The European SMEs point decisively to digital transformation and are willing to invest in this area up to 20% of the IT budget. Despite what they feel hampered by external factors and encounter more difficulties than large companies and small ones.
New research commissioned by Ricoh Censuswide highlighted that 95% of European SMEs expect that digitization brings significant benefits. In addition, half of the sample said that the digital transformation is essential to overcome some barriers to growth.
63% of respondents mentions these regulatory complexity barriers and the costs of their implementation as one of the main issues that could be resolved thanks to the switch from paper to digital.
Almost 91% of medium-sized companies say that this transformation is harder for them than it is for large companies and small ones.
It is because the big companies have the economic resources to introduce specific skills, while small ones have less difficulty because they are more agile, more technology and more inclined to understand the benefits of digitization.
Nevertheless, the medium-sized companies have already begun the journey into the digital world by developing projects to transform business processes, with 94% of them that have already implemented specific technologies for digital transformation.
Medium-sized businesses are finally aware of the value of digitization, and 66% of the sample agrees that it would allow obtaining the competitive advantage. The improvement of business processes is cited as the most demonstrable advantage (indicated by 80% of the sample), while the financial department is considered the primary beneficiary of these technologies, followed by sales and customer service.
Medium-sized companies aiming firmly to digitization, but are held back by some factors that do not depend on them. European governments should understand the importance of providing appropriate support this market segment.
This means considering the medium-sized enterprises in their specificity and eliminating bureaucratic barriers that slow down the run toward digitization.