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JP Morgan study: how German midcaps are embracing technology

Friday 28 May 2021 15:10 CET | News

German businesses are doubling down on globalisation, embracing technology to adapt, and planning for ownership transitions in the medium term, according to a JP Morgan survey.

JP Morgan surveyed 238 senior executives of German mid-cap companies and found that nearly 60% believe the global and German economies are heading in a positive direction over the next year. This optimism is being fuelled by three-quarters of respondents reporting that they anticipate revenue/sales and profits will increase in the year ahead. 

While many executive leaders are optimistic about the future, they’re faced with the realities of an unpredictable operating environment. According to the survey, top challenges include:

  • COVID-19: Many of the challenges executive leaders face are still directly related to COVID-19, as 37% of businesses report shifting consumer habits due to COVID-19 as their top challenge.

  • Supply Chain: After the desire for new customers, another challenge executives cite around their international activity is gaining access to suppliers and materials. As contributing factors, 62% of executives say the pandemic has increased supply chain issues, and 28% say Brexit has made supply chains worse as well. 

  • Internet Reliability: More than a quarter (26%) of executives surveyed cited a need for technology upgrades to stay relevant as one of their top three business challenges. A lack of high-speed internet is a longstanding issue that has only become more apparent over the past year—nearly half (46%) of executives would like the German government to focus on improving access over the next year.

For more info, you can read the full survey here.

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Keywords: survey, COVID-19, supply chain finance, Brexit
Categories: Banking & Fintech | E-invoicing, SCF & E-procurement
Countries: Germany
This article is part of category

Banking & Fintech