The digital economy helps level the playing field so SMEs can more effectively compete in markets that were previously inaccessible. In this Digital Economy, SME Leadership must recognise the changing economy and to leverage the power of technology to grow and sustain their business.
Faster and Smarter
To handle these market challenges, SMEs are finding ways to use technology to put prevailing business trends to work — to be faster, and smarter.
In the current business climate, success requires scale. To become scalable, you need to conquer complexity by focusing on simplicity. Any direction you go, it’s about being able to quickly take favorable behaviors and make them expand across your company — if you can’t scale, you can’t grow fast.
To compete effectively, SMEs often view advanced technology as an essential ingredient to their core business. These companies are poised to reinvent marketing, for example, for the new buyer journey, they understand the value of social media and that it is the backbone of an effective marketing approach. With easier and more economical access to solutions in the cloud, in-memory technology, and user-friendly analytics solutions, SMEs can obtain and act on valuable information, and thus better compete and grow.