In an ever more global marketplace, small and medium -sized enterprises (SMEs) are forced to find and leverage any opportunity they can in order to remain competitive and also stay ahead of the curve. However, these past two years, which have been defined by uncertainty and disruption (thanks to the pandemic) have made gaining a competitive advantage a business imperative for small businesses the world over.

Small Businesses Bore The Brunt Of The Effect Of The Covid-19 Pandemic

Many had to close their doors for long periods of time and move towards a remote or hybrid work environment. The pressures of lockdowns and restrictions resulted in a significant drop in revenues, leading to small businesses having to contend with constrained budgets as well as a changing workforce.

Definitely one of the easiest and very effective ways for SMEs to not only keep their heads above water but also remain competitive is through the acceleration of digital transformation.

However, a recent white paper produced by the World Economic Forum white paper found that small businesses are still at a low to moderate level of technological maturity with only 23% of small businesses noting that the changes brought on by the pandemic had led to the acceleration of their digital transformation goals.

Common Problems And Challenges With Utilising New Technology

  1. Adopting New Technology Just Because It’s New.

A lot of new technology is quite useful, while some of it is just intended to sell. Even if the technology is useful, although, it might only be useful for individual companies. Research any type of new technology you are considering thoroughly and make sure that you can actually use it before purchasing it. Or else, you risk having another expensive paperweight or wasting disc space on the software which you never use.

  1. Not Implementing The Correct Systems And Procedures

New technology needs to be integrated into current business processes to utilise its full potential. Purchasing the new technology is not enough. After you buy the technology, your existing systems and procedures need to be adjusted in order to incorporate the new tech in a way that limits disruption and the requirement for extra training, while still taking advantage of everything the new technology has to offer.

  1. Not Winning Staff Over To The New Technology

Some individuals love learning how to use new technology. Others begrudge the change to what they consider to be tried and true systems and processes – a workflow that they can do with their eyes closed.

In order for the new technology to be successful in your organisation, you will have to win over your staff to its use. Ideally, you could make them see its benefits and get them excited about those benefits. Much like live dealer casinos, once understood how they work the perks are enormous. However even if they are not enthusiastic, everyone in your company that you expect to use the technology needs to do so.

Expectations of the new technology should be realistic, the impact understood, and barriers and risks investigated and identified to ensure that the integration of the new technology is delivered and adopted.

Last modified: April 1, 2022