Organisations investing in cloud solutions and technology have huge potential to unlock. As SMEs embark on digital transformation, they are boosting their investment in IT products and services. According to a release by Accenture Applied Intelligence communication, SME spending on new technologies and related products and services is projected to climb more than 6% between 2020 and 2025.
Market dynamics and technological advances that continue to force SMEs to more organisational change, significantly impacting how their businesses engage with customers and employees, and drive innovation. Flexibility and ability to adapt to disruptive technological changes has allowed for a large part of the high growth in SMEs, due to agility, early adoption and speed to market.
Cloud technology is the main growth spend; it is expected to account for more than 53% of SMEs' total IT spend in 2025, an 11% increase from 2020. Fifty-four percent of SMEs expect their usage of software as a service in the public cloud to increase somewhat or significantly in the next year.
The growth of cloud services has opened new opportunities for IT service providers, including increased demand for cloud storage, data management services and new business models. As customers move rapidly on their path to digital transformation, opportunities are emerging. Opportunities to enable SMEs to grow per capita through the implementation of tools and solutions.
Telkom Business has embarked on a platform to enable these opportunities to allow SMEs now to have the simplicity of a B2B marketplace and accessibility to top tier software. As B2B marketplaces continue to grow, modern procurement has become easier when consumers are able to make purchases online, thus opening a pool of products and services for clients as well providing access to potential consumers.
Lunga Siyo, Head of Telkom SMB, mentions: “The organisation has since evolved, however, into a brand known as 'Yep'. It’s a marketplace business, in essence.
“We wanted to serve our customers using a digital marketplace rather than physical stores or via telephone, just to make it easier for businesses. We started by linking up small businesses with customers. Beyond creating an online store, we were creating an entire ecosystem of products and services that small businesses could buy from the platform itself, reveals Siyo in https://www.businesschief.eu/company/telkom-and-yep-transform-one-stop-platform-smbs
In one sense, cloud computing has allowed SMEs to do more with less. Cloud technology also lets SMEs access more sophisticated technology remotely so they can compete with more established industry rivals more readily. To succeed, especially as a smaller company, an SME must stand out from its competitors, and be provided with the tools to do just that.
For SMEs especially, thoughtfully applied cloud technology can mean the difference between failure and cutting-edge success. More and more SMEs are leveraging the use of managed IT services to support their transition to the cloud. Combined with the benefits of cloud computing, this combination allows SMEs to achieve the maximum potential in their productivity and savings. We’ve only seen the beginning of what cloud computing can help us accomplish or the innovation it can spark. And small and midsize businesses could not be happier about the opportunities cloud computing can bring.