7 Reasons Why Digital Transformation is Important for SMEs

Digitally transforming a business has incredible benefits where there’s a common belief that if you’re not online, you’re not real. Businesses are increasingly working with IT consultants to provide their team with the right tools, processes, and strategies in order to digitally transform.

However, SMEs tend to lag behind when it comes to making this giant step forward. This is partly due to the limited knowledge of their business’s existing security threats and a lack of understanding of the full digital landscape.

Covid-19 has accelerated the importance of SME digitalisation where global studies show that up to 70% of SMEs have intensified their use of digital technologies.

If you’re thinking about making the move but don’t know where to begin, we can show you how working with a managed service provider will accelerate the growth to support your SME’s digital transformation strategy.

What is Digital Transformation?

Don’t know what a digital transformation is? Let’s explain.

Digital transformation is an ongoing process of innovation that turns a physical item into a digital version. This includes incorporating digital technologies within all areas of your business. When modernised strategies are put into place, an organisation remains competitive enough to meet the evolving industry and customer expectations.

Digital transformation involves different technologies that serve unique purposes and requires continuous optimisation. Here are some examples:

• Reducing human and administration overheads with automation
• Using cloud technology to back up your important data
• Incorporating AI technology to streamline workflows
• Responding to customer demands without increasing internal resources
• Increasing staff and customer engagement
• Increasing collaboration and communication via integrated systems and software
• Tracking performance and producing reports on real data

Here’s why it’s important:

1. Stay Competitive

The world is increasingly moving into a digital space where it’s now impossible to compete when you have outdated hardware, software, and practices. Programs lag, connections drop out, and someone misses a notification for an important meeting. The problems are endless.

Beginning a digital journey has long-lasting impacts, where managed service providers can create and implement unique strategies to solve your business’s specific challenges. They stay on top of the latest tools and technologies and understand how to implement them into your IT setup, providing you with the ultimate key to success.

2. Stabilise and Prepare

If there’s anything these last few years have taught us, it’s that you can never be too prepared. Creating a strategic assessment to understand where you currently are, where you want to be, and where you could potentially be tomorrow, are all extremely important to your business’s success.

All of this vital information helps you understand how to navigate various possible outcomes. Moving into a digital world allows you to create, understand and analyse reports, allowing you to make real decisions based on real facts.

3. Enhance Efficiencies

Moving into the digital world empowers your team to work more efficiently and effectively by facilitating new and accommodating ways of working. By streamlining and automating your tasks, you transform the way you work and gain back your time to spend focusing on other critical areas.

Whether you’re working remotely or in the office, a managed service provider has the ability to put these improved processes into place.

4. Grow and Reach Your Network

Digitalising your SME connects you quickly and securely to your network of contacts, systems, and teams. You have the ability to connect to a large network that you previously did not have access to.

This allows you to reach new audiences and grow your business.

5. Boost Business Profits

The businesses that do undergo a digital transformation improve their collaboration and efficiency by streamlining work, ultimately increasing profit margins. Reports have shown that 85% of companies experienced an increase in their market share.

6. Protect Your Business

Hackers understand that many SMEs are unprepared when it comes to facing sophisticated cyber-attacks. COVID-19 has unfortunately exploited this lack of preparedness which has led to a greater increase in cyber-attacks.

Digitally transforming your organisation allows you to recognise potential risks, put plans in place to reduce risks, incorporate cyber security training, respond quickly to any sudden changes and more.

7. Working With The Experts

Partnering with managed service providers who understand the digital landscape and all of the emerging technologies provides you with peace of mind that your IT is headed in the right (and safest) direction. From having the right tools in place to expanding your network, IT Consultants do it all.

Conclusion

Digitally transforming your business has proven to have incredible benefits in all areas of your business. Having the ability to make better decisions based on digital solutions is a sure way forward to grow your business.

Our IT experts in Cairns and Townsville are here to ensure your business’s IT is well looked after. Our Managed IT Consultants offer services that put your business’s needs first and strive to empower, connect, and protect what matters most to you.

If you’re ready to transform your business, talk to one of our friendly team members today!