How Small and Midsize Businesses Can Prepare For the New Economy
SMBs have certain advantages over their larger rivals. They can forge close bonds with customers and employees, adapt readily to subtle shifts in market sentiment, develop innovative services and products at speed, and modify their business models to avoid disruption.
But the current economic environment now threatens the success—and perhaps even the survival—of many small and midsize organizations. Transforming operations around new technologies and human experiences will be critical to resilience and growth in the years ahead.
This report is based on global research conducted by Oxford Economics on the priorities, challenges, strategies, and digital progress of 2,000 small and midsize companies. When it comes to digital technologies’ effect on business goals:
- 45% expect them to increase process efficiency by reducing error, risk and cost
- 43% expect them to increase productivity through transformation and intelligent process automation
- 40% expect them to allow employees to focus on higher-level business tasks
Discover how to increase your company's resilience to steer through disruptions and take advantage of new opportunities. Download the report to see the full survey findings.
