5 Powerful Tech Solutions For SMEs

From an invoice auction to cloud services, here’s how to enhance your SMEs WFH program (and productivity).

It’s fair to say the year has gone off the rails. So how can small and medium-sized enterprises (SMEs) try to outsmart and overcome the curveballs? With a combination of technology and adaptability. The former can feel hard to penetrate with so many options at your fingertips. To help you find your starting point or next step, we’ve compiled a list of tech solutions (that aren’t Zoom).

Start With Your Cash

Late payments are a critical business problem that has worsened with the pandemic. And while the issue is not exclusive to SMEs, these businesses often don’t have the financial reserves to fall back on. Auctioning off your accounts receivables is a quick workaround that takes the pressure off you and your cash flow. Not only does it give you fast cash (get the full breakdown here), but you decide when and how many invoices you sell. Here’s how to start. 

Prioritize Internal Communication 

If you have yet to use Slack as a verb or video conference without a time limit, consider stepping up your team’s digital toolkit. Not only can it solve the need for a unified platform, but the right tech can give your team a productivity boost. But what if you’ve been a Zoom devotee since isolation day one? It’s still worth having a backup option in case the app suddenly stops working—which inevitably happens at the worst time.

Stay Up And Running With Tech Support

The key to staying sane while going digital is simple: remote IT (Information Technology) support. It’s an investment many SMEs are hesitant to undertake, but you get way more than just a help desk. Cybersecurity, robust data storage, data backup and recovery, repairs, and better client experiences are just some of the benefits IT companies offer. Plus, many companies provide technology roadmaps to ensure you’re optimizing your tech today, during post-COVID recovery, and beyond. 

Opt For Online Data Storage 

As a result of the pandemic, many teams need the freedom to work from anywhere. Online data storage services (aka cloud services) have made that possible. What are the perks of forgoing in-house servers? For starters, your team can still access any documents or information needed. Companies can also benefit from service support, data backup and security, efficient file sharing, and reduced hardware costs. 

Manage Projects With Remote Collaboration Tools

When your coworkers are no longer just a desk away, team collaboration applications can keep projects organized and moving. They can assign tasks, set deadlines, track time, give progress snapshots—basically, anything you need to get your project done. With so many collaboration programs to choose from, we suggest you start by compiling a checklist of must-have features and narrowing down options from there. 

A Note On Adaptability

Many SMEs don’t realize they have a sizable advantage over implementing new processes and platforms: speed. And right now, the rate at which you can change can mean more than getting it perfect.