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5 Major Tech Challenges for SMBs

Today, most SMBs appreciate that digital transformation is a necessary evil if they hope to remain competitive and profitable in future markets. According to a recent survey, 64% of Australian businesses have a digital transformation project under way, and 9 out of 10 respondents consider digital transformation to be an ongoing initiative.

It’s now a race to keep up, as those organisations that have implemented digital transformation are already reaping benefits. The same survey found that the main benefits of of current or previous transformation projects were:

  • To improve operations through digital processes (67%);
  • To create a standardised, agile digital platform for the organisation (44%);
  • To gain a better understanding of customers (35%) and improve their experience through omnichannel (35%); and,
  • To bridge silos between business units (33%) and data channels (30%).

Understanding that digital transformation and implementing new technologies are crucial to a company’s survival, however, is one thing – enacting it within your organisation is another thing entirely.

If you’ve got digital transformation in your sights, but feel like you can’t pull the trigger, don’t worry – you’re not alone.

Here are 5 of the biggest challenges SMBs face when trying to implement new technologies, and how you can overcome them.

1. When the number of IT options continues to grow, it becomes increasingly more difficult to have the range and depth of expertise needed to select, maintain and optimize the right IT solutions.

With a large and growing range of options available, you need the right tools and guidance to make the best IT decisions for your organization. It’s becoming more and more difficult to stay ahead of the innovation curve and make informed decisions. And managing infrastructure complexity is becoming more and more difficult. This is especially true for smaller organizations that have either a one-person or small IT team.

2. The “end of life” issue for hardware and software can introduce a series of costs, compliance and security risks to an organization.

End of life, when a product is no longer supported by its manufacturer, is a fact of life for all IT systems. But if not planned for properly, it can put a significant strain on budgets, time and effort. In addition, end of life can put an entire organization at serious risk. With last July’s end of support for Windows Server 2003, for example, organizations that had not migrated away from the platform by the deadline were exposed to security threats and regulatory mandates that were no longer addressed with patches and updates.

3. IT budgets and staffing levels aren’t increasing, but the workload is.

Information technology is resource-dependent in terms of requiring time, people, equipment and funding. It takes all of these resources to effectively and efficiently manage systems, maintain compliance, respond to problems, providing end-user support and complete IT-related projects. For any given organization, the range of business applications continues to grow not shrink. And this puts more and more pressure on IT people and systems to deliver the latest and greatest. But if an organization is working with older IT equipment, it may not have the flexibility or horsepower to deliver new capabilities— which means delivering new functionality many require an IT upgrade. Moreover, managing this range of tasks effectively requires a team of IT professionals that are often outside the financial means of smaller organizations.

There are more challenges you may face and number of challenges are increasing everyday. What about solution? While many small and medium business owners are struggling where to start, what to do, how to do, whom to trust, others already started this journey. Truth to be told, this is a journey and it never ends but it is hard and expensive as you think when you find a trusted partner who really cares your business (It is hard to believe but there are trusted partners like this in the world). The trusted partner's responsibility is to find a best solution/s for your business and give you a road map, walk with you on your journey.

4. Security attacks are risking your business and your future unless you protect your IT system.

A business doesn’t need to be a Fortune 500 company to get targeted by cybercriminals. Not being serious about cybersecurity is reason enough. In fact, if you just glance through last year’s cyber threats statistics, you will discover that almost 50 percent of small businesses experienced a cyberattack. Moreover, nearly 60 percent of the SME victims closed their doors permanently in less than six months.

5. Data is the key object of any businesses and protecting it in a secure vault would be first priority

As an individual, we know that money is the key staying in life and we protecting it in a secure vault like banks. So, you need to threat your data same you do for your money. There is no %100 security in the world and no hardware vendor gives you %100 guarantee that server or storage doesn't have failure or no natural disaster will happen. Without an historical data backup strategy, no business will survive if any of those unwanted scenarios occur. Never ever forget that Backup strategy is your business insurance!

Is there any way to overcome those and other challenges?

There are many more challenges you may have and number of challenges are increasing everyday. So, is there any way to eliminate all those problems and to continue to your journey? Of course, yes! Truth to be told, this is a journey and it never ends. While many small and medium business owners are struggling what to do, how to start, whom to trust others already started this journey and some of challenges are no longer barrier for their business growth. Primarily, you need to trusted partner who really cares your business (It is hard to believe but there are trusted partners like this in the world). The trusted partner role is to find and implement best possible solution to your unique business, to provide a road map and walk with you on your walk. Technology, payments, maintaining are no longer issues.