Why Facilitating Digital Transformation for SMBs is a Win for Everyone
One of the major outcomes of the pandemic is the rapid acceleration of digital transformation, especially among small businesses. As a result of COVID-19, 72% of small businesses are accelerating digitization in order to be able to operate more remotely or to better engage with their customers.
Digitalization among the SMB community means access to digital tools and services, maximizing their use to propel the business forward. From cashless payments to online schedulers, auto-billing to email marketing, everything is being done digitally.
The tools available on the market are sufficient but are also spreading small business owners thin. In fact, a recent vcita survey found that 92.7% of respondents admitted to using anywhere between one and six different digital tools to run their business, outlining the need for one solution that can encompass all digital capabilities.
And there is much to gain all around with driving digital transformation for SMBs where not only the small businesses win. Facilitators offering the opportunity to transform digitally attain a great deal as well.
Small Businesses Win More than Just Digital Tools
Small businesses are striving to join the digital revolution by the masses bringing with it much good for businesses looking to keep up, survive and expand.
Offering Digital Services as a Competitive Advantage
By offering more digital services, such as online appointment scheduling, auto-billing, and easy to sign invoices, small business owners are able to better cater to their customers and improve their overall customer experience. Consumers are demanding more online services, especially since the start of the pandemic, when in-person meetings have taken the backseat to zoom meetings.
Becoming a facilitator for digital transformation among SMBs means organizations can expand their offering and diversify their revenue streams further
Having the ability to offer services and solutions digitally not only entices existing customers to stay, but also intrigues new leads to the business as it offers a competitive edge. Small businesses are now able to compete with bigger brands as they offer similar experiences.
Digitalization as a Way to Grow the Business
When seeking funding opportunities that will drive growth, it often happens that a small business won’t have the proper paperwork to navigate the funding seamlessly. Digitalization can help with that. Using a modern, digital tool that offers real-time financial analysis assists with not only obtaining funding, but also allows a small business to better understand their business’s financial health and make smarter decisions about their business.
By going digital, a small business can better record every transaction, expense, and other important factors to note in a simpler way. This tracking will help with reporting to the necessary authorities to obtain the funding in an easier and hassle free way.
Digitalization Bringing the Business Together
With so many options available, there is often a lot of noise surrounding the term “digital transformation”, leaving small business owners scratching their heads as they search for the best solution to suit their business. It is in their best interest to find a comprehensive but not overwhelming solution that addresses the day to day needs of SMBs in one place.
A tool like vcita can help small business owners consolidate their entire business into one, easy to use app where they can control and properly run their business from the same place. By doing this, small business owners are in a better position to make the best use of their time and automate their most time consuming tasks.
Offering Digital Tools to SMBs Helps Big Businesses Win, Too
Small businesses aren’t the only ones that directly benefit from digitalization of their business. By facilitating the digital journey, big businesses can gain a lot from their SMB clients.
Digitalization Means Diversifying Revenue Streams
Small business needs are constantly evolving and growing. Where once an email and a phone call were enough, today, there is almost no limit to the digital interactions SMB owners and their customers can have. Becoming a facilitator for digital transformation among SMBs means organizations can expand their offering and diversify their revenue streams further.
By either developing their own digital tools or partnering with an expert in the field such as vcita, organizations can begin to look at their revenue streams from different angles and enjoy recurring income rather than one time sales.
Facilitating Digitalization Increases Stickiness
Not only do big businesses, or partners to SMBs’ digital transformation, use digitalization to increase their bottom line, but they also reduce the churn from their clients. By offering a complete suite of digital tools they are embedding themselves into the daily lives of their SMB clients and becoming a full one-stop-shop for small businesses to carry out the most trivial to the most important of tasks.
Closing this loop of services they are already offering and those they attain from partnerships with leaders in the industry, sets them apart from their competitors and allows them to gain an advantage when it comes to offering a more holistic solution. This competitive edge causes their SMB clients to stick around longer and be more satisfied with the service they are receiving.
Supporting Digital Transformation Creates Long-Lasting Bonds with Clients
Another major win for organizations that drive and support digital transformation for SMBs is the long lasting relationships they create with their clients. By offering them the digital tools they need in order to bring their small business to the digital age, a partnership is cemented into the daily operations of these businesses.
For example, by offering a strong CRM that small businesses can use to elevate the way they manage their own clients, the interactions between the small business and their digitalization partner go from once in a while to daily. This increases the organization’s brand visibility as well as the trust between them and their SMB clients.
Digitalization Offers Wins All Around
The digital age is here and ignoring that fact would be a detrimental mistake to both big and small businesses alike. Driving digital adoption among SMBs is a great way to increase stickiness and grow organizations’ bottom line, while at the same time, helping SMBs compete in an ever changing landscape.