Published 22nd Jan 2023, 11:45 BST

The study, which was conducted by Censuswide on behalf of Software as a Service firm Adventoris, showed that 66 per cent are now finding it difficult to fund digitisation projects for their sales and marketing functions within previously set budgets

The results reflect how spiralling business costs across the board are impacting companies’ abilities to fully adopt digital sales advances, at a time when the shift to online purchasing is increasing exponentially.

CEO of Adventoris, James Clarkson, said: “As 2023 gets underway, these findings lay bare the impact the current economic climate is having on firms in the wholesale industry and it is disheartening to see the toll inflation and rising energy costs are taking.

A new study from Huddersfield firm Adventoris has found that two thirds of wholesale businesses are now struggling to fund vital digitisation projects.

“Digital processes are having an incredibly positive impact, but it is obvious from our findings that firms need support to be able to access these benefits."

The research showed that 19 per cent of wholesale firms have not yet been able to adopt digitisation, with budget stated as one the main barriers to adopting new technology.

50 per cent of those affected cited lack of knowledge and 33 per cent faced a lack of funding to progress any digitisation projects.

Censuswide’s research surveyed a nationally representative sample of 500 business leaders.

Inflation is stifling tech advances for two thirds of wholesalers, research from Huddersfield firm Adventoris shows