Business leaders embrace regulation as springboard for success

Changing paradigm sees the unlikely combination of technology and regulation emerge as key enabler

Ricoh Europe, London, 27 February 2019 – The majority of business leaders across Europe see the introduction of government and industry regulations as enablers for success.

New research commissioned by Ricoh Europe, based on a survey of 2,550 business leaders from across 24 countries, shows a shift from the traditional mindset that regulation is a bottleneck and barrier. Over half (52%) agree that regulation is an enabler in the digital age – a sentiment echoed further with 55% seeing privacy regulations, such as GDPR, as a basis from which to achieve organisational success.

But it’s not just governments and industries that are having a positive effect. A similar amount (56%) view adhering to environmental regulations, such as the Paris Agreement, as a route to progress. Moreover, 67% of leaders are looking to invest in smart technologies that are environmentally friendly – indicating a growing realization of how people, the planet and company profits stand to gain from more environmentally focused business practices.

The research also reveals that 82% are investing in technology in its wider sense as an enabler, with 66% viewing the pace of technological change as a key opportunity rather than challenge. Almost as many (63%) believe technology is crucial for keeping their company compliant with regulations, reaffirming the notion that long perceived obstacles are rapidly becoming opportunities.

David Mills, CEO of Ricoh Europe, says: “Today’s business leaders are being held accountable like never before and face a constantly changing environment. The good news is that they are realizing the benefits of building their business with security, privacy and environmental considerations at heart. Using technology, business leaders can turn compliance from a headache into a strength, and even make regulations a facilitator for broader organisational success. They can now see the compounding benefits of using Intelligent Devices to boost productivity, aid problem solving and lessen the load of mundane tasks.”

Find out more at www.ricoh-europe.com/thoughtleadership.