News: Small businesses urged to keep it simple, study warns
Start-up organisations that simplify processes are more likely to hit their growth targets faster, a new study has suggested.
Research conducted by Knowledge@Wharton, on behalf of SAP, found that 72% of small business owners said that business complexities had hindered growth opportunities in the past.
Although these same owners see the importance of leveraging technology, less than half (49%) say that business simplification is of significant strategic importance to their organisation.
Rodolpho Cardenuto, President, Global Partner Operations, SAP, outlined the importance of simplifying tasks at an early stage within SMEs to avoid problematic fragmented solutions.
“Business simplification is much more important to small and medium-sizes businesses than ever before,” he said.
“The interconnected global economy has opened opportunities to small businesses that never existed before, but they come with new challenges as well. If these businesses think and plan from the beginning on how to run simple in the long run, they will grow faster and perform better.”
The survey adds that by starting with secure solutions that allow organisations to streamline processes, they minimise risk or the disruption to services. Running simple was also identified as a being a key component for success in the digital economy.
In a separate survey conducted only by Milner Browne, more than three-quarters (67%) of respondents said that fragmented solutions were the biggest challenge to their business. Data duplication (33%) was identified as the second biggest challenge preventing growth within SMEs.
Looking to simplify business processes or avoid lost hours spent on data duplication? Get in touch with one of our experts to discover how Milner Browne’s solutions can reduce complexities and replace disparate software.