Small businesses need to switch into a digital mindset

The world is in a race to digitise — and every other business is seeking to improve processes and reach out to more customers. Tech innovation has become increasingly competitive, particularly from an internet and connectivity perspective. And online businesses keep on mushrooming.

So how can businesses further leverage technology? Small businesses usually think that cloud-based tools, Web-based services and automation software are reserved only for big enterprises with the capability to spend more to advance their business. In fact, there are multiple technologies catering to SMEs that can easily be adopted for efficiency gains, access new customers, or to make new hires.

There are many such that these businesses can take advantage of to keep them ahead of the curve. The key is to be smart enough to identify which services are done best in-house and which could be done better by getting someone on-board. The needed technology is always at hand. Just a click and everything SMEs need can be found.

The interest of the young to develop new technologies to meet the needs of businesses are enormous. There is no reason why SMEs cannot take advantage of such opportunities, especially as costs have become more competitive.

To enumerate, SMEs can maximise productivity and drive operations more efficiently. It serves to provide the following:

• Creating an open communication environment. There are now digital software that makes it easy for small companies to set up online systems of communication and manage the performance of employees in an open system, allowing managers to evaluate results and keep records for future purposes. It makes for a targeted completion.

• Setting up of virtual teams. Creating an online portal for employees provides easier communication among various departments as well as promote transparency, which is essential to better productivity.

• Monitoring of business targets and tracking progress. An easily accessible key performance index helps the company clearly see the phase of progress and identify areas that need improvement.

To ensure a more efficient and productive business, SMEs no longer need to invest heavily in human resources. The many developments in technology can make business operations easier to manage and produce the desired outcomes. What is needed is a shift in mentality among SMEs to adopt digital transformation as the best way to move the business forward.

Nidal Abou Zaki is Managing Director, Orient Planet Group.