Our research indicates that modern small to midsize businesses (SMBs) use technology to drive their success. Whether improving financial management, streamlining inventory management and operations, protecting data, empowering employees, or connecting with customers, modern businesses share a few common characteristics:
1. Grow efficiently
They spot trends and act on them with greater efficiency to drive growth. These SMBs are moving to modern business technology to gain:
- Competitive advantage for early adopters – 57%
- Productivity improvements by automating operational transactions and creating general ledger transactions at the same time – 93%
- Time to work on more strategic issues instead of managing IT – 60%
2. Prepare for the unexpected
Modern SMBs safeguard their businesses by planning ahead with systems that reduce risk through online validation of transactions, audit controls, data protection, file back-up and disaster recovery.
3. Connect with customers
They gain competitive advantage from understanding their customers better and make meaningful connections to build long-term relationships.
- Percentage of customers taking their business elsewhere rather than work with a company with outdated technology – 90%
- Percentage of customers likely to become repeat customers of a business that uses modern technology – 62%
4. Drive employee productivity
Increasing productivity is the key driver of profits. Modern SMBs use cloud based business technology to enable an increasingly mobile workforce to do business virtually anywhere on any device.
Whether you need help replacing basic accounting software, protecting your data, or empowering your mobile workforce, Vivid Dynamics can help you. Microsoft Dynamics NAV is a proven business solution that fits perfectly with needs of SMBs and is hosted on Azure by Microsoft. It is easy to implement, easy to use and support your vision for the company. You don’t have to worry about servers, backup, or software updates anymore – instead you can focus on running our business.