TECH SUPPLIER May 2021 - IDC Survey - Doc # AP47374821
IDC's 2020–2021 Digital SMB Pulse Survey: The Impact of the COVID-19 Pandemic on Asia/Pacific SMBs and Their Road to Recovery
Prior to the COVID-19 pandemic, many small and medium-sized businesses (SMBs) were aware of the importance of digitalization. However, the extent of their initiatives greatly varied, with some SMBs better equipped to take on the challenges posed by the pandemic. Because of the pandemic, over 90% of SMBs have increased their reliance on technologies. Adopting a digital-first strategy became the first course of action of SMBs, especially in reaching their customers.
IDC’s 2020 Digital SMB Pulse Survey was conducted in May 2020 to gain further insights on the state of digitalization of SMBs throughout the COVID-19 crisis. In 2020, Asia/Pacific SMBs were the most vulnerable, and many struggled to stay afloat during this difficult time. Digital technologies became the lifeblood of these smaller companies, and many were forced to quickly pivot and adapt for survival. SMBs’ perception of technologies has changed greatly from pre-pandemic views, and this survey captures their sentiments as they begin to realize the true impact of digitalization on their businesses.
This survey examines the key business and technology priorities that Asia/Pacific SMBs now have as a result of the COVID-19 pandemic. Challenges in achieving these priorities were also examined in this survey:
- Although top business priorities still include improving revenue growth, efficiency and productivity, and cost reduction, building resilience has emerged as one of the key areas SMBs need to work on in 2021 and beyond.
- Technology investments of SMBs now include solutions that will help bolster their online sales capabilities (digital products, digital payments, ecommerce, etc.) and support remote work and collaboration through the automation of core processes.