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Small-Medium Aussie Businesses Turning Backs On Digital Push

Australian businesses are polarising into digital “haves” and “have-nots”, with 56 percent of small and medium Aussie businesses (SMEs) turning their backs on digital tools, according to a new ANZ Bank report that canvassed the views of more than 1000 Australian businesses.

Problems are said to include the high cost of technology systems, as well as doubtful returns on investment.

The research suggests that the economic benefits of digital transformation are not being spread evenly across the economy and labour force.

The report comes as most Australian banks are preparing to switch on functionality for the so-called “New Payments Platform” that will hopefully provide rich, real-time transactions.

“I’ve given up. I’ve gone back to spreadsheets. The accounting systems out there just don’t meet my business needs,” said one unnamed manufacturing business cited in the report.

“I’ve tried several, they just aren’t flexible enough and I can’t customise them to my business. I need full control over the products and pricing in my accounting system and I can’t find a software tool that will easily allow me to do this.”

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