SMBs & SMEs Investing In Technology to Drive Growth

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SMEs And SMBs Investing In Technology

Technology solutions for SMBs & SMEs facilitate any strategy aimed at their growth. That’s why investing in technology seems to be a good idea. They have different costs, but they all guarantee effective results.

Small and medium enterprises live in scenarios of intense dispute and need to optimize their processes to compete equally or differently. Therefore, investing in technology to boost the business is the right move for those who want to win in such environments.

And what are the most focused technology solutions for SMEs today? And why are they necessary? Let’s see the next points.

Investing in Technology is the Best Way to Reduce Costs.

All entrepreneurs are surrounded by taxes and other fees that surround their billings, which is why they always look for cost reductions. Investing in technology for SMEs is the best way to achieve this without changing the quality of the product/service or your employees’ remuneration.

First, it is necessary to observe that many SMEs have internal procedures in place that are out of the current context. It usually concentrates all management responsibility on a single person, which leads to a lack of dynamism in response to customers and staff. It will be common to see companies that depend on the owner’s assessment to close a partnership with certain suppliers. In some cases, even the purchase of essential materials for stock.

This can be avoided by adopting an online business management system. Thus, the entire top management will be able to monitor sales and finance and make decisions more agile. For example, think of a service company which in the same city has an administrative headquarters and a place where its equipment is kept. In this scenario, to buy a new part, the storekeeper needs to go and ask for the owner’s authorization from the administration.

It’s almost absurd, but it’s a common situation in the country. Investing in technology can easily solve this and guarantees the reliability necessary for the company owner’s wishes.

Also Read: Rise of SMEs in Dubai in This Digital Age

Technology for SMEs Improves Business Performance.

There are tools already well known by companies all over the world. They promise agility, interaction with customers and organization of processes. Therefore, we will present here 4 affordable technology solutions for SMEs. They are:

  • The chatbots
  • Cloud storage applications
  • Online ERP software
  • On-demand IT support

The Chatbots

SMEs that invest in online sales need to have an agile service to eliminate and clarify their customers’ doubts. However, how to do this without spending on a service team? The answer is simple: chatbots.

Today it is impossible to talk about the automation of some business processes without considering chatbots. They are nothing more than a technology of digital attendants. Chatbots can be programmed to provide ready-made, scripted automatic responses.

Also, in bolder versions of artificial intelligence, the robot will learn by answering its customers’ questions. This second model has been widely used. Basically, they learn from constant interaction. As customers ask, this software assimilates the information and goes after the best answers to satisfy the consumer.

Cloud Storage Apps

Cloud solutions are already part of the routine of many companies. Google Drive and Dropbox are the most common applications when it comes to storing files, spreadsheets, reports and others. They promote interaction between the team, which can share works which are developed in the sector simultaneously. This is a very low-cost but highly efficient technology solution for SMEs.

ERP Software

ERP (Enterprise Resource Planning) is a business planning platform. In other words, it aims to organize a company’s internal procedures in order to streamline and standardize work across sectors. And currently, there are online versions, which eliminate the need to have a server to operate the system, guaranteeing an excellent investment cost.

With the online ERP software, you will be able to:

  • Issue electronic invoices
  • Issue bank slips
  • Control the movement in and out of products in stock
  • Carry out a more secure financial management
  • Check and track all sales and other processes.

On-demand IT Support

You need IT support to help you implement all these features. However, it is rare for small businesses that can count on experts to help them around the clock. Whether due to financial resources’ scarcity or even not having enough demand to count on a dedicated professional.

However, all SMBs have IT problems and regularly need to request technical assistance to resolve them. One solution is to invest in technology on-demand support services. But what does that mean?

It is possible to request a technician whenever necessary, who will meet you on the day and time determined by you. Hiring this resource is like having the support of an IT area within your company, always at your disposal.

Planning is the Key to Success!

As we have seen, investing in technology solutions for SMBs & SMEs is nothing out of this world. However, it is necessary to prepare your business to receive them. After all, investing in technological resources without a goal is no use. You have to put them into practice with a purpose.

In other words, think about what issues you need to solve with the help of these technologies: reduce costs, reduce idleness, improve the customer service process, and centralize information and so on.

In short, investing in technology is an essential step toward successful implementation. So, quickly, your business will be able to achieve the goals that have been set, achieving the best possible results.

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