By Daniel Hunter
Businesses in the UK waste at least £28,000 because of inefficiencies, according to a study of 2,000 employees.
The survey by Access Group, revealed that 48% of UK employees waste three hours or more a day working with inefficient systems, which over a year costs the average UK business at least £28,000, based on the UK's average hourly wage of £16.30.
Access Group said that due to inefficient systems, over half of respondents (51%) are not confident in the accuracy of data within their company’s internal systems.
The research comes at a time when increasing financial pressures coupled with the burden of red tape mean it is more important than ever for UK businesses to improve data accuracy while reducing inefficiency and waste.
Steve Sawyer, divisional director at Access Group, said, “It is staggering to see how much time and money the average UK business throws away because of inefficient systems. Something so easy to change shouldn’t be having this impact on businesses or their staff.
“The research shows that 45% of respondents admit they are frustrated at having to rekey information into internal systems and this frustration is leading to one in three UK employees considering changing their job or career. With over 25 million people employed in the UK, that is equivalent to over seven million people willing to move on simply because of inefficient systems. It is hard to imagine what the value is on the loss in knowledge after these departures.
The study found that the tasks which cause the most inefficiency due to poor internal systems are submitting expenses, scheduling work, filling out timesheets and billing finances