The SME guide to digital transformation
The digitalisation of businesses has continued at great pace in recent years, and the pandemic has only served to accelerate this trend even further.
But as larger companies adapted to changes and invested in digital transformation early on, smaller companies have lagged behind. And the smaller a firm is, the less likely they are to adopt new digital procedures, instead sticking with the basic services they already know.
So – why have SME businesses been slow to adopt digital transformation?
Slow digital transformation adoption has been a persistent issue in SMEs, with lockdowns only acting as a disruptive catalyst to highlight who was an innovator and who wasn’t.
A lack of appropriate infrastructure, a digital skills gap, and a lack of investment have left small and medium sized enterprises with little scope to adapt to lockdown operations or social distancing measures.
Now that measures are slowly being lifted, how can digital transformation help SMEs regain their feet in the business landscape?
Whether motivated by desirability or necessity, SMEs need to embrace emerging technology to better position their business for long-term growth.
Going digital and leveraging emerging technology can generate increased savings and efficiencies, improve customer experience, increase competitiveness, and deliver strong, data-driven market insights for SMEs.