Covid-19 aftermath

SMEs see digital transformation as cure

15:06 | 14/09/2020 Companies

(VEN) - Bouncing back from the effects of the Covid-19 pandemic requires small- and medium-sized enterprises (SMEs) to adopt innovation in work processes and flexible work options and to customize their products and services.

smes see digital transformation as cure

According to an HP study on SMEs in Asia-Pacific, titled “Survival to Revival”, over half of SME owners expect not just to survive but thrive following the pandemic and feel that digital transformation will be a key part of this revival.

Some 60 percent of over 1,600 SMEs surveyed earlier this year see digital transformation as key to innovation in work processes, flexible work options and customized products and services. However, cost effective solutions are required given that cash flow remains a top priority and SMEs are unclear where to look or what solutions are available. This is especially important as only four out of 10 SMEs have a department or person responsible for innovation.

Lim Choon Teck, managing director of HP Vietnam, said most surveyed SMEs in Vietnam are confident about post-pandemic survival. Only one-third said the Covid-19 pandemic has affected their finances.

The study provides HP with valuable insights about recovery strategies in order to offer practical help for SMEs. Completed in June 2020, the study surveyed SMBs across Australia, India, Indonesia, Japan, the Republic of Korea, Singapore, Thailand, and Vietnam.

The study reveals that businesses most confident of bouncing back pay high attention to digital adoption. Across the region, nearly 60 percent of surveyed SMEs find digital adoption very important or essential. In addition, growth projections are significantly adjusted after the pandemic, with the number of SMEs expecting growth dropping from 46 percent to 16 percent. India and Vietnam are most confident of post-pandemic growth, while Singapore, Japan and the Republic of Korea are least positive.

According to the study, SMEs are unclear on where to look for assistance. Some 60 percent consider government support to be insufficient and/or are unclear on what support is available, while only 19 percent of respondents turn to IT companies for help.

To support SMEs, HP has introduced integrated services-based print solutions, including a Roam for Business package that makes mobile printing easy, and an enhanced version of HP SecurePrint, which now supports all network types.

Mai Ca