Technology Challenges Encountered by Small & Mid-Sized Business

1
TECHNOLOGY CHALLENGES ENCOUNTERED BY SMALL
MID-SIZED BUSINESS
SMB
By Smartinfologiks
2
Introduction
Market fluctuations, an increase in consumer
demands, and cut-throat competition with
marketing giants have been never-ending
challenges for small and mid-sized businesses.
The outbreak of the pandemic did wreck the
backbone of Small Mid-Sized Business and with
the economy trying to recover, SMBs are likely to
witness upcoming oddities.
With inflation witnessing a rise in February 2022
by 2.47 percent, it has turned out to be a major
challenge for SMBs in recent quarters. Small
businesses need to tighten up their seat belts to
change the game by offering exceptional customer
services, enhanced customer relations, and
ensuring operational efficiencies.
3
Benefits of Technology for Small Business Owners
Operational Effectiveness
Improved Customer Experiences
Enhanced Productivity with Automation
Improved Storage Solutions with Data Security
Be Future-Ready
Economical Optimization
Digital Transformation
4
Specific challenges small business encounter
across their technology journey.

• Handpicking the Right Software

Choosing the right technology solution among the
hordes of vendors marketing approximately the
same features itself is a big challenge. Small
businesses are a victim owing to the deficiency
of apt information they receive from the software
vendors. Additionally, the present competitive
market might lead to adopting different tools as
its difficult to discover everything you need in
one single platform.
Overcoming the Challenge SMBs need to analyze
their technology requirements and pick the right
technology opportunities. Adjusting to
technologies to stand out in the crowd can cause
huge losses, specifically if your organization is
all-new to the digital transformation journey.
5
2. New technology Intrications
Adopting the right technology tools is
time-consuming. Hence, SMBs with minimal
resources, less time, a lot to achieve dither
to employ novel technologies. While the infusion
of the right technology can blend your routine
tasks making them more impactful less
time-consuming. However, a technology that
increases the complexity of your workflow cannot
be the right one.
Overcoming the Challenge Its wise to invest in
technology that is user-friendly, easily
navigable, can be set up quickly get started,
closely complies with your workflow. The initial
days can be daunting as adapting to new
technology is not an overnight task.
6
3. Easily Accessible
Small businesses are often reluctant to adopt new
technology due to the inadequacy of
accessibility. On-premise tools software often
limit the benefits usability. Particularly for
SMBs that want their business to be up running
from anywhere might lose interest in a platform
that restrains feature accessibilities.
Overcoming the Challenge Appropriate software
solution in India for small businesses must
provide secured data access, productive tools,
dashboards, performance metrics, etc. A platform
that delivers easy tracking, swift
decision-making, centralized IT management
services from anywhere refers to an ideal
technology solution for small businesses. Also,
mobile support accessibility will be the cherry
on the piece of cake.
7
4. Sustaining with Updates Integrations
Some certain monthly upgrades and integrations
need maintenance or it might hamper the
efficiency of the tool. Subscription expiry,
tracking the updates, and integrations of the
tools can lead to a new task, challenging the
workflow and business efficiency.
Overcoming the Challenge A comprehensive
solution that enables the integration of various
functionalities into a common platform will the
best solution to avoid downtime. This will
promote better brand visibility and help you
manage your upgrades and integrations.
8
5. Information Security
IT security is the most at present. Ransomeware
attacks were nearly 150 percent in 2020
developed even more in 2021. Ensuring the safety
of a companys financial data, IP data, customer
information, confidential data, etc, can be
challenging, particularly when adapting to new
technology or while using multiple apps. The fear
of security breaches limits small businesses from
deploying novel technologies. Besides, secured
data storage is also a major cause of concern.
Overcoming the Challenge Deploying technology
solutions recognized to deliver efficient data
security can help you manage the challenge. Cloud
technology is considered to be the most effective
information security data storage.
9
6. Adapting to Changing Work Culture
Changing work culture and trends are an add-on to
the technological challenge for small businesses.
A sudden shift to remote work culture has shown a
significant rise in the adoption of new
technology. Hence, SMBs must select the right
platform.
Overcoming the challenge Regardless of the work
culture- remote, hybrid, or full-time office
work, work effectiveness, productivity, and
performance thats counted. A technology
promoting efficient collaboration, immediate
communication, secured access to data and tools,
business transparency, and centralized IT
management is what matters the most.
10
7. Strains in Integration of Existing Systems
Companies empowering outdated systems may often
find it difficult to adapt new technologies as it
might require an entire ecosystem upgrade, losing
unnecessary time, money, and resources throughout
the process. While switching to new technology
and tools may affect the smooth functioning of
shareholders and vendors.
Overcoming the Challenge If your firm is new to
digitization, then picking a platform that
measures with time is highly applauded. A
technology enabling effortless third-party and
custom integrations will be fruitful in the long
run.
11
8. Offering a Unified UI
Employees operating from different geographic
locations today have made engagement more
challenging at the same time staying motivated
on the same page is also difficult. Accessibility
complaints, improper credentials, or server
errors can be a downfall.
Overcoming the Challenge Cloud technology can
avail easy secured access to tools,
applications, data, files, etc, from anywhere.
One can even permit temporary access to vendors
clients for smooth functioning unlimited
operations. Such cloud proficiencies enable
custom dashboards, employee engagement,
upgradations, motivation, advanced
communication from anywhere.
12
9. Cost Consciousness and Concerns
SMBs usually end up spending on technology that
reap minimal to no benefits. Hence, its wise to
ensure that the technology youre investing in is
cent percent efficient for your brand.
Overcoming the Challenge Capitalize on an ERP
platform that enables centralized IT management.
When you possess all your data storage, IT
assets, and even employee and client management
performed from a single platform through a single
point of login can help you acquire greater
visibility and help manage your operational costs.
13
10. Access to the Right Advisory
Most small businesses lack an expert IT council
and advisory panel within their workplace due to
overheads. Hence, for small businesses acquiring
the right IT advisory partner and consulting
partner is an overlooked option for the fear of
augmented budgets.
Overcoming the Challenge A technology partner
will always be an asset for small or big
businesses. If the cost is the concern, then you
should rely on tech support or a tech partner who
can help you with the implementation and
conversion.
14
Conclusion
In emerging markets, competition will be tough!
For small businesses to sustain prosper, your
business should invest in the right technology
today! If strategize properly, it will be the
best leap a business will ever take. thats why
we have support platforms like Smartinfologiks
enabling transitioning to technology for SMBs
expeditious, unadorned, smarter. Smartinfologik
s is a complete digital workplace allowing
businesses of any size domain to deploy the
emerging proficiencies of the ERP cloud that is
competitive future-ready. Besides, seamless
communications, efficient collaboration,
transparency, data security, centralized
management, etc, Smartinfologiks build a safe
secure environment for remote, hybrid, office
work culture. Were known for delivering the best
tech consulting service in India.
15
Thank You
sales01_at_smartinfologiks.com
91 7400064691
www.smartinfologiks.com