Digitization is the Key for SMEs to Survive and Thrive During COVID-19

The COVID-19 pandemic has changed the way society’s doing business. Businesses of all sizes are tested in terms of operations and finances as they adapt to new learning and working routines. One of the unfortunate changes that comes with the pandemic is the loss of jobs and the closing of businesses. As a result, many businesses are struggling to stay afloat and survive.
Small businesses, in particular, are vulnerable to the economic crisis. As the key pillars of the local economy, SMEs need to weather the effects of the pandemic. Initially, staying afloat during business closures and bankruptcies might seem impossible.


Fortunately, digital solutions are available. From video conferencing platforms for better meetings to software for better cross-functional leadership training and collaboration, technology can help small businesses thrive – even in the midst of challenging times.

Digitization for sme

Can Digital Solutions Promote Business Continuity?

Currently, businesses are brainstorming ways to provide the exchange of services and products without in-person interaction. Certain industries may have an easier time because they’ve already applied technology serving housebound customers, like Twitch bots for gamers, even before the pandemic.
The food industry is another good example. Small businesses are reinventing themselves and focusing more on online orders and deliveries. They know that to survive and thrive during the pandemic, they must easily adapt to the new requirements of their customers, as well as be willing to embrace technology to improve their operations.

Read also, The Cost of Running a Business from Home


To overcome the COVID-19 crisis, your business must be responsive and receptive. Fortunately, there are many technologies that can help you carry out normal operations, as well as improve your current business processes.

Go Digital


In the wake of the pandemic, digitalization is no longer just an indulgence; it’s a necessity. Should you decide to go digital, start with your website.
Your target market goes online to browse for products and services like yours. If you don’t have a business website, they can’t check or order any of your offers. Establish an attractive and functional company site where clients can get your products and services. Once you’ve made one, start promoting your business in search engines and social media platforms.
Apart from establishing a strong digital presence, digitalization should integrate technology into all aspects of your business. Think of it as a cultural change: your business should continually change, should be willing to experiment, and should not be fearful of failure.
Currently, you can find an extensive range of digital solutions that accelerate and support your business’s development.

Digitization for sme

The Implementation of Digital Applications

Many businesses have managed to operate during the pandemic by adopting new technology and physical distancing rules to keep the business running and their employees healthy. Currently, there is an increase in the usage of online services like digital IDs and digital signatures for purchases, form sign-ups and other processes. For many businesses, these apps do more than provide high-quality services; they can also help reduce in-branch visits, which reduce the likelihood of COVID-19 transmission.

Remote Work Monitoring

Businesses across the globe have shifted to a remote working model due to the COVID-19 outbreak. As a result, employers must use the right tools to monitor the progress of their employees. These monitoring tools are designed to provide you with insight on an employee’s accomplished tasks and production processes.
The focus of monitoring depends on the employer. Some consider time tracking as a critical measure whereas others prefer to focus on productivity. Nevertheless, monitoring software makes these data available for both employees and managers.

Technology to Adapt to the Lockdown

For businesses with manufacturing, lockdown measures can result in heavy losses. Factories with digitized processes are more prepared to deal with unprecedented crises and events. Since most people are at home, automated drones and guided vehicles move items around factory floors.
Some companies use fitting sensors to track their supply chain and enable production targets. Other technological additions to factories include Augmented reality (AR)-powered machines, which reduce the number of workers inside the factory.


Hyperconnectivity


Hyperconnectivity refers to multiple means of communication, such instant messaging, email, and telephone. It also facilitates the availability of information on any device, which can be easily shared among employees, suppliers, partners, and customers. With hyperconnectivity, your small business can become more agile since more people have instant access to your business’s platform.


Better Data Management


The volume of data has increased quicker than most companies’ ability to process it. Now that most people depend on the internet for products and services, the data will continue to grow in size. Technology helps businesses keep data indexed and organize with apps that process relevant information. These apps can also help analyze and study gathered data to enable businesses to make informed decisions.

These are challenging times; however, technology has made it possible for small businesses to minimize the impact of COVID-19. Many of these technologies are within your reach; you just have to learn more about them to use them the right way.

Leave a Reply

Your email address will not be published.