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Innovation: Small Businesses that Adopt Digital are More Likely to Succeed
Small businesses that have adopted digital technologies are seeing improved growth and business success.
A study by IDC and commissioned by Sage, found the following:
- 56 percent of small businesses have adopted digital technologies, but the remaining businesses still work in traditional ways
- 57 percent of small business say that digital business models offer a significant opportunity
- More than half of SMBs say that they are ready to take on disruption that may result by adopting digital technologies
- A third of small businesses say that new digital technologies have enabled their businesses to innovate
- Only 8 percent of small businesses say that they are able to dedicate quality time on being innovation
Cathy Daum, senior vice president at SAP, said that digital innovation helps small companies “strengthen business networks, improve mobile worker enablement and help become a more agile organization by investing in areas such as cloud-based services. SMBs who want to maintain a competitive advantage need to build these innovations into their existing technology infrastructure to take full advantage of the digital economy and compete with larger businesses.”
