PricewaterhouseCoopers has released results of a study, which show the impact of the Internet on today's fastest growing companies. For the study, PwC interviewed CEOs of 441 product and service companies identified in the media as the fastest growing US businesses over the past five years. Surveyed companies ranged in size from $1 million to $50 million in annual revenues.
Report findings show that these companies were quick to embrace the Internet and are now reaping the benefits of that decision.
Service companies included in the report expect to generate 21.8 percent of their revenue from e-business over the next year. Product sector companies expect to generate 9.3 percent of revenue from e-businesses in the same time period.
Service companies, which seemed to benefit most from their Internet presence, cited the following changes as a direct result of using the Internet:
- 64 percent - improved efficiency
- 53 percent - a change in approach to customer service
- 53 percent - a change in employee skill sets
- 51 percent - a change in businesses processes
- 46 percent - changes included new delivery systems for services or products
- 45 percent - additional revenues generated
- 45 percent - the development of new products or services
The CEOs from service companies also reported that the following factors will have an impact on their e-business projects over the next 12-18 months:
- 64 percent - customer or user adoption
- 64 percent - support at the top
- 62 percent - ability to adapt new or existing products to the e-channel
- 58 percent - adoption by their own employees
- 51 percent - system security
- 50 percent - network performance