The UK is leading Europe with scale-up investments according to the latest Tech Nation report: UK Tech on the Global Stage. We take a look at how NetSuite’s cloud business management suite can enable those tech scale-ups to flourish.
Tech Nation have been reporting on the evolving tech ecosystem since 2015, partnering up with sources including Companies House and the World Economic Forum. As figures this year reveals scale-up investments are now driving the UK’s tech advantage, scale-up strategies, including technology-based business management systems are now in demand for UK based companies to grow nationally and internationally.
The UK tech scale-up investment figure saw a huge increase of 61% in comparison to the previous year. This was in fact 2.5 x higher than anticipated and makes the UK 4th in the world after the US, China and India. Figures also show that 35% of tech unicorn businesses within Europe were created in the United Kingdom. With the UK now a hub for tech growth and success, cloud business management solutions such as NetSuite are utilised as an integral part of a growth strategy.
According to the Chief Executive of Tech Nation, Gerard Grech, with the UK’s success in securing funding, it is now paramount for organisations to implement scale-up strategies successfully if Britain is going to remain a leader in the tech world.
“UK can only remain a leader in tech innovation if British start-ups excel at scale” Gerard Grech, CEO at Tech Nation
Therefore, laying the foundations for growth means creating an infrastructure which will not require new software as the company gains in size, but instead has the agility to adapt and grow with the business. Not only should a system have the capacity to scale, but to do so in a rapid manner, which NetSuite does. Investing in a slow responding solution, can be critical for a rapidly scaling business. Organisations who do not consider these things, run up the risk of financial instability when the time will inevitably come to reinvest in new systems and software to cope with more employees, processes and overall management. Therefore, a cloud-based solution will not only be more financially viable in the long-term, but it will also enable scale-ups to think big.
NetSuite Scale-up capabilities
NetSuite is the world’s most deployed Enterprise Resource Planning (ERP) solution which enables organisations to scale their business, eradicate inefficiencies and increase productivity by providing ERP, Customer Relationship Management (CRM) and ecommerce solutions in a single business management suite. NetSuite OneWorld enables you to manage multinational and multi-subsidiary operations enabling scale-ups to think global without investing in further systems to do so.
Many technology businesses, including unicorn organisations today are using cloud business management solutions due to the agility, ability to rapidly expand processes and the competitive edge that these features provide. Given the UK is currently leading in Europe for tech scale-up investments, it important that the right systems are deployed to not only manage the current system, but to have the ability to manage any potential scale-ups in the years to come. With NetSuite, businesses have the ability to think big and think global.
Would you like to learn more about NetSuite? Contact us with your questions and request a free demo. Are you running a scale-up? How are you ensuring your digital strategy has longevity? Comment below!
UK can only remain a leader in tech innovation if British start-ups excel at scale https://www.telegraph.co.uk/technology/2019/05/13/uk-can-remain-leader-tech-innovation-has-borderless-mentality/
Tech Nation: UK Tech on the Global Stage http://bit.ly/2Z83Dqw