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Technology is quickly shaping how businesses around the world function and operate. This includes small and medium businesses (SMBs), who have their own needs and possible difficulties that need to be considered for their specific use case.
However, there are a lot of different things to go over for SMBs to make sure that you can balance everything, to be able to get the most benefit for your business. After all, hitting that sweet spot is vital, and failing to do so is a difficulty that many businesses face.
In this article, we’re going to go over everything that an SMB needs to know about Security, Innovation, and Cost. We’ll take a look at each key area, as well as possible challenges and other things to think about that might be relevant, while also providing a great solution in Managed Service Providers (MSPs).
Cybersecurity is incredibly important for any business, but SMBs need to be especially careful when it comes to any kind of cyber attack or breach. With 61% of SMBs having been the target of an attack in 2021, it’s vital to stay vigilant to make sure that you can respond to any threats swiftly.
This is especially important as, unlike a larger business, a SMB is often less equipped to deal with these threats without at least some kind of external assistance to help fortify their defenses. Smaller businesses often don’t have the ability to hire the personnel that they’d need to protect themselves, and so are a lucrative target for these attacks.
Artificial intelligence is the headline technology of this decade, and any business looking to be ahead of the curve needs to get to grips with it and take advantage of its sheer power to take innovation within their business to the maximum. With so many AI tools available and new ones being developed all the time, keeping updated on the latest cutting edge technology should be a priority.
AI can transform customer service through the use of chatbots, supercharge your marketing through AI powered analytics and insights, and even just help with operational efficiency and productivity throughout your company.
Data is one of the most important resources in the world, and knowing to take advantage of yours is vital to be able to succeed as a modern SMB. Being able to see trends and acting upon them fast, as well as taking advantage of analytic tools such as AI to be able to unlock its full potential will allow data to drive every decision you make.
The cloud is an essential part of the modern world, with cloud computing shaping the landscape of modern storage, virtualisation, and so much more. By taking advantage of the cloud, you can easily ensure that your business is flexible, efficient, agile, and secure, all while enabling new technologies that wouldn’t be functional without it.
Monotonous, boring tasks like data entry can be tedious and can pull people away from more important tasks, which is exactly what automation mitigates. Automation is a valuable tool to boost operational efficiency and productivity, as it lets you automate certain tasks or parts of a workflow. This means that things are done without error, at whichever interval you’d like, without needing to allocate human resources to take care of it.
With so much to balance, there can be a lot of challenge for SMBs to be able to create a suitable IT budget. But, in the modern world, it’s vital to have some kind of IT strategy in place, and so it can often feel like you’re stuck between a rock and a hard place.
Here are some of the main challenges you’ll face when budgeting for IT:
· Unexpected Expenses: Expenses that pop up out of nowhere, such as unexpected hardware failure. These are impossible to forecast, leading to financial strain.
· Limited Resources: SMBs have far less available resources to be able to invest in IT, but the skills shortage and popularity of IT has made hiring IT personnel more costly than ever.
· Scalability and Growth: Scaling is vital for an SMB, as you need to be able to accommodate growth as it comes, which is difficult when scaling isn’t accessible.
Managed Service Providers (MSP) like ourselves are the solution to this problem, as they eliminate the need to invest into IT resources internally and instead turn that into a smaller, running cost with all the benefits. Suddenly, instead of having unpredictable IT costs, you know how much you’re paying to your provider every month, which makes planning finances much easier.
On top of this, there’s no tradeoff when it comes to skill either. MSPs have teams of experts that will be able to help you whenever you need, and will ensure that all maintenance is done promptly and with minimal disruption. Plus, a MSP will be able to handle more tricky and technical aspects of IT, such as cybersecurity, without having to invest in a costly specialised expert.
MSPs enable scalability too, as you can simply just adjust your agreement with them to scale and match your needs easily, giving you an easy way to ensure that any growth can have the space and resources it needs.
For SMBs, it can be near impossible to balance IT needs and innovation, but with a MSP things become far easier to manage. You can take advantage of innovation without needing to constantly worry about your IT infrastructure, as you’ll know that someone has your back.
If you’re looking to take the next step, reach out to us today. We can assess your needs and help you figure out what’s best for you, while also helping you take your business to the next level.
Get in touch with us now and see how we can help.