Small and midsize enterprises (SMEs) that have embraced digital technology show faster growth than companies that have not. The findings come from a new study released this week by SAP that analysed data from 3,210 respondents in 11 countries who work at a company with between 10 and 999 employees. The study, conducted by IT research firm IDC, indicates strongly that SMEs around the world understand and benefit from the value of analytics, collaborative and customer relationship management (CRM) software to help them run simple and compete with larger enterprises.
The study’s most significant findings about the adoption rate and benefits SMEs are experiencing from digital technologies include:
- More than 39 percent of SMEs in all regions agree that “active participation in the digital economy will be essential to our company’s survival in the next three to five years.”
- SMEs that grew revenue 10 percent or more in the last year say they are “well under way in applying technology to connect people, devices and businesses.” This represents more than one third of all SMEs, and more than 45 percent of SMEs with between 500 and 999 employees in the survey.
- At least 50.6 percent of SMEs across all regions surveyed use collaborative software as a result of their digital transformation, making the technology the most used by SMEs. CRM and business analytics software were the next most used by SMEs, with at least 38 percent and 37 percent of SMEs in every region using the respective technologies.
Click the following link to read the study in full – Thriving In The Digital Economy.
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