businesses feel their technology operates seamlessly across their organisation, pointing to a significant 94% who recognise they have work to do in this area. This lack of seamless technology poses challenges despite the advantages noted by firms with better connectivity.

For UK businesses with excellent technology connectivity, 39% report leading financial performance within their industry and 62% state it grants them a competitive edge. Globally, 34% of businesses with top-tier connectivity believe their operational performance is on par with industry leaders. Seamless connectivity, where operations run without interruptions, is seen as critical for improving resilience and risk management, especially related to cyberattacks.

Mei Dent, TeamViewer's chief product and technology officer, emphasised the broader impacts of connectivity, stating, "Connectivity isn't just about driving workforce productivity and efficiencies. The approach of shifting connectivity from a supporting role and cost centre to one that empowers the business has an impact on growth, and ultimately revenue." Dent further noted, "Fragmented systems blunt competitive advantage so just being good is not good enough when it comes to connectivity. Businesses need seamless integration and harmonization of data to fully realise the opportunities that technologies like augmented reality (AR) and artificial intelligence (AI) bring."

The challenge of seamless connectivity is acknowledged by many UK organisations. Approximately 65% of respondents said improved technology connectivity enhances customer interactions and satisfaction. Additionally, 85% agreed that it fosters better innovation and is regarded as vital for maintaining talent retention. Furthermore, 73% believed it leaves more time for considered decision-making.

Despite these acknowledged benefits, global organisations face substantial obstacles in achieving seamless connectivity. Among firms with only good, rather than excellent connectivity, 30% are hindered by inter-departmental differences and 27% by the challenge in demonstrating the return on investment (ROI) of tech connectivity. Concerns around cybersecurity were noted by 24% of organisations with excellent connectivity as both a benefit and a hindrance to improved connectivity.

Trust in internal data is another significant issue holding back UK organisations. Various factors such as multiple versions of data (37%), conflicting data management practices (34%), and hardware reliability issues (31%) contribute to this distrust. Differences in data literacy further impact smaller organisations globally, with 40% of workers in firms generating USD $10-$49.99 million in annual revenue reporting a lack of data literacy, compared to 21% of workers in larger firms.

The capability to connect to any device, application, and system infrastructure and to utilise existing data significantly affects performance. It enhances smarter logistics operations, remote technical guidance, and reduces mistrust in data accuracy. Despite the evident benefits, 36% of UK respondents rate their data and system access as average or poor even outside their usual premises, including at home, and 38% possess similar concerns about other company facilities.

Dent concluded, "There is a long way to go for companies to achieve seamless connectivity, but the benefits far outweigh the initial investment of time and resources. Doing nothing also has a cost. With many struggling with increased competition and a lack of skilled labour available, organisations need to do all they can to attract and retain the best talent. And one way to do this is to offer a working environment with integrated systems and connectivity that makes it a great place to work and thrive in their careers."