A recent study commissioned by Neat reveals that outdated meeting technologies are costing Asia-Pacific (APAC) businesses a staggering $8.5m annually for a typical 1,000-employee company. The report, titled “From Lagging to Leading: How Smart Collaboration Redefines Work in Asia/Pacific,” surveyed 1,080 executives across the region and found that organisations lose an average of 4.5 hours per employee each week due to malfunctioning video calls and inefficient collaboration tools.
The study underscores the pressing need for APAC companies to adopt modern, intelligent collaboration technologies to enhance productivity and maintain competitive advantage. Despite a significant portion of employees returning to the office, with over 65% spending three to four days in-office, the technology supporting hybrid work models has not kept pace. This is particularly crucial as 72% of meetings now involve videoconferencing with remote colleagues.
Niko Walraven, Area Vice President for APAC at Neat, emphasised the financial and productivity implications, stating, “What many businesses might consider ‘good enough’ collaboration technology is, in reality, costing them significantly in both time and money.”
The report also highlights regional variations, with 29% of Singaporean organisations anticipating a shift to 100% in-office work within 18 months, increasing the demand for efficient meeting room technologies. Meanwhile, in India, companies face the second-highest productivity loss due to outdated tech, costing $9m annually for a 1,000-employee firm.
As the workplace evolves, the study predicts that by 2028, 70% of G1000 employee content will be enhanced with advanced modalities to boost collaboration. The findings suggest that investing in AI-driven, user-friendly collaboration tools is essential for transforming meeting culture and driving innovation and growth.
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