4 Technology Challenges Small and Medium-Sized Enterprises Face

19 August 2017

Small and medium-sized enterprises (SMEs) encounter many difficulties in pursuit of growth. Hiring the right people, building a strong culture, and maintaining profitability are difficult enough. When you add finding the right technology to support the business to the mix, you get a host of other hurdles to jump. Here are 4 technology challenges most SMEs face.

1. SMEs frequently outgrow their technology solutions.

Whether it's an in-house legacy system or a collection of tools strung together by manual processes, eventually the software that once suited your purposes won't be enough. Computer Weekly says that 90% of businesses are “held back from making digital advances by their reliance on legacy applications." As you grow your business, consider the opportunity cost of holding onto old, disconnected programs that no longer serve you, just for the sake of cutting cost.

2. Implementing new enterprise-wide technology requires experience or personnel most SMEs don't have.

If you're considering making a large technology transformation, your IT team may not be prepared or skilled enough to handle a change of this magnitude. It's nothing to be ashamed about because many teams of this size aren’t able to facilitate this change. Smart small-to-mid-sized businesses recognize this and partner with skilled professional services and technology solutions organizations to help them navigate complicated digital transformations.

3. SMEs struggle to operate efficiently due to redundant data or manual data collection processes.

The integrity of your data is everything. Good data provides insight on the operation of your business and helps you make the right decisions. Conversely, when your data is redundant, incomplete, or somehow misleading, it stunts your growth.

If you're experiencing data integrity issues, you must examine both your data collection processes and your software. Small Biz Daily says that if you’re still relying on entry-level software, “your tools might create as many difficulties as they eliminate."

4. SMEs don't have the proper tools for facilitating efficient collaboration with internal and external stakeholders.

Collaboration is key to a well-functioning business. Collaboration makes your teams operate more efficiently and it encourages innovation too. A study found that "97 percent of employees and executives agreed that the level of collaboration directly impacts the outcome of a task or project."

For a business to grow, it also needs good collaboration with its vendors, partners, and clients, requiring strong and efficient systems to support it. Organizations can't share insights inside or outside of the organization without the tools that support collaboration.

We understand these challenges and have the expertise to help you navigate them. Ready to take your company to the next level? Contact us today to take advantage of our SAP consulting and implementation services.