According to an annual report published by Loftware, one of the largest global software companies specializing in enterprise labeling and artwork management, almost three-quarters of companies believe the cloud will be the preferred method for labeling applications within the next three years.
According to Loftware’s report, 73 percent of businesses believe the cloud will be the preferred method for labeling applications in the next three years. This compares to just 50 percent of respondents reporting their company’s likelihood of adopting a cloud-based solution a year ago.
The global report (Top 5 Trends in Labeling and Packaging Artwork 2022), which draws on insights from nearly 1,000 professionals across industries in 55 countries, found a significant shift in business attitudes toward cloud technology over the last 12 months. Driven by the Covid-19 pandemic and recent supply chain crisis, businesses now recognize that labeling is no longer a tactical necessity but an enabler for business growth and agile supply chain operations.
Most business leaders surveyed (90 percent) recognize that standardizing and centralizing labeling will help them keep pace with business growth. More than eight in ten (84 percent) cited cost savings and compliance as key benefits of introducing a modern labeling technology. Notably, 42 percent of businesses reported having already moved to the cloud for their enterprise applications.
‘When speaking to our customers and partners, it’s clear that one subject is top of mind: cloud adoption. Forward-thinking companies see the opportunity. There is huge potential to scale, standardize practice, and ultimately drive improvements across the enterprise. Businesses that can effectively pivot and embrace new plans for maintaining a business will have a competitive edge and set themselves up for future success,’ said Josh Roffman, senior vice president of marketing and product management at Loftware.
The report also revealed that Covid-19 is set to have a lasting impact on the way businesses operate. With the continued surge in online shopping comes a renewed focus on labeling and packaging to accommodate increased packing and shipping as consumers move away from traditional retail. This trend was highlighted in Loftware’s survey, with almost half (43 percent) of respondents expecting their organization to adopt more of an e-commerce business model as a direct result of the pandemic.
In addition, 63 percent of businesses reported that cost-cutting and operational savings have become more critical to their business because of Covid-19. Moreover, the shift to dispersed working isn’t expected to wane anytime soon and could long outlast the pandemic itself. As a result, many companies are investing in cloud-based technologies that allow employees to work, collaborate, and contribute even when they’re not physically onsite. This was supported by 57 percent of respondents who said it is important to print labels remotely to enable their business operations.
‘Business models are changing. If 2021 was the year the world learned the importance of agile global supply chains, this year will be dominated by the need to adjust to these new realities. Businesses around the world are grappling with labor constraints, port congestions, driver shortages and raw material outages – to name just a few. This is why it’s vital that business leaders think differently about processes, operations, and supply chains to ensure prosperity,’ concluded Roffman.