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4 ways technology can help SMEs grow

31 August 2016 5 MIN READ

Technology has revolutionized business and has now become a critical component for business success.  There are enough examples to show how technology has transformed the way we work, interact, learn and develop. So how can SMEs leverage technology to stay ahead of the curve?

  1. Focus on the core:

Running a small business comes with its own set of challenges. From checking the inventory to managing sales meetings, there is a lot that a business owner has to juggle with. With the right systems in place that can handle business operations and give real time analytics, SME owners can reduce the time spent on running the daily chores and refocus where it matters most.

  1. Customer Communication:

With automated systems and use of digital technologies, SMEs can make communication with customers quick and easy. Customers also appreciate prompt response and acknowledgement of their queries. Adding analytics here would also help SMEs understand the customer trends and prepare themselves accordingly.

  1. Financial Management:

How many orders have I processed, what is pending, bad payments – these are the common financial challenges that a SME has. With the right SME technologies in place, you can track each and every order, from start till end, in a single click. Since everything is integrated in a system, it reduces the risk of missing information or frauds.

  1. 24X7 connectivity:

In this digital age, no business can afford to be “off”. With the help of online portals and support systems, small businesses can be available to their customers and prospects around the clock. This would not only help in better customer satisfaction, but also in accumulating new business queries.

SMEs need technology, but they often hesitate to adapt them due to lack of expertise.  The best way is to connect with a partner that has industry expertise, identify the gap areas and then proceed. We will soon share some tips on best practices for SMEs while adopting new technologies. So stay tuned!

About the author

Nidhi Batra

Nidhi Batra is a brand communication specialist at Uneecops. She is an active contributor to SAP Business One community and loves to write on smart and intelligent technology which is redefining business models such as SAP Business One, SAP Cloud, Tableau and Power BI. Having Master’s in English from Delhi University, she follows Gartner and spends her time reading avidly about Artificial Intelligence, SAP HANA, Cloud, DevOps, IoT, robotics and business automation.. Tweets at @nidhi_niya

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