TECH BUYER Jun 2019 - IDC Perspective - Doc # AP45211719

Future SMB: The Time to Digitalize Is Now

By: Celeste NarvaezSenior Program Manager, Daniel-Zoe JimenezAssociate Vice President, Digital Transformation (DX), Future Enterprise, and SMB

Abstract

Digitalization has mostly been an enterprise-centric theme for the past years, and many of these large organizations have made good progress. Even as enterprises understand the urgency, most SMBs are still in status quo — why is change necessary and what should be done? Many are not making any changes, especially when it comes to technology investments, as they are reactive and challenged by the lack of skills, budget, and impetus. However, a new breed of SMBs is emerging and setting the benchmark for what is possible to achieve.

"In 2019, the market has reached an inflection point that will force SMBs to act, and there are several factors driving this: the evolved state of digitalization of the SMB ecosystem, and the opportunity presented by digital technologies that allow SMBs to amplify their capabilities and become competitive. A new breed of SMBs is emerging and setting the benchmark for what is possible to achieve: Future SMBs. To be competitive, SMBs should evolve toward becoming Future SMBs: ecosystem- and technology-first organizations that can amplify their presence and capabilities to drive sustainable business growth, productivity, and competitiveness. These SMBs are data-driven, customer-centric, and highly automated, and take an experiment-learn-iterate approach to deliver breakthrough solutions and create new markets," says Daniel-Zoe Jimenez, associate vice president and head, Digital Transformation, Future Enterprise & SMB.

"It is important to remember that SMBs are the backbone of our region's economy. With the fast pace of digitalization impacting Asia/Pacific's GDP, these organizations, due to their size, possess the ability to adapt quickly, and they are poised to digitalize at a speed that can compete with their larger counterparts. Because of their entrepreneurial mindset, risk appetite, and drive to succeed, these SMBs must be empowered to embrace digitalization for them to evolve into Future SMBs and compete differently in the digital economy," says Celeste Narvaez, program manager, Digital Transformation.


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