Fundamental Tech Improvements for SME Development

February 15, 2023

By Brady Baker, BackFromBurnout.Net

Guest Columnist

You may be wondering why you should even bother reading about this topic. After all, your small or mid-sized business is running just fine, thank you very much. But what if you could make it even better? What if there were some simple changes you could make – using digital technology – that would spur innovation and growth in your company? 


Well, we understand how you feel. It can seem daunting, even impossible, to make changes when you’re already so busy. But believe it or not, making just a few simple tweaks can make a big difference in your business. And luckily for you, using digital technology is one of the easiest and most efficient ways to do it. This Seismic Capital guide can help you get started!


1. How Can Cloud Computing Help SMEs Grow and Innovate?


Cloud computing has become an indispensable tool for small and medium enterprises (SMEs) looking to remain competitive in today’s digital economy. This technology allows businesses to access and share data and applications over the Internet, making it more convenient and cost-effective than traditional on-premise solutions. Here are a few of the many ways cloud computing can benefit SMEs:


Increased Flexibility and Scalability

Cloud-based solutions are highly scalable, meaning that businesses can easily add or remove users as needed. This increased flexibility can help businesses respond quickly to changes in demand without having to make significant upfront investments.


Improved Collaboration and Communication

Cloud-based solutions make it easier for employees to collaborate and communicate with each other, regardless of location. This can help boost productivity and creativity, as well as improve customer service.


Enhanced Security

With data and applications stored in the cloud, businesses can benefit from improved security. Cloud service providers typically have robust security measures in place to protect customer data, making it safer than storing it on-premise.


Lower Costs

One of the biggest advantages of cloud computing is that it can help businesses save money. Cloud-based solutions are typically more affordable than on-premise solutions, and they can also help businesses reduce their energy consumption.


2. What Are the Benefits of BPM for SMEs?


Business process management (BPM) is a term that covers a lot of different software and processes. But, in short, BPM is a way to optimize your business processes so they run more smoothly and efficiently.


There are many benefits of BPM for SMEs. Perhaps the most obvious benefit is that BPM can help you save time and money. By managing business processes with BPM, you can eliminate wasted time and resources, which will reduce your operating costs.


BPM can also help you improve your customer service. By automating repetitive and time-consuming tasks, you can free up your staff to provide a better customer experience. In addition, BPM can help you improve your communication with customers and partners by providing real-time visibility into your process status and performance.


3. How Can IT Services Help SMEs Grow and Innovate?


SMEs often lack the manpower and expertise to manage their IT needs internally. By hiring a managed IT service, you can outsource these responsibilities and focus on what you’re good at. Responsibilities you can outsource include but are not limited to:


  • IT support
  • Cybersecurity
  • Wiring and wireless networks
  • Cloud hosting and migration
  • Marketing services


Speaking of marketing services, if you want to do some of that yourself, a great place to start is by creating an infographic using this free tool to make use of time-tested templates. Once you have your new infographic, you can easily share it via social media platforms like Instagram, Twitter, and Facebook to help spread the word.


4. Is an Invoice Generator Worth the Investment?


If you run a small business, you know how important it is to keep track of your finances. An invoice generator can help you save time and money by automating the invoicing process. With an invoice generator, you can create professional-looking invoices in minutes. You can also customize your invoices to include your company logo and branding. Moreover, most invoice generators allow you to accept payments online, saving time and money on processing payments.


5. How Can Artificial Intelligence and Machine Learning Benefit SMEs?


Artificial intelligence (AI) and machine learning (ML) yield many advantages to SMEs. Here are some of the most common benefits.


Automating Repetitive Tasks

The most obvious benefit of implementing AI and ML is that they automate tasks that were once laborious and menial. And you can use these cutting-edge technologies for countless types of tasks and projects, freeing up leaders and employees to focus on more important work.


Customer Service

Many SMEs use AI and ML to automate customer service. This can include things such as automatically responding to customer inquiries, routing customers to the correct department, and even providing customer support. Businesses can dramatically improve their customer service by automating these tasks while allowing employees to focus on more complex ones.


Data Analysis

Another common application of AI and ML in SMBs is data analysis. AI and ML can be used to automatically identify trends and patterns in data, helping businesses make better decisions about their products and services. Additionally, AI and ML can be used to predict future outcomes, allowing businesses to prepare for potential problems before they happen.


Overall, AI and ML offer a wide range of benefits to SMBs. These technologies automate tedious and time-consuming tasks, improving efficiency and productivity. They also help businesses make better decisions based on data analysis, and they allow businesses to prepare for the future.


6. How Can Mobile Apps Spur SME Innovation and Growth?


The proliferation of smartphones and mobile apps has changed how we communicate, consume content, and conduct business. And yet, many SMEs have been slow to adopt mobile technologies, instead relying on traditional methods like print advertising, phone calls, and face-to-face meetings to reach their target audiences.


However, there are many ways that your SME can use mobile apps to spur innovation and growth. For example, mobile apps can be used to improve customer service, increase sales, and develop new marketing strategies. Additionally, mobile apps can help your SME streamline its operations, reducing costs and increasing efficiency.


7. What Are the Benefits of Working Remotely for Employees?


The traditional workplace is changing, and more and more businesses are allowing their employees to work remotely. There are many benefits of working remotely for employees, including increased flexibility, improved work-life balance, and the ability to work from anywhere in the world.


Remote work also has several advantages for businesses, including reduced overhead costs, increased productivity, and the ability to attract top talent from around the globe. Before allowing your employees to work remotely, though, you should handle a few things first:


  • Establish a clear remote work policy that outlines employee expectations (e.g., working hours, communication protocols, accountability measures).
  • Invest in the right tools and technologies to support a remote workforce. These tools can include video conferencing software, project management platforms, and cloud-based storage solutions.
  • These days, you really need to make sure you have someone on hand who is familiar with coding; if necessary, you can click here to learn more.
  • Ensure that your employees have the resources they need to be successful in their roles. This includes providing them with adequate training and support.


Wrapping Up


SMEs of all industries can benefit significantly from implementing invoice generators, AI and ML, mobile apps, and other digital tools. These technologies automate tasks, help with data analysis, and prepare businesses for the future. Additionally, they allow businesses to focus on their strengths and outsource responsibilities that are not their core competencies. If you’ve been considering digital transformation, today is the day. You might be surprised how quickly you start seeing results and growth!


Seismic Capital is an early-stage growth investor committed to identifying, guiding, and nurturing companies seeking to meaningfully disrupt the space they work in. Call 424-512-2200.