Better Accounting notes that the economy depends on small and medium enterprises (SMEs). These organizations are where innovation is at its best, and most SME leaders understand the importance of making a digital transition. If your team isn’t incorporating the right tech tools to drive you to success, then you can bet that your competitors are (or it’s only a matter of time before they are).
Cybersecurity
businesses are increasingly vulnerable to these attacks. That’s especially true for SMEs that are ignoring security despite the prevalence of threats.
If you don’t currently have a cybersecurity strategy that incorporates common-sense practices and up-to-date technologies, that must be a top priority. Look into antivirus software and research steps you can take to protect customer and company privacy and data. If you already have cybersecurity solutions in place, make sure they’re adequate for the times.
01
Business Process Management
Adopting business process management (BPM) is a fundamental method of streamlining your processes and workflows. This is one of the first steps you should take in digital transformation because it automates and optimizes many of the tasks your team would otherwise have to handle manually.
Since most employees desire to spend their time on meaningful jobs, incorporating elements of business process management technologies and solutions can be an easy sell. Just be sure to institute a solid framework and consistently track the effectiveness of your processes so you can make the necessary improvements.
02
Cloud Solutions
Cloud computing isn’t new, but, as Salesforce points out, it has come a long way in recent years and more SMEs are incorporating it into their operations. In short, using the cloud is more convenient, secure, and efficient than not using the cloud.
There are countless cloud-based tools to consider for your team, most of which are free or affordable. Even higher-cost technologies can prove worth the investment if they save your team enough time, energy, and money in the long run. Start by researching time management tools, such as time trackers and calendar apps that help you meet deadlines and keep up with meetings.
Here are a few other technologies to look into:
- Project management software
- Social media platforms
- Web builders
- Online payment processing systems
- Customer relationship management (CRM) tools
03
Flexible Schedules
Most industries are embracing flexible working because it’s proving to help companies expand their reach. If you want a healthy transformation for your SME, remote work for knowledge-based positions must become a priority.
Another thing to consider is that millennials are starting to dominate the job market. And because these workers tend to value their personal time and flexible schedules, SMEs that hope to attract top talent should learn how to incorporate remote working into their structures.
04
Personalized Customer Experience
Thanks to the web, consumers have more information than ever at their fingertips. And they’re using more digital tools to engage with brands and purchase products and services. Some traditional marketing methods can no longer help SMEs stay relevant in today’s landscape. You must think about how you can engage your customers at each stage of the buyer’s journey because it will impact how consumers perceive your brand.
Improving customer experience is one of the most crucial goals your business can establish. Using marketing automation, data analytics, feedback collection, and other technologies can help your team gather and analyze valuable customer information so that you can tailor your products, services, and marketing efforts accordingly.
