In a digital age where economic and political disruption causes uncertainty. When business and accountants face and overcome financial crises, rising prices and slow growth. To then heighten this with the impending exit from the EU. It’s no wonder that there is uncertainty, especially when it is not known what the terms of Brexit will exactly be.
Amongst all this, technology is finding a way to change the way in which businesses operate and prepare for the challenges they may face. Thus, technology has provided a feasible solution that has enabled businesses to go towards the future with agility and flexibility. However, the right technology is needed to enable an SME to fully profit from technology. As well as a number of factors to consider.
- Modular Solutions
A cost-effective method is to only purchase the features that you need. Rather than purchase multiple functions as a pre-packaged bundle. Thus allowing an SME to tailor technology to their business operations.
- Flexible Ownership
An SME has a choice of buying the software outright or paying a monthly fee to use it. This is as well as having the choice to have on-premises installation or use the cloud. This ensures that a SMEs wider business objectives match up with the right technology approach for them.
- Open Architecture
Something that equates to increased efficiency and profitability is adding features in response to how the business grows.
- Operational Flexibility
A great way to ensure that all functions are coordinated and successful is by leveraging solutions that not only handle common business features but take care of other areas too.
By implementing the factors shown above, an SME can get one step ahead of its competition and take advantage of being in the digital age.