Technology Challenges Encountered by Small & Mid-Sized Business (1).pdf

TECHNOLOGY
CHALLENGES
ENCOUNTERED BY
SMALL & MID-SIZED
BUSINESS
SMB
By Smartinfologiks

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.
Introduction
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.

Benefits of Technology for Small Business
Owners
Operational Effectiveness
Enhanced Productivity with
Automation
Be Future-Ready
Improved Storage Solutions
with Data Security
Improved Customer
Experiences
Economical & Optimization
Digital Transformation

Specific challenges small business encounter across
their technology journey.
Handpicking the Right Software
1.
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 it’s 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.

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: It’s 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.

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.

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.

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 company’s
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.

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 that’s 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.

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.

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.

9. Cost Consciousness and Concerns
SMBs usually end up spending on technology that reap minimal to no benefits.
Hence, it’s wise to ensure that the technology you’re 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.

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.

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. & that’s why we have
support & platforms like Smartinfologiks enabling transitioning to technology for
SMBs expeditious, unadorned, & smarter.
Smartinfologiks 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. We’re known for
delivering the best tech consulting service in India.

Thank You
sales01@smartinfologiks.com
+91 7400064691
www.smartinfologiks.com

Technology Challenges Encountered by Small & Mid-Sized Business (1).pdf

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