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Newport Board Group, a National Business Advisory Firm of CEOs Serving the Emerging Middle Market, Releases a Technology Roadmap for Private Companies
Date:5/6/2013

San Francisco, CA (PRWEB) May 06, 2013

During the wrenching economic recession of the last five years, many smaller companies cut back their technology investments including hardware purchases, software upgrades and on the adoption of new technology. Larger companies were not forced to make such deep cuts to their technology platforms and applications. Middle market companies must now play catch-up to keep pace with their larger competitors.

Despite the impression one gets from the media, many smaller companies are living, technologically speaking, in the era of Gunsmoke not Star Trek. Companies often lack an understanding of new technologies and their value. Few business owners have technical backgrounds. Even fewer technical people working for them have business backgrounds. The good news is that it’s not too late for the right technology consultant, who is expert in disciplines like databases, wireless technology and social media, to help catch up fast.

Social Media – Need to Catch Up

The University of Maryland's Smith School of Business recently looked at adoption of social media by smaller businesses.

The study concludes that only one in five smaller business owners are integrating social media into their business processes. That leaves four out of five companies not integrating social media into their business processes. Consider the ecosystem that these companies are failing to connect with:

  •     One billion people actively use Facebook every month
  •     500,000 people use Twitter every month
  •     Google’s plus 1 button is used more than 2 billion times each day
  •     5 million photos are uploaded to Instagram every hour
  •     3,600 hours of video are uploaded to YouTube every hour

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