More than a third of independent UK retailers still rely on pen and paper to manage vital parts of their businesses such as managing inventory and ordering stock, a new survey has revealed.

The research, from Lightspeed and Savethehighstreet.org, found that only 15 per cent of the 2,000 businesses surveyed said they had an EPoS system installed to help them run day-to-day operations.

With independent retailers feeling the increasing pressure to juggle both an online platform as well as a brick-and-mortar store, the need to implement the right technology becomes paramount in order to be able to compete, the survey indicated.

Lyndsay King, founding partner and community director at SaveTheHighStreet.org, said: “From the very start, our goal has been to help British independents face the ever-changing economic landscape and find the tools to remain competitive against the big players in the market.

“Technology is a key piece of the puzzle for SMEs going forward. Business owners who have adopted tech systems to manage day to day business are finding they save time, money and are able to see their businesses profit and grow faster. It's worth the initial investment to get it up and running.”

Jerome Laredo, vice president EMEA and Asia at Lightspeed, added: “Technology has become such an important part of how we manage our daily lives. With the 10 year anniversary of the iPhone coming up, we can see just how far we have come and the incredible effect tech has had in a relatively short amount of time. Yet there is still such a small percentage of independents that use up to date technology in their businesses.”

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