DIGITAL TECHNOLOGIES SHOWN TO AID SME DEVELOPMENT
New statistics have indicated to Verastar that small to medium sized enterprises (SMEs) which maximise digital technologies experience a more rapid pace of development.
Essential to company survival
Software solutions provider SAP recently commissioned a new study which was carried out by IDC, an IT research business. The study focused on SMEs, analysing data collected from 3,210 respondents across 11 nations who are employed by businesses which have between 10 and 999 members of staff.
The research strongly suggested that SMEs throughout the world understand that utilising analytics, collaborative and customer relationship management (CRM) software can help them compete with larger enterprises. Over 39% of respondents across every region included in the study agreed that “active participation in the digital economy will be essential to our company’s survival in the next three to five years.”
Online entrepreneurial portal Growth Business reports that the study linked digital technology utilisation with SME revenue expansion. Companies questioned, which saw revenue by more than 10% in the past year (over a third of those surveyed), admitted that they are “well underway in applying technology to connect people, devices and businesses.”
The survey revealed that ‘collaborative software’ is the digital technology most utilised by SMEs. Over 50% of respondents across every region now use it to operate their businesses. Also, 38% and 37% of SMEs in every region surveyed utilise CRM and business analytics software respectively. Meanwhile, between 52.5% and 60.2% of SMEs admitted that “new technology solutions have allowed us to begin or continue revising our workflow and processes to streamline operations and improve productivity.”
Impact of digital transformation
Commenting on the research Rodolpho Cardenuto, the president of global channels and general business at SAP, explained: “The overwhelming message from this report is that digital transformation has a big impact on small businesses around the world.
“It is proven that companies using these technologies run simpler and grow faster. It is also clear that personal connections and business instincts continue to play an important role in making the right decision. SMEs should think about navigating a digital transformation journey that lets them combine the best of both worlds.”
Utilising digital technologies
The impact of the digital transformation hasn’t escaped the UK. A survey of more than 1,000 employees and IT managers by IT provider Computacenter showed that 80% of UK employees believe that technology is crucial to businesses success. As the SAP commissioned study suggested, this is because digital technologies can streamline essential business tasks, allowing smaller companies to expand at a more rapid pace.
If you want to capitalise on the capabilities of digital technologies to grow your business, you need to ensure your company can rely on effective broadband. kinex, a brand operated by Verastar, supplies the first-rate commercial broadband services SMEs require to maximise digital technologies in order to aid expansion.
Verastar is a leading provider of essential business services to micro SMEs, operating under the following brands: kinex, Clear Business Water, Titan Telecom, Marble Telecom, Economy Gas and 118777 Limited. Our business model is focused on providing a spectrum of consolidated services that disrupt traditional markets and create great savings, efficiencies and value for our customers.