Digital revolution has a huge impact on business processes. Big corporate entities had dominated the market for decades, but now small and medium size enterprises have a chance to overtake their lead with the introduction of advanced data-powered business models. The decision-making process is much more complex in big companies, which small businesses effectively use to win over consumers on the web market by applying top notch digital technologies. Of course, implementation of these digital solutions always comes with a few difficulties.
What Kinds of Problems you can Expect?
Recently IDC released a global study called: “Thriving in the Digital Economy: How small and midsize enterprises are adapting to digital transformation”. Most respondents pointed out three main concerns when it comes to digital transformation of their businesses:
- Digital market doesn’t recognize regular working hours. Most consumers browse the web and search for enticing offers in the evening, which means that company’s team needs to be always available to answer customer calls and deal with work-related issues.
- Social media is more transparent than any other form of business-consumer communication. This means that every mistake businesses make will be quickly visible online.
- Many global business owners also worry that complete reliance on data decision-making process will draw inappropriate conclusions.
Advantages for Small Businesses
Many companies have problems with choosing the right data system and equipping their tech department in general. Both large and small companies are currently moving their businesses to cloud servers. Although small businesses have much less to invest in these types of projects, their advantage lies in the lack of pre-existing IT investment. While big companies often need to upgrade their preexisting tech and in-house storage with new software, small businesses can start their digitalization process straight from the cloud environment and choose adequate software-as-a-service solutions. They can also outsource this process to an established digital agency that will digitalize their business strategy.
Important Characteristics of Cloud Services
While choosing these software solutions companies should focus on these key characteristics:
- Clarity– They need to choose services that are precisely answering their needs.
- Simplicity– Chosen solution should simplify company’s IT management.
- Security– It should also maintain the top level of security.
- Reliability– External service providers should guarantee the desired level of service.
- Sustainability-Companies should be able to easily move and transfer data if business circumstances change.
Important Segments of Digital Transformation
In order to make software-as-a-service shift easier, companies should give special attention to these 4 important segments of digital transformation:
- Basic data backup– Cloud storages enable companies to back up their data relatively easy. Most cloud based storages provide them with the protection of enterprise-grade data centers at much smaller cost. Companies should use this and make several backup storages that will help them to secure their business data.
- Comprehensive data protection– After all business data is backed up, IT departments should focus on protecting it, with advanced cyber security solutions. In order to protect themselves from the data breach, companies need to negotiate top security package with their cloud service provider. They should also create an in-house security policy. As part of it, every employee should go through security training and learn how to use business devices in a safe way.
- Scalable data storage– Stored data should be thoroughly analyzed. Companies will find out that their data stores a lot of useful information, which can help them to improve their business’ performance. For this reason, they need to store information in a scalable way and obtain (or negotiate with a service provider) advanced data analytics tools.
- Adaptive IT– In order to capitalize on disruptive trends, companies need to move quickly and implement their data-driven conclusions on their business model. This requires an adaptive IT scheme and specialized communication apps that increase employees’ productivity and responsiveness.
In recent years, the digital transformation has been impacting companies of all sizes. Small companies can use this opportunity to become more competitive, while big enterprises can take a proactive approach and try to out-compete their main rivals with the help of advanced data analytics and overtake their market share.