Would you like to save on IT and reinvest the savings in your business?

Many SMBs would love to say to “yes” to this question, but are held back by concerns over adopting cloud technologies, feeling that if their technology is on premise that they are in control.

However, in many instances their on premise software is actually holding back their growth.  Many businesses run their business critical processes on disparate systems; with much of the information they use in spreadsheet format.  SMBs are also leaving decisions about what software they should be using for accounting, customer relationship management, marketing in the hands of the IT Manager who invariably doesn’t understand the needs of each specific department from a business perspective.

Business Managers need to be making decisions about implementing software that offers them best practice processes, in order that businesses can grow and keep up with their competition.

An independent review of UK SMBs published this month by Microsoft found that:

o          78 percent of SMBs have reinvested money saved as a result of moving to the cloud in areas such as customer service, marketing, and expanding into new markets.

o          Investing in product development and innovation (35 percent) was cited as the main savings reinvestment for SMBs that have adopted the cloud.

o          Fewer internal IT resources needed (58 percent) and time saved managing IT (49 percent) were considered the biggest benefits of cloud services by SMBs.

o          Since moving to the cloud, 68 percent of SMBs said they have saved money. 78 percent of SMBs have used their savings to fund activities that benefit and grow their businesses:  35 percent have invested in product development and innovation, 34 percent have invested in customer service,  32 percent have invested in marketing

Wouldn’t it be great if all SMBs could be reinvesting in their businesses?  Cloud technologies offer the SMB the opportunity to divest themselves of out of date on premise technology, cost effectively as there is no need for new costly hardware or long implementations.

From a business perspective a solution that enables companies to benefit from a 360^o degree of their processes through finance, marketing, human resources, procurement, supplier and customer relationship management greatly enhances their ability to make decisions based on accurate, up to the minute data.

Software such as SAP’s Business ByDesign offers companies the ability to deploy an integrated solution and pay a monthly subscription, allowing them to accurately forecast their IT needs with no hidden extras.