The term digital transformation has been around for a while now and most small to mid-sized companies would be forgiven for thinking it was a process reserved for only large organisations. However, in most cases, this most certainly isn't the case.
Digging a little deeper into what possibilities digital transformation brings, it's possible to see that digitalising common processes can be achieved by anyone – it doesn't matter the size of the company. From replacing handwritten receipts to the use of cloud-based solutions in place of costly and large data-centres, it's now achievable with surprisingly little budget.
Small and midsized companies come in all different shapes and sizes: 150 employees focused on manufacturing activities with almost no use of cloud-based solutions or a remote-working business that needs to understand how diverse their supply chain is.
So regardless of being a big or small business, by making digital investments to embrace technology or to automate smaller processes that could shave time from workforce routines, a lot of concepts and factors need to be taken into consideration as more often than not, they can be the reason why digital transformation can go wrong.
Investing in digital transformation won’t fix problematic processes
Automating processes and creating digital solutions that will make laborious tasks easier and quicker is the dream, but a bad process won't become good by just automating it.
If the operation is breaking down somewhere, a process analysis exercise will be required to help understand where the problems lie, so they can begin to solve them. There may be some hard choices to make during this type of analysis, from rethinking how the business works to even creating new business models. Good processes though, will embrace good digital transformations.
It takes team work to make it work
The introduction of digitalisation and automation doesn't happen overnight and certainly not due to the efforts of a single person. To make it work, depending on the digital transformation being made, it will need the cooperation and collaboration of internal stakeholder and sometimes departments. The smaller the business, the easier it is to take these changes and adapt.
Some processes will require the efforts of employees, customers and even vendors to happen. It's not easy to change, and getting everyone on board will make the process easier and will help solve problems effectively when they appear.
Smaller companies may actually find it easier
If there's one advantage smaller companies have over larger and more established organisations, it's the ability to be more agile. Agility and the confidence to adopt new technology will help smaller companies become more competitive and will directly impact their growth and revenue, whereas it can take a larger organisation a substantial amount of time to change course.
When it comes to digitalising the sourcing, tendering and contracting for services, the Maistro platform brings benefits to small, mid-size and large organisations. A flexible solution that is big enough to handle strategic procurement, and simple enough to quickly and easily manage the smaller stuff. Get in touch today to find out how managing your tail spend is finally an achievable goal.
