What to Expect from 2022 for SME's Technology?
In 2021 Small and Medium Enterprises (SMEs) embraced technology like never before. The Australian spending on digital services (such as software and apps) almost doubled between 2009 to 2019, and reached new levels during the pandemic, with ICT expenditure up 13% in Australia between March 2020 and June 2021.
In 2022, technological change will maintain its importance as businesses find ways to strengthen their connection with employees and customers. With growing expectations and the pressure to make a profit in times of economic recovery, SMEs are likely to have a big year ahead. Below is a breakdown of how SME’s can leverage technology in 2022, and how you can benefit from the most relevant trends:
Increase employees' trust, wellbeing and and satisfaction
According to a SalesForce survey with over 2,500 SME’s, engaging customers and earning employees' trust is amongst the top priorities for business owners in 2022. To increase trust within your team, foster transparency and build an open channel to receive employees' feedback. Timely and transparent communication are among the top ways to earn your employees' trust and satisfaction.
Platforms such as Employment Hero can help you increase collaboration, scale your engagement initiatives, and keep the team strategically aligned. Besides automating and eliminating manual tasks, the platform also unlocks a range of benefits, reward and recognition options to boost your team’s engagement.
Staff’s satisfaction, health and well-being sit among the top priorities for SMEs as it directly influences talent attraction, retention and turnover. Platforms such as Awardco and Sprout offer a strong suite of solutions to help your team build healthy habits, improve their health and wellness.
Apps and platforms to drive deeper customer engagement
Driving engagement in 2022 will require an extra effort from SME’s looking to cut through the noise, acquire and retain customers. Customers' expectations are greater than ever before, and according to SalesForce, 90% of surveyed customers say how a company acts during a crisis demonstrates its trustworthiness.
Managers should focus on areas that are measurable, provide omnichannel customer experience, enhance communication and humanise the brand. Technology platforms and apps can strengthen the connection with your audience by improving contactless services, speed to respond to inquiries, creating learning centres, and sending targeted communications.
Solutions to accelerate and optimise online operations
Growing SMEs will continue to prioritise cloud-based applications, and increase the investment in Technology for strategic areas. For operations, their top motivators are increasing productivity, improving business agility, and strengthening data security. Moving strategic business functions to the cloud brings benefits such as:
Reducing the cost base, with integrated, flexible and automated platforms.
Creating a scalable foundation for growth.
Improving customer engagement and relationships through their preferred channels.
Personalising products, services and offerings. Featured platforms for marketing automation, customer service, payroll, time & attendance, inventory and custom integrations are on the rise and can bring a (much needed) boost in productivity for business owners.
Improve financial planning and propel growth in times of recovery
Businesses must understand their data and performance to prioritise products, segments and channels with the greatest returns. Also, visibility on margins and profitability are key to recovering and restoring cash to the business.
Businesses looking to leverage technology to optimise their financial planning, cashflow management and budgeting can consider some of the below examples: · Reporting and BI solutions such as Fathom and PowerBI. · Budgeting, Forecasting and Cashflow Management apps such as Float, Syft, Fluidly and Futrli.
Billing, Payables and Document management platforms such as Hubdoc, Lightyear, Dext, EzzyBills and Practice Ignition.
How Halkin Business Partners can help?
The halkin technology team can provide you with insights about what should be in your ecosystem, and how to integrate the best solutions to produce tangible results. Our specialists can leverage existing integrations from pools such as the Xero Marketplace and Shopify Apps, or build something customised using powerful tools such as API integrations and the Microsoft Power Platform.
Halkin can help with process mapping, configuration, implementation, training, and support - keeping you in the loop every step of the way.
The Halkin Technology team are ready to take your business to the next level; contact us to learn more.
