The hardest part of a CIO’s role is managing the demand for innovation through new, game-changing technologies while retaining the value of existing investments. Technology leaders in smaller businesses may have smaller budgets than their enterprise counterparts, but they often have far more freedom to innovate with the tools they already have.
Most South African SMEs are the embodiment of the adage: what doesn’t kill you makes you stronger. Following two years of business interruption and rapid modernisation caused by the COVID-19 pandemic, small and medium businesses are now having to navigate an increasingly constrained economy and yet more disruption as a result of load-shedding.
Where the pandemic accelerated digital transformation, today’s challenges are forcing businesses to balance cost-cutting measures with technology implementations that can deliver growth and improved customer experience. The age-old question of how to do more with less is forcing CIOs in small and medium enterprises to look beyond technology to find new ways to create a competitive edge.
Surrounded by support
The development of new digital channels and the wholesale adoption of remote and hybrid workforces over the past few years have gone a long way to levelling the playing field between SMEs and their larger counterparts. This can be seen not only in the growing number of digitally mature SMEs, but in their priorities. Whether they are responsible for six-figure IT budgets, or have much less to spend, CIOs are spending just as much time and effort discussing business strategy as they are focusing on technology strategy.
The biggest difference between technology leaders in large organisations and CIOs of smaller businesses is their support system. Aware of the fact that every piece of technology they employ must be focused and effective in creating value, these CIOs are looking to their technology partners to provide more than just the basics.
Most SMEs have fairly small IT teams, forcing them to concentrate on managing their existing technology investments. Small business CIOs are still innovation-driven, but they have far fewer resources with which to achieve their goals. This is why they should rely on their partners to help them find new opportunities for technology to add real business value while still optimising costs.
In addition, the growing number of cyber threats is placing IT teams in SMEs under additional pressure. Safeguarding their data should be the number one priority for these businesses, but most don’t have the specialist security skills needed to stay ahead of today’s cyber criminals. Even with automation helping to ease the load, smaller businesses are still the primary target for ransomware and phishing attacks. It should come as no surprise, then, that many CIOs are starting to appreciate the value of a partner that will not only manage their cyber security ecosystem, but that can help educate employees about common threats and how to avoid them.
The difference between surviving and thriving
While an SME might be able to survive by using only cloud-based tools and the resourcefulness smaller businesses are known for, those that are thriving have learned how to leverage their technology investments and their partners to improve how they do business. In a world where customers demand superior service across multiple touch points, SMEs are ideally placed to create and maintain a competitive edge.
Due to budget, resource and skills constraints, smaller businesses have to find unique ways to delight customers. However, exceptional customer service has always been the hallmark of successful SMEs. The right tools, deployed in the right way, can help even a small team deliver the kind of outstanding customer service that sets them apart from their competitors.
It’s a balancing act: SMEs have just enough budget to be tempted to try to provide every staff member with the latest and greatest technology, but business value and real results can just as easily be achieved through more cost-effective solutions that provide employees with the tools and information they need to do their jobs effectively.
With ongoing digital transformation efforts having proved the value of technology investments among SMEs across all sectors, CIOs have more freedom and bigger budgets than ever before. However, the CIOs who are successfully driving their business into a sustainable future are not those who are throwing money at the problem. The leaders who are creating the foundation for long-term success are those using all the resources at their disposal to refine their technology ecosystem through strategic choices.
For more information on how MTN can co-create solutions for your business, send a mail to MTN Business. Getconnected@mtn.com
This article was first published in the ITWeb Brainstorm CIO Survey 2022/2023 report, sponsored by MTN Business.
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