A usual goal of many SMEs is to remain successful at a time when digital transformation is becoming the norm.
It’s a time of great uncertainty in industries across the board, including SMEs. They need to change as quickly as their competitors if they’re going to compete effectively in this new era of digital transformation. Digital tools like a Learning Management System (LMS) or Enterprise Resource Planning (ERP) can be the key tools that help SMEs adapt to a changing economy.
Digital transformation is no longer the next big thing, it is the current big thing. It’s THE way of doing business. It’s how you do business—how you interact with customers and employees, how they interact with each other, and how they perceive your company as an organization. If you want to stay successful in today’s environment where digital transformation is becoming the norm, then you need to be willing to change too. 😅
As digital transformation becomes more prominent, there is one key factor that puts SMEs in a difficult position.
As digital transformation becomes more prominent, there is one key factor that puts SMEs in a difficult position. The issue is that SMEs are not able to compete with bigger companies when it comes to resources and funding. They simply have no money to invest in their business, which means they can’t keep up with the latest trends or technological advancements. Without being able to offer the same level of customer service as larger companies, SMEs will struggle to remain relevant in today’s fast-paced world where everyone expects immediate responses and access.
SMEs are more likely than larger companies to be affected by digital transformation because they tend not to have the resources or expertise needed for it. They also often don’t have access to IT infrastructure and software development teams that could help them adapt quickly enough. In addition, many SMEs lack knowledge about how best to use new technologies like AI and ML (machine learning).
Small and medium enterprises can (and should) get involved with digital transformation too.
Digital transformation is happening in all industries, and it’s a key part of the Fourth Industrial Revolution. This means that SMEs have to do something about their own digital transformation.
Digital transformation can help SMEs stay competitive by helping them sell more products or services, as well as reduce costs and improve efficiency through automation and process improvements. If you’re already investing in digital technologies, then this might be an opportunity for your business to further increase revenue while improving customer experience (CX).
A Learning Management System (LMS) and Enterprise Resource Planning (ERP) can help SMEs see through the peak of the 4th Industrial Revolution
An ERP (Enterprise Resource Planning) is a software system that integrates business processes into one platform, allowing for better communication and collaboration between departments. It’s used to organize company data, automate business processes, and produce reports.
An LMS (Learning Management System) makes it easy for employees to access training materials while they’re on the go. The LMS allows users to share their learning with other users who have similar interests in the same area as them—for example: if you’re looking at how to improve your sales skills as an accountant at your organization then you would want all of your colleagues who are also accountants who could teach each other about this topic.
These tools allow companies not just to expand and optimize their operations, but also lay the foundations for an even more long-term and sustainable way of doing business. Removing redundancies and increasing resiliencies for the business and the humans working within it. For example: if you have a large number of employees working in the same area but they’re not communicating with each other and sharing information that could be useful to them all, then there’s a lot of redundancy happening. You can use these tools to connect everyone together so that they can share their learning with each other—for example: if one member of staff finds out about an effective way of doing something then they can share it with everyone else who is working on similar projects at the same time.
This helps to reduce the amount of time that your business spends on research and development, meaning you can focus on improving other aspects of your business.
Digital transformation can help refresh SMEs.
Digital transformation can help refresh SMEs. Digital transformation is not just for large companies, but it can also help small and medium-sized enterprises (SMEs) become more efficient, get ahead of the competition, and improve their customer experiences. In the same way that large companies can use digital transformation to improve their processes and business models, SMEs can use this same approach to stay competitive. In fact, many small businesses are already using digital tools in their operations—from social media marketing to e-commerce platforms. But digital transformation goes beyond simply using these tools. It’s about how companies use technology to transform the way they do business, from product development and customer service to marketing and sales.
Kickstarting digital transformation for SMEs in the PH
SMEs often struggle with the need to stay competitive in the digital age. While it may seem like there is no way to win at this game, it is possible for SMEs to transform in order to stay competitive. One way that many businesses are doing this is through effective collaboration between their IT staff and their learning management system.
By using these resources together, they can create more efficient processes while also gaining insight into how well they are performing against goals set forth by leadership figures within their firm. By combining these two systems, SMEs can create a better customer experience while also increasing their own efficiency. This allows them to stay competitive in today’s market and grow their business over time.
Happily, we offer ways to start these things without spending more than what you can. You can even get started for free with our Hooman Hug Program. Check it out! 🤗
