INTHEBLACK April 2022 - Magazine - Page 18
GET SMART
// T I M E S T H R E E
COMPILED BY SUSAN MULDOWNEY
WHY SMES NEED
TO ADOPT CLOUD
TECHNOLOGIES
As technology evolves at an ever-increasing pace, many small and
medium-sized enterprises (SMEs) are struggling to keep up. How
can they harness the power of the cloud today to avoid being left
behind tomorrow?
01
J O S E P H LY O N S
MANAGING DIRECTOR,
X E R O A U S T R A L I A A N D AS I A
Xero’s recent One Step report uses behavioural
science to identify the beliefs and barriers small
businesses face when considering new
technologies. It shows that small businesses that
readily adopt new technologies enjoy 120 per cent
more revenue and 106 per cent more productivity.
Despite these benefits, only 19 per cent of
Australian small business owners think of
themselves as keen technology adopters.
What is holding them back? There are three
key mindsets small businesses must overcome
to avoid being left behind. Resistance to change,
the belief their current solutions are fine, and a
perceived lack of urgency are key barriers.
Digitalisation isn’t tomorrow’s problem – it
must happen today. Small businesses can feel
intimidated by adoption of new technologies,
especially with so much already on their plate.
Advisers can help their clients embrace change in
a few ways. First, by breaking this process down
into small, manageable steps, instead of giant
leaps. Second, by sharing stories of their peers
who have made the switch, as small business
owners tend to be more willing to try something
new if they see others benefiting from it. Finally,
by narrowing and simplifying choices.
Decision paralysis holds many Australian small
businesses back, so keep it simple. Limit the
number of choices on offer using direct
comparisons and language around processes
and outcomes rather than statistics and features.
Taking the right measures now can help small
businesses harness the power of the cloud in
the future.
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18 ITB April 2022
Small businesses that readily adopt new
technologies enjoy 120 per cent more revenue
and 106 per cent more productivity. Despite these
benefits, only 19 per cent of Australian small
business owners think of themselves as keen
technology adopters.