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How have SMEs benefited from Digital Transformation?

Lily Howell Jan 14, 2021 12:00:00 AM
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For many small and medium organisations, digital transformation is top priority over the next few years. But there are still a number of businesses choosing to remain stagnant, despite the many benefits of digital transformation.

If your business isn’t looking to digitally transform itself, there is a high chance that you will face much stiffer competition from more tech-savvy competitors that are already benefitting from digital transformation.

For SMEs wanting to stay in the game, digital transformation must become a priority and if your managers need some persuading, we’ve outlined the benefits digital transformation will bring.

4 ways SMEs have benefited from digital transformation

Increased savings and business efficiency

Digital transformation simplifies and strengthens routine processes and operations for your customers, staff and others helping to streamline and speed up tasks, therefore boosting productivity and helping save costs.

Investing in technologies like Artificial intelligence (AI), Automation and Machine Learning means organisations can begin to understand customers and anticipate their behaviour. Technologies like these enable SMEs to record, manage, and measure customer interactions with their business to make room for more accurate sales forecasting.

Gain data-driven insights

In an ever-evolving digital landscape, data is one of the most valuable assets an SME can have. If SMEs are smart, they can use the data to make data-driven business decisions, adjust strategies and position themselves for growth.

Many analytics tools allow businesses to track and analyse website performance, assess marketing campaigns and establish the success of their content in real-time. Having this information means businesses can make informed decisions to deliver user-focused customised products and services.

Check out our blog “What is Microsoft Power BI” for insight on how the business intelligence tool could be of use to your business.

Improved customer experience

By improving customer experience through digital transformation, SMEs can collect and analyse important customer information through tools such as data analytics, feedback collection, marketing automation.

With vast amounts of data on tap, small and medium organisations can leverage what they’ve learnt about their customers to deliver personalised services and provide new channels for interaction by using chatbots, self-service, and customer relationship management.

Increase competitiveness, agility and innovation

Thanks to cloud-based solutions, the divide between established businesses and small companies are shrinking to the point where SMEs can now compete with larger enterprises.

The cloud helps levels the playing field for small and medium enterprises. It allows SMEs to retain the flexibility and efficiency of a startup and offering quality services at scale.

Traditionally, lack of funds meant small and medium organisations were unable to keep up with trends and scale quickly. The emergence of cloud solutions enables SMEs to remain competitive, agile, innovative at a fraction of the historical costs.

Every business is unique, meaning no two businesses will have the same digital transformation roadmap. Developing a roadmap that meets the needs of your business can be tricky and there are many stages to think about.

As experts in IT, communications and cybersecurity, Netitude can work with you to fully understand your business needs and provide the right technology and cloud services to not only enable but accelerate your business growth. Technology constantly changes, and so do your requirements. Our fully managed model ensures we stay in tune with your business, and enable your organisation to use technology as a strategic advantage.

If you would like to understand how digital transformation applies to your business, get in touch with one of our experts today, we’re always happy to help!

CTA: Get in touch to discuss your needs with an IT specialist, today!