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Northern Ireland needs a productivity revolution

2nd June 2020

Business growth enablers, Flowlens, says that Northern Ireland businesses will need a revolution in productivity if they are to flourish and thrive after the current coronavirus crisis.

The call comes after recent reports from theOffice of National Statistics and Bank of England showed continued weak growth in labour productivity - a finding that has been described as ‘the statistic of the decade.’*

According to the Bank of England’sMonetary Policy Report (May 2020), the recent drop in productivity has likely come as a result of furloughing schemes, containment measures, such as self-isolation and care for other family members, and new ways of working - especially considering inexperience of working from home or a lack of systems in place to accommodate it.

Speaking about the impact the current lockdown restrictions has had on business productivity, Rich Dale, CEO of Flowlens said:

"It’s not a huge surprise that productivity levels may have declined during lockdown, but it is worrying as these levels were already significantly low before the coronavirus outbreak.

"Productivity is the main driver of economic growth. It is something that businesses across the UK need to work on, in order to sustain themselves in a downturn and be ready for future growth. This extended lockdown period is going to further damage our productivity rates as a whole this year, but taking strategic steps to improve outputs and streamline processes will help.

"This is at the heart of what we do at Flowlens. By thinking in a joined up way, instead of in silos, our customers experience vastly improved productivity, which means saving time, resources and allowing the deployment of resources elsewhere. This will prove crucial in the coming weeks and months ahead.”

Flowlens specialises in ‘joined-up’ cloud sales, manufacturing and reporting systems for small manufacturing businesses that makes industrial equipment and products. Their specialist software helps businesses across the UK and Ireland, achieve rapid growth in sales, streamlining stock and operational processes, reducing manual admin, in favour of higher value tasks.

Rich continued:

"The impact of Covid-19 has already been hugely detrimental to businesses, with the loss of staff, customers and supply chains in many cases. However, this time can and should be used as a chance to review and reevaluate how you have been operating – eliminating silo thinking, identifying possible efficiency opportunities and preparing to improve your business when we all come out the other side.”


For more information or to book a free software demo, visit www.flowlens.com.

 

*Royal Statistical Society, December 2019

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