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2020 Small Business Digital Transformation - Cisco

Research Insights by 2020 Small Business Digital Transformation A Snapshot of Eight of the World's Leading Markets Brazil | Canada | Chile | France | Germany | Mexico | United Kingdom | United States 1. Executive Summary Digitization is no longer an option, it's a necessity. followed by France and Canada. Small businesses in The right technology vendor, with the right Once considered a way for companies to gain Mexico, Brazil, and Chile trail behind despite having technologies and expertise, will help overcome competitive advantage, digitalization has now accelerated their digitalization amid the crisis.

and analytics or artificial intelligence (AI), for better engagement with customers, partners, and employees. To understand the state of small businesses’ digital transformation maturity, IDC developed a worldwide framework to help small businesses clearly assess their current capabilities and establish goals that work to synchronize business

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Transcription of 2020 Small Business Digital Transformation - Cisco

1 Research Insights by 2020 Small Business Digital Transformation A Snapshot of Eight of the World's Leading Markets Brazil | Canada | Chile | France | Germany | Mexico | United Kingdom | United States 1. Executive Summary Digitization is no longer an option, it's a necessity. followed by France and Canada. Small businesses in The right technology vendor, with the right Once considered a way for companies to gain Mexico, Brazil, and Chile trail behind despite having technologies and expertise, will help overcome competitive advantage, digitalization has now accelerated their digitalization amid the crisis.

2 Tightening resource constraints. Also, Small become a matter of survival. The COVID-19 businesses' entrepreneurial spirit and growing pandemic has exacerbated the Digital divide In 2019, Small businesses contributed 48%, or appetite for innovative technologies will help them that was already present in the Small Business US$17 trillion, to the GDP of these economies. ensure Business continuity in 2020, accelerate their market, and it is forcing companies to accelerate Further Digital Transformation of Small businesses growth, and become resilient for the future.

3 Their digitalization. For digitally progressive Small could increase the GDP growth of these countries businesses, it is about building resiliency, while for by an additional US$ trillion, or up to of those lagging behind and that are indifferent to technologies, digitalization has become the answer additional GDP, by 2024. US$ trillion could be added to GDP growth by 2024. to Business continuity. IDC's research shows that Small businesses that if more Small businesses advance their are successfully transforming ( Digital Challengers) Digital Transformation journeys.

4 To better understand the opportunities and generate multiple times more sales to aid their challenges that Small businesses face during this recovery, while the leading Small businesses ( Digital crisis, Cisco commissioned IDC to assess the state of Small businesses' Digital Transformation maturity Natives) enjoy 8X higher growth. These Small Business leaders are more resilient than those in the 8X. across eight key markets across the globe: Brazil, early stages of Digital maturity. Leading Small businesses ( Digital Natives). enjoy multiple times more benefits Canada, Chile, France, Germany, Mexico, United (revenue) than those in the earliest maturity Kingdom, and United States.

5 A similar study was Achieving this goal requires Small businesses to stage ( Digital Indifferent). also run across 14 Asia Pacific markets. make significant changes, from setting the right strategy, to making the necessary technology The results are telling. This crisis has driven over 70% of the Small businesses surveyed to investments. Cloud, a foundational pillar for digitalization, is the number 1 technology priority for 72%. accelerate their digitalization. And while the majority Small businesses, allowing them to quickly provision of Small businesses across the eight of Small businesses have already started their resources as the Business grows.

6 Markets surveyed are accelerating their digitalization journeys, only 24% are in the most digitalization rates to address COVID-19. advanced stages, with 4% in the Digital native While Digital technologies are more widely available challenges. stage. Conversely, 26% of Small businesses remain today and help level the playing field, Small in status quo mode they have remained largely businesses, given their size, face constraints on reactive to market changes and have made little many fronts. In the survey, Small businesses cited Lack of Digital skills effort to digitally transform.

7 Digital skills shortages, cultural resistance to change, and cultural resistance and lack of budget as their top challenges. are the top 2 challenges for Small Out of the countries surveyed, Small businesses in the businesses undergoing Digital United Kingdom, United States, and Germany have Today, Small businesses are under increasing Transformation . made the most progress in their digitalization journeys, pressure to build resiliency and to stay competitive. 2. About the 2020 Small Business Digital Maturity Study IDC defines Small Business Digital Transformation (DX) as the digitalization of businesses a Respondents Company Size customer-centric Business strategy with the goal to transform internal operations using Digital technologies, such as cloud, mobility, social, 2,030 50 499.

8 Augmented/virtual reality, Internet of Things (IoT), in 8 markets: employees and analytics or artificial intelligence (AI), for Brazil better engagement with customers, partners, and employees. Canada Chile Industries To understand the state of Small businesses' France Construction Digital Transformation maturity, IDC developed a worldwide framework to help Small businesses Germany Financial Services clearly assess their current capabilities and Mexico Manufacturing establish goals that work to synchronize Business Media United Kingdom objectives with IT needs.

9 United States Resources More than 2,000 Small businesses Retail & Wholesale across industries were surveyed in 2020, Services including financial services, manufacturing, IT Influence telecommunications, media, transportation, Telco Decision makers of their construction, retail, and wholesale. Utilities company's IT purchases Objectives To determine Small businesses' readiness for digitalization in eight of the world's leading Role markets Manager-level and above, such as Business owners, To understand the impact of DX among Small businesses on driving economic activity CEOs, directors and heads of departments To understand the challenges and opportunities that Small businesses face when it comes to DX.

10 3. Worldwide Small Business Digital Maturity Index: Four Masteries The Small Business Digital Maturity Index is made up of four dimensions: Digital Strategy and Organization, Digital Processes and Governance, Digital Technology, and Digital People and Skills. Each dimension targets an essential aspect of Digital mastery and can be assessed independently as a measure of the relative maturity of a specific aspect of Business functionality and performance, providing goals for Small businesses to target on their Digital Transformation journey. How is the company What's the level approaching of automation, digitalization?


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