How digital transformation can offer sustainability to SMBs in post-COVID times
Small and Medium businesses fuel a large part of the global economy. Since COVID-19 has started, everything has been challenging for SMB’s. It is essential to monitor this business sector and how it is progressing as they move into digital transformation.
This article highlights the advantages of digitization for small to medium businesses, emphasizing how important it is to focus on operation efficiency during an economic crisis.
Cutting rent costs
While making decisions about office space, many business owners would benefit from lowering leasing costs that could come from negotiating rent or a mutual agreement to shrink the space now that most employees are working from home.
But why is cutting rent costs a benefit coming from digital transformation? Cloud technologies give us amazing opportunities for remote teams to be as efficient at home as if they were in the office. Cutting energy costs is also a benefit of the cloud when working remote.
Expanding the team with top qualified personnel
Since remote work has become the new norm, most management teams are now opening up their searches to large geographical regions, which expands the talent pool.
Work flexibility in post-COVID
As it’s been shown, employees are more motivated to work for a company that offers flexible schedules and work from home options. But to keep that kind of flexibility when things start to go back to normal, SMB’s should continue to improve digital transformation which will allow an employee to work anywhere if needed.
Investments in cloud services and security are vital for having an efficient remote team while ensuring your company’s data security. Remember that first of all; data security is crucial in keeping your business away from a potential data breach.
There are certain countries where SMB’s benefit from governmental support when it comes to their sustainability. After all, these businesses find most of their financial support in the government sectors.
For example, Governments have been involved in deploying more digital technologies like cloud computing, AI, and big data. By emerging technologies like these, SMB’s can increase their growth opportunities, especially now that every business is looking to fast-track its digital journey and unlock the great potential of deploying services in a digital era.
From this perspective, SMB’s are already investing money in digital services and are already leveraging the transition towards potential infrastructure developments.
Especially for SMBs, now that we have so many digital options to help marketers and selling teams to thrive with their campaigns, the focus should be on digital marketing. Using technologies like AI-based tools or automation to improve their customer data, many companies can create better customer experiences and build loyalty around their brand.
To make sure your business chooses the right tools, you need to work on a digital analysis and analyze what services will best align with your needs. More than that, start exploring your processes’ weaknesses and how you can improve them through more digital tools.
COVID-19 has demonstrated that investment in digital technology is not a luxury. If organizations are to remain competitive, focus on digitalization is a must. More than that, not only cutting costs, but your business should focus on improving its capabilities through innovative solutions.