Harnessing Technology to Drive Business Growth for Medium-Sized Businesses
Tech Blog
Connectivity
November 30, 2022
Technology is the single biggest driver of medium business growth, yet it is also seen as the number one internal challenge. This dichotomy can be a difficult hurdle for decision-makers to navigate. From increasing productivity in the workplace and boosting morale, to understanding the latest trends and finding tech partners who are reliable and knowledgeable, medium businesses should recognise that embracing digital transformation can help take their organisation to new heights and incentivise their team with real motivation to perform and take their career in the direction they choose..
By investing in the right technologies, businesses can increase efficiency and reduce costs, allowing them to focus more of their resources on creating value for their customers. This will enable medium business owners to make the leap from traditional operations and procedures to an agile and data-driven culture.
One thing that is showing to be true about Digital Transformation it that it is having a profound impact across all sectors and industries wether that be the tech advancements made in Manufacturing to public sector such as digital transformation schools and healthcare. Technology is making an impact and staying ahead of the curve is one way your organisation can remain relevant and competitive.
•According to a Virgin Media O2 Business and Censuswide survey of 1,000 medium business leaders in August 2022, technology is the single biggest driver of medium business growth. • An overwhelming number of respondents identified technology as a key driver of business growth. Medium-sized businesses also recognised the other benefits of technology, too, such as increasing productivity in the workplace and boosting morale. • Decision-makers recognise the power of technology and are looking to embrace digital transformation to deal with the challenges ahead. To do this, they will need the support of their IT teams and digital partners such as The One Point.
“When you look at medium businesses, we might not always make the biggest, headline grabbing strides but collectively we're the backbone of the UK economy.” Lynsey Barron, CEO, Volume Innovate
Technology is the single biggest driver of medium business growth
An overwhelming number of respondents to a Censuswide to survey 1,000 medium business leaders identified technology as a key driver of business growth. Medium-sized businesses also recognised the other benefits of technology, too, such as increasing productivity in the workplace and boosting morale.
This is where there is more work to be done. While tech is clearly critical for growth, it was also chosen as the number one internal challenge faced by medium businesses. What’s more, nearly half of our respondents told us they wanted more support from their IT team to help drive their business ambitions forward.
Rethinking the focus of IT teams
“From someone who'll be left doing the administration for it internally, if someone else can do some of the heavy lifting (on the cloud), then it's a no brainer. It allows us to focus on supporting our team even better.” Alexander Dixon, Head of IT, Pollard Thomas Edwards
IT teams know their businesses inside out. This kind of knowledge could transform what medium businesses can do with their technology, so long as these team members have the bandwidth to apply this expertise. This is where specialist support comes in.
Technology problem-solving shouldn’t be the burden of a busy IT team dealing with day-to-day issues. Instead, it could be your tech partner who is there at the end of the phone, freeing up your team’s time and helping to forge an IT strategy that powers your business’ growth.
Helping medium-sized businesses reach their goals through the power of partnership
Agility, adaptability, resilience – these are the defining characteristics of medium-sized businesses. Decision-makers at these companies need partners who share these characteristics.
It's time for leaders to expect more from their suppliers, partners, and IT teams. As we look towards an uncertain future, it’s vital medium businesses challenge these partners to help them overcome any obstacles in their path.
Where do leaders feel tech can support them the most?
28% of leaders say by improving efficiency
26% say improving productivity
23% say increasing revenue
23% say improving collaboration amongst teams
Powerful Partnerships
Virgin Media Business and O2 Business joined forces to offer a new standard of consultancy that will help businesses achieve more with their technology. Whether you’re a tech expert or someone in need of a little more support, working with a powerful partnership with The One Point and Virgin Media Business and O2 takes the job of problem-solving out of your hands so you can take your business on its digital transformation journey with confidence.
Medium-sized businesses expect more from their connectivity partners. The One Point and Virgin Media O2 Business are here to meet those expectations.
The benefits of technology in today’s business environment are immense. It enables companies to offer personalised customer experiences and access products or services quickly and easily, while helping them manage a multitude of tasks more efficiently. As technology continues to evolve, so too will the opportunities it brings. For example, cloud computing allows companies to store data securely offsite, meaning they don’t have to worry about physical storage space or losing files due to hardware failure.
Cloud computing also enables employees to access information from anywhere with an internet connection - providing significant cost savings over traditional on-site networks. Additionally, machine learning algorithms can be used to streamline processes such as customer service requests or sales leads - freeing up time for more important tasks and allowing businesses to focus on growing their customer base.
The Microsoft 365 cloud advantage
Microsoft 365 is a key tool that can help organisations achieve digital transformation. By bringing together Productivity Apps, Microsoft Teams - integrated with VoIP, Windows 11, and Enterprise Mobility + Security, Microsoft 365 provides a comprehensive platform that helps organizations to modernize their infrastructure and unlock new productivity. With Microsoft 365, businesses can move away from traditional desktop applications to cloud-based services, enabling them to work flexibly and securely from anywhere. In addition, Microsoft 365 provides advanced security features that protect data and devices from threats. As businesses continue to face the challenges of digital transformation, Microsoft 365 will play an increasingly important role in helping them to succeed.
Technology Challenges for Medium Businesses
However, there are still challenges associated with incorporating technology into a medium business’ operations. Finding a reliable digital partner and IT Support partners focused on your business success who are able to provide robust solutions tailored specifically towards your business’ needs can be difficult - not all providers understand the unique requirements of a medium-sized company, may not be able to deliver on their promises and may contribute to spiralling costs.
Furthermore, no matter how robust your tech partner is, issues still arise that need resolving quickly in order for your business operations to remain uninterrupted – this could be anything from an issue with staff access rights or even something as simple as troubleshooting email problems. This problem-solving shouldn’t fall onto your busy IT team but instead should be taken care of directly by your tech partner at the end of the phone or via remote support if necessary – giving you peace of mind that any issues will be dealt with swiftly and professionally so that you can get back up and running as soon as possible.
Conclusion
Technology has revolutionised how we work in almost every industry.
Although utilising technology does bring its own set of challenges for medium businesses, when managed correctly these obstacles can easily become opportunities for growth – especially when partnered with a reliable tech partner who understands your needs and provides immediate problem resolution when required. With innovation continuing apace across multiple industries, there is no better time than now for medium businesses looking forward into 2023 and beyond!
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