Trends Accelerated by Tech Enablers for SMB

by Vijay Vedanabhatla, Entersoft US LLC
Small and Midsize Businesses (SMB) continue to balance short term revenue and long-term value. We see multiple trends accelerated by technology enablers that can help SMBs and expect the following to persist.

Omnichannel Behavior: More consumers are comfortable now more than ever in spending resources on newer technology platforms. SMBs should also be encouraged with majority consumers now accepting non-branded commodities.

Social Affiliation Bubbles: This trend reflects the expanding forms of communities that major industry leaders are building to nurture new partnerships. Significant increase in accessibility of local produce during the pandemic can be credited to these social affiliation bubbles.

Asset Resiliency Governance: Though in early stages, we are observing more governance mandates to demonstrate business resiliency. There are opportunities for SMBs to capitalize through diversification and sharper focus on efficiencies.

Fail Fast Enablers: There are more capabilities available for SMBs than ever to explore cost effective avenues to build, test and migrate faster. Getting spontaneous consumer feedback and constant improvements are enabled through many of these innovative platforms. Adapting operations to these accelerated trends have proven to expand customer base and bring in new consumer demographic.

by Vijay Vedanabhatla, Managing Director, Entersoft US LLC