Small and midsize companies are starting to follow what their larger counterparts are doing in terms of digital transformation, according to a new SMB digital transformation report sponsored by CenturyLink and conducted by Spiceworks.
More than half (53%) of IT decision makers at firms with 11 to 500 employees are currently planning their digital transformations, according to the report, with the top drivers being improving efficiency and productivity (60%), reducing costs and modernizing systems (39%), increasing accuracy and reducing human errors (37%) and increasing revenues and enhancing the customer experience (30%).
Additionally, according to researchers, three-quarters of respondents were also positive about their digital transformation efforts, saying they were “enthusiastic” and “excited.”
“Midsized businesses are increasingly adopting a digital business model, but still face challenges,” said Vernon Irvin, president, government, education, medium and small business, CenturyLink, in a prepared statement. “With limited resources and budgets, midsized businesses are looking for networking solutions providers to deliver a reliable infrastructure capable of supporting the evolving technology landscape, as well as solutions that can help save time and money.”
SMB Digital Transformation Report
The survey found the following were the top digital transformation priorities for small and midsize companies:
- Backup and disaster recovery, 55%
- Retiring and upgrading legacy systems, 50%
- Workflow automation, 50%
However, survey respondents also noted that there were challenges to pursuing digital transformation, including:
- Budget, 58%
- Limited time and staff, 57%
- Competing IT priorities, 35%
- Resistance from end-users and internal business decision makers, 34%
- Limited skill and expertise, 31%
Additionally, six-in-10 IT professionals said they worked with departments like marketing, sales and finance in their digital transformation initiatives to ensure that as new technologies are deployed, those groups have a say in how business process changes are designed and implemented.