PwC MSME Survey 2020

Role of technology for SMEs in boosting productivity and growth The role of technology in the 21st century cannot be overemphasized. Many aspect of our lives are going digital, including the way we do business. SMEs need to take advantage of the increased productivity and growth technology can bring. SMEs can enjoy increased brand exposure, more efficient business processes, better customer experience and increased sales through technology. Brand Exposure 01 02 Technology makes it possible through social media to increase brand exposure. SMEs can promote their products and services, as well as target and engage new customers via social media platforms. They can also take advantage of the services that social media platforms offer to identify target market audiences with promotional ads and videos. Business Processes Automating business processes can help save time and energy ultimately leading to increased productivity. Automated recorded-keeping processes for example makes information more accessible when needed to make quick business decisions. The goal of technology in this case is to make business processes seamless. 03 04 Customer Experience Technology can be used to gain a better understanding of the customer. With data analytics, SMEs can get an impression of their customers' perceptions of their brand. SMEs can also improve their customer experience with a strong and engaging social media presence. Sales Technology has made it possible for a wide variety of payment options to exist. SMEs need to take advantage of these opportunities. More payment options increases the chances of customers purchasing products or services especially when a customer's payment preference is included in the available options. PwC MSME Survey 2020 PwC June 2020 70 70

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