In today’s business ecosystem, speed is key. Most SMEs already realise that responsiveness and agility are some of the valuable advantages that they hold over large organisations.
Like a small fish in a sea of sharks, SMEs forfeit raw power; but in exchange they have the ability to get things moving internally much faster than the gargantuan corporations who have financial muscle but are muddled by internal bureaucracy.
With large, established players dominating the global market, SMEs must embrace fast, flexible business technology in order to thrive. Research conducted by Techaisle found that SMEs capitalising on the cost and speed advantages of cloud computing have a distinct advantage over their counterparts with regards to long-term success.
Techaisle’s research segmented SMEs into two sides of the digital divide based on their digital strategy and cloud tactics. SMEs that are born-in-the-cloud (BITC) and mature cloud adopters are developing business process advantages that even intermediate adopter SMEs will find difficult to overcome.
More than half of the mature/BITC group has reduced IT costs, as compared with just 5% of intermediate adopters. Some advanced group is more than five times as likely to have reduced business process costs. The mature/BITC group is also about twice as likely as the intermediate users to have improved employee productivity and business agility.
Overall, SMEs using an integrated approach to digitalisation are 52% more likely to reap the seven key benefits explored in the survey: increased revenue, improved profitability, better customer satisfaction and retention, increased sales reach, increased market share, improved upsell/cross-sell, and improved brand image.
The results from Techaisle’s research speaks volumes of the advantages of digitalisation. SMEs cannot just have one hand in the cookie jar. The cost of not adapting to the cloud is too great. They need to commit fully to digitalisation or risk being left behind on the wrong side of the digital divide.