How Technology Gives Medium Sized Businesses an Advantage

By HR Resource Force In Business Process Management

Medium sized businesses are usually short of time, money and people. So, a key to success is  finding tools that provide a measurable return for all three. Finding the appropriate business process management technology utilized by large corporations, allows medium sized businesses to capitalize on efficient and automated processes and to better manage error prone tasks. This allows the medium businesses to grow in areas that directly impact customer acquisition and retention, as well as provide a foundation for using data to increase profitability.

Typical Ways

Medium Sized Businesses

Can Take Advantage of Technology

Expertise

We need experts as much, or more, than our larger competitors. There are often combined roles in areas such as Human Resources, Accounting, Benefits and Health/Safety. The broad knowledge of an internal team is useful for wearing multiple hats but the lack of specific skills can get us in trouble with auditors, regulators, ex employees and plaintiff attorneys. Corporate compliance can seem unattainable.

Technology that comes pre-configured with expert content and free access to the authors of that material are a great way for SMB owners to access policy templates, process maps, training programs, audit checklists and guidance that larger companies develop with in house expertise or a stable of expensive consultants on retainer.

However, there are areas of concern with content wrapped in technology. Be wary of a software company that also provides expertise as a content provider. With few exceptions it is difficult to be great at everything. Instead look to companies that partner with national subject matter experts. This will provide you with access to local knowledge and a great technology company who knows how to partner.

Another area of concern is with using an off the shelf “template”. Provided content will save time and money with your experts but should be taken the “final mile” by someone that knows your unique business.

In many areas the needs of a SMB are the same as larger organizations and technology with content partners can be a great way to access a full array of resources that are otherwise out of reach.

Efficiency

The “cloud” has enabled online task management providers to offer sophisticated software to the SMB in a way that was not previously feasible with expensive on site, installed products that required hardware, support and licenses from several providers. The cloud has made efficiency products accessible and affordable to any size business and the task management software supports the remote, fast pace environment in which modern businesses compete.

Traditionally employees gathered in one location to work and were easier to manage. Today’s cloud based infrastructure supports the flexible work schedules, remote employees, part time workers and the use of contractors common today. Modern tools support the collaboration needed among all stakeholders that would not be possible to perform in an efficiency or accurate method previously.

For the SMB owner, web based software supports greater productivity and accuracy. Repetitive tasks in areas such as Human Resource, Training and compliance paperwork can electronically be assigned directly to the employee and record-keeping, workflow and monitoring in real time can be managed with the software.

Efficiency is created by eliminating manual data entry into multiple systems and by replacing paper processes with electronic workflow. Modern systems also integrate well and break down silos of information and responsibility within a company. In the past these tools were only within the reach of large companies with big budgets to buy and support technology.

Adoption

Web based software technology has leveled the playing field for many small and medium sized businesses (SMB’s) facing competition with larger competitors, who have traditionally benefited from expensive tools and economies of both scope and scale.

In addition to the areas of Expertise and Efficiency technology is a great way to attract a new generation of employee who are used to being connected with constant communication.

Nick Goodell

About Nick: Nick’s career spans business development, risk management, operations, and executive management, giving him the in-depth knowledge to help businesses identify and overcome their challenges.