European SMEs on the road to digital transformation

Economic recovery in Europe relies heavily on the health of more than 20 million SMEs, which represent 99 per cent of all businesses and are a key driver for growth, innovation, employment and social integration.

SME business leaders are increasingly aware of complex data management challenges. Issues such as the inability to access documents from a mobile device, unsuitable search functions, chaotic paper trails and fragmented information silos can hinder the sharing of information and prevent employees from obtaining the knowledge they need to move businesses forward. Ineffective processes such as these can lead to a loss of customers and, ultimately, revenue. According to research sponsored by Ricoh, 70 per cent of SMEs said that they could save between 5 and 20 per cent of their annual turnover by digitising historical documents.

To realise the true potential of the technology available to them, SME buisness leaders must adopt a retirement programme for some of the traditional ways of working that no longer fit into the company’s infrastructure or new technologies. When all platforms, tools and systems are fully integrated, they will be in a better position to optimise their internal processes and ensure that their technology and the people that use it are fully supported. SMEs should review these processes on a regular basis to ensure that they are at the forefront to capitalise on technology-led change, have an empowered workforce and succeed within an ever-changing European business landscape.

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