As we, as a society, take great steps forward into the digital age, we are seeing an uptake across practically all sectors right around the world in the use of technology. Of course, this shift has also been noted in the SMB community, an important transformation that has dominated the more recent evolution of small businesses. Meaning that whilst the news may be replete with stories of brick and mortar stores closing their doors, it has opened a number of fruitful of profitable windows. With small businesses now able to sell through the likes of Etsy, Amazon and Shopify – platforms that almost eradicate overheads, SMBs are not closing, they are transforming. A metamorphosis helped along by the introduction of cloud based software to the SMB market.
In fact, according to a study carried out by the Modern Commerce Monitor (MCM), SMB cloud adoption is currently at 55% and is expected to rise to 75% in the next two years. A statistic that is utterly unsurprising given the advantages that cloud software offers to SMBs, helping them to:
- Crunch complex and sizable pools of data that previously would have only been the purview of far bigger and more established businesses.
- Create a far more flexible and accommodating work culture with the ability to access key documents from anywhere in the world.
- Access a cost-effective and efficient way of backing up every document, should any of their hardware go down.
- Spend more time with the consumer: According to MCM data, 53% of cloud users are able to spend more time with their consumers thanks to the use of cloud software.
- Save money: It would seem that a whopping 46% of businesses claim that shifting to the cloud has saved them money
- Increase consumer satisfaction: SMBs are 45% more likely to retain their current customers.
Undoubtedly, there are clear and attractive advantages to using cloud software and, currently, it is going a long way in helping to make SMBs more profitable and competitive. Happily, according to data carried out by Mono, more than half of respondents rated the performance as “better than expected” or “slightly better than expected.” A huge win for cloud based software and a cultural shift in the right direction.
However, with that there is still a long way to go, for one crucial reason. Namely, that 62% of small businesses fail to use the software to its maximum potential. A sign that not only are SMBs not being fully serviced and catered to, but also meaning a number of providers are seeing high levels of churn and unable to retain their clients.
Unquestionably, the reason for this is that the owners of these products are simply unable to get to grips with the software, shockingly 76% maintained that they required, “a simpler product,” as too many features made it unusable.
Clearly, SMB providers have created products that are simply too complex and complicated for the needs of the average SMB. Across the SMB market there seems to be a call for more simplified products, clearer expectations and far better initial training.
Which is precisely what, we, at Camilyo have been doing – creating an empowerment suite that is simpler, slicker and of far more benefit to the SMB. A platform that simplifies the entire system with an action driven dashboard, a conversation inbox and an easy to use business calendar. A way for SMBs to easily and simply manage their affairs. Offering them a platform that “works for them” rather than them working for it.
Small businesses are evolving and quickly. No longer bricks and mortar- they are instead sitting online, in the cloud and servicing their clients from every part of the world, and yet 76% of them are currently unhappy with their cloud software. Read below for our take on the current SMB climate and how we can look to improve the scene.
Cloud software is rapidly transforming the small business scene:
- Cloud adoption is currently at 55% and expected to rise to 75% over the next two years
- 53% of SMB owners are able to spend more time with their clients thank to the introduction of cloud software.
- 43% of businesses believe shifting to the cloud has saved them money
- Increase client retention by 45%
However, whilst change is happening, it’s being weighed down by the 62% of SMB owners who find cloud software overly complicated to navigate.
A problem that affects not only SMBs but their suppliers, it is a huge problem that at Camilyo we are determined to solve with the introduction of our Empowerment Suite, offering a more:
A solution for SMBs that works for them, so they don’t have to work for it.