Marketing, customer service, HR, invoicing, providing your core goods and services—there’s no question running a successful SME means doing a lot despite a smaller pool of resources. From automation to AI, technology has promised to bridge the gaps—but it doesn’t always drive the desired results.
From operations to finances, the vast majority of SMEs say technology is “very important” or “somewhat important” to all their business functions, according to a recent survey by SMB Group. But smaller businesses also report significant hurdles seeing results from their digital initiatives.
What’s holding SMEs back from realizing the cost savings, productivity and efficiency gains, data-based business insights and other improvements they expect to drive from technology investments?
Here are the top four tech challenges SMEs face—and the fix for each.
Difficulty figuring out which solutions are best
Invoicing, customer relationship management, collaboration—there’s literally an app for everything now. There are also countless solutions and vendors to choose from, making finding the best choice for your organization an overwhelming prospect.
The fix: Every small business is unique and finding the best tools starts with understanding your own needs. How many people will be using the solution? Do they work onsite or remotely? What are you trying to achieve? Do you have compliance requirements? Start your search by looking within. A detailed needs assessment will pinpoint exactly what you need and help to narrow down the options to find the best fit for your business.
Difficulty integrating new systems
Many apps and solutions promise a seamless user experience—where you don’t have to be a tech whiz to easily access and hand off tasks and data or to work across platforms. Sounds great in theory, but too many organizations don’t realize the time savings and other anticipated benefits because their solutions don’t work as well together as anticipated. Even worse, disjointed technologies can create data silos and business blind spots.
The fix: Platforms and solutions don’t exist in a vacuum. As you consider any given solution, it’s important to look at how it fits with your existing tools and its role within your overarching tech strategy. In evaluating the options, look for integrations and cross-compatibilities with your other tech tools—and don’t forget to consider the ease of connecting your various solutions.
Concerns about data and privacy
While you might think they have bigger fish to fry, smaller businesses are big targets for cyberthieves. According to research, nearly half of scams target SMEs. And whether malicious or accidental, breaches can be particularly impactful for smaller orgs, including lost revenues and reputational damage.
The fix: A disjointed approach to technology can create inadvertent gaps. Thinking holistically about your solutions and internal practices—for example, sharing user accounts and passwords—can help you identify and address vulnerabilities.
Lack of IT staff/skills
If it’s not your main business focus, the work and complexity of managing your technology can feel like more of a burden than a benefit.
The fix: When you’re small but mighty, you probably don’t have headcount to spare. But technology expertise doesn’t have to be a full-time investment. Look for scalable, on-demand advisors and solutions that can address whatever challenges you’re facing with right-sized expertise and pricing.
Driving big benefits for SMEs
Running a successful SME is all about driving maximum impact from your investments—and technology is no exception. Employing a holistic, strategic view can help your business overcome these common challenges and pinpoint the solutions that can truly deliver for your organization.
What’s your biggest tech challenge? Click here for a free 45-minute technology assessment from PinnacleCIO
Michael Gladstone is the Principal of PinnacleCIO. PinnacleCIO helps small & medium enterprises solve business problems by leveraging technology.
