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Only 18% of Spanish companies are prepared for the future

Although the vast majority of Spanish companies are satisfied with the rapid adoption of new technologies that they are making in their businesses, the need to be better digitally equipped means that only 18% are prepared for the future.

This is clear from the report ‘Fit For The Future’, or ‘FFTF’, by Vodafone Business, which highlights how some companies are better equipped to thrive in volatile and ever-changing environments.

According to this report, companies prepared for the future, and better able to face new challenges, have grown despite the long way ahead. And it is that, although Spanish companies are positive in terms of the perception of their business performance, knowledge of their clients or hybrid work, standing above the global average, they still need to improve further.

In the last two years, the digitization of businesses in Spain has experienced a notable boost and 62% of companies in our country have a digital roadmap, compared to 60% of companies worldwide.

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Not surprisingly, 61% of Spanish companies have accelerated their plans for digital transformation since the outbreak of the pandemic, compared to 55% of global businesses.

Likewise, the report indicates that 64% of these Spanish companies are prepared to face risks, compared to 58% of companies worldwide.

Part of the reason for this rapid digitization of Spanish companies lies in the fact that, according to what they point out, 77% of their customers expect to be able to interact with brands at any time and from anywhere through digital services. Likewise, 69% of companies consider that their clients want them to act ethically and have a clear position on social matters.

But in this commitment to digitization, The sustainability it also plays a key role, something in which 15% of Spanish companies agree, a percentage lighter than the 21% of companies worldwide that consider it to be so.

Spanish companies prepare for new challenges

Given these needs, the report points out that 32% of Spanish companies will increase their spending on ESG (Environmental, Social and Corporate Governance) and CSR, corporate social responsibility, from its acronym in English in 2022, compared to 37% of companies global level.

In this optimism about the progress made, 85% of the Spanish companies surveyed are also satisfied with the rapid adoption of new technologies, compared to 76% of those who consider it this way worldwide.

This leads them to also express their satisfaction with flexibility that allow in the workplace in a way that 78% say that they have increased the expectations of their employees regarding how and where they work. And it is that new technologies have not only brought improvements in terms of flexibility when working from any location, but also to enjoy greater freedom and autonomy when working, as well as in terms of working hours.

Along with this, 83% of Spanish companies are optimistic about the role of technology in society, and 78% are already taking measures to face a more automated future world. Likewise, 73% believe that technology will contribute to improving security in the next five years, compared to 56% of firms that believe it worldwide.

Although the data show a great step forward that Spanish companies have taken in their digitization, there are also a number of challenges that must be addressed in order to move forward. These include resilience in the face of disruption, the need to adapt quickly to changing customer and societal behaviors, sustainability as a basic element of the business, capturing new challenges and opportunities offered by data, and finally, rethinking the way talent is recruited and nurtured in organizations.

The study shows that those businesses that are better prepared will be able to face these challenges maintaining a positive attitude towards change, betting on new technologies and with a digital transformation strategy adapting to new trends.

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