Why Even Small Businesses Need Business Process Improvement | 2 Minute Read
Is your small business missing out on opportunities to improve customer satisfaction, reduce costs and improve overall efficiency? Since there are more sole proprietors and pass-through companies than there are corporations in the United States, this is an important question.
Small business owners wear a lot of hats -- they're constantly busy and nearly always mindful of expenses. These may be important reasons why they often postpone implementing new technologies that could help them serve more customers better at lower costs. At the end of the day, it takes a lot of time and energy to implement solutions when old methods still work.
In a recent survey, a little more than 37 percent said they're not adopting any new technology because they don't need anything else, and more than 22 percent said it's simply easier to do things the way they're currently done than to invest in new technology. Additionally, nearly 19 percent said that, when it comes to adding more tech into daily business, "the hassle of buying and implementing it isn't worth it."
It's generally thought that price and lack of tech support are the two primary barriers to tech adoption among the small business set. Yet, according to IDC, 62% of businesses believe slow, manual processes are limiting their revenue. So, while small businesses are particularly prone to retaining old systems in the mistaken belief that it's too costly to upgrade and improve, this very prudence may be preventing their companies from growing.
We've found that Business Process Management (BPM), which was once considered a luxury that only large organizations could afford, is now considered a critical part of business operations -- regardless of business size. In fact, BPM may be even more important for small to medium size organizations if they want to stay competitive.