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    2023 Top 10 SMB Business Issues, IT Priorities, IT Challenges
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Techaisle Blog

Insightful research, flexible data, and deep analysis by a global SMB IT Market Research and Industry Analyst organization dedicated to tracking the Future of SMBs and Channels.

SMBs, core midmarket and upper midmarket firms are adopting RPA and how Xerox is a great match

Current trends show that Robotic Process Automation (RPA) adoption rates have risen significantly, with many businesses wanting to automate processes to increase efficiency. RPA is a non-invasive technology for making daily operations more efficient, allowing for increased productivity. While larger organizations have started early, smaller businesses have also begun to adopt RPA increasingly. While there is still some misconception that RPA is not so relevant for SMBs. The rise in adoption can be attributed to the fact that RPA technology helps boost productivity, enhance customer and employee satisfaction, improve cash flow, support audit and compliance requirements, and gain a competitive advantage. SMBs rely on efficient workflows and effective systems throughout all processes, and in the SMB space, efficiency is often a critical competitive advantage.

Importance of RPA to SMBs and midmarket firms

SMBs have constraints, such as limited resources and budgets, that demand flexibility. However, because SMBs are agile, they can quickly adopt new technologies with less friction. Large enterprises are generally burdened with complexity and red tape, but SMBs can embrace change and gain immensely by implementing RPA.

1. Technological competitive advantage: SMBs can improve productivity to gain a competitive advantage by automating repetitive and time-consuming tasks traditionally associated with back-end office functions.
2. Real-time tracking: RPA systems can track, analyze, and estimate an organization’s data in real time. Based on the estimates, SMBs can focus on improving their shortcomings and building their strengths. In addition, the data can be accessed anytime when required.
3. Cost reduction: SMBs often have limited resources and are highly cautious about direct and indirect costs. Hiring more personnel increases business costs, but by adopting RPA, SMBs can handle daily operations with lesser dependency on the human workforce.

techaisle smb key rpa trends

RPA Use Cases for SMBs

As RPA technology continues to evolve, its applicability across industries, functions, and systems also expands. Here are some of its SMB use cases.

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SMBs and midmarket firms cautiously moving away from Hybrid Work

Poised for liftoff for some time, the remote work revolution was set to shift into overdrive. However, hybrid work is challenging the SMBs. By the end of 2023, 32% of employees within the SMB and midmarket firms expect to have hybrid work arrangements, down from 58% in 2021 and similar to 29% (pre-pandemic levels) in 2019. Over 40% of SMBs and Upper midmarket firms are experiencing significant challenges impacting remote employees’ productivity. In addition, 39% of SMBs and 41% of upper midmarket firms have critical security concerns relative to remote and hybrid work. Furthermore, 43% of businesses cannot adequately support remote employees, and 39% cannot provide consistent technology experience for remote and on-site employees. Finally, 41% of SMBs and upper midmarket firms have not overcome organizational challenges in managing remote employees. Techaisle data shows that senior management is spending 3X more time maintaining company culture through the hybrid organization, 2.5X more time in employee empathy, and 2X more time in supervision and management. 

As a result, 62% of SMBs and 68% of upper midmarket firms plan to return all employees to the office in 2023. However, bringing the employees back to the office is also of concern to the executive management. As a result, 37% of SMBs are prioritizing office space planning, and 32% are identifying wayfinding technologies. In addition, 41% of upper midmarket firms are investigating ID management, and 40% are investing in smart meeting rooms.

techaisle smb midmarket hybrid work

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2021 Top 10 SMB and Midmarket Business Issues, IT Challenges, IT Priorities

One of Techaisle's SMB surveys' annual highlights is exploring top business challenges and IT priorities for small and midmarket organizations. They are here - Techaisle's annual SMB and Midmarket Top 10 IT Priorities, IT Challenges, and Business Issues infographics, 11th year of Techaisle tracking at a WW level, and is sought after by IT vendors, channels, and media. In all sectors, 2020 was a challenging year – and as a result, 2021 is challenging from a market planning perspective. The disconnect between 2020 and 2019 was so severe that it rendered forecasts effectively useless: IT suppliers reacted to shifting market trends in real-time. As we enter 2021, IT product and service suppliers look to create a context for understanding the range of outcomes that the new year may bring. Techaisle's "2021 in Focus" research series illuminates issues and requirements in the vast SMB market to support that effort.

Techaisle surveyed a total of 5720 SMBs, quota sampled to ensure adequate coverage of four small business (1-9, 10-19, 20-49, and 50-99 employees), three midmarket (100-249, 250-499, and 500-999 employees) and two upper midmarket (1000-2499, 2500-4999) segments. The data represents a robust and reliable sampling of the SMB market for IT products and services.

There is an ongoing trend – in both the buy-side and supplier communities – towards positioning IT initiatives and expenditures in a business context. By providing insight into the most pressing business issues, IT priorities, and IT challenges faced by small, midmarket, and upper midmarket businesses, Techaisle's research helps readers position their go-to-market strategies and offerings with core market drivers.

For 2021, Techaisle investigated 30 technology areas, each with several sub-technology categories, 30 IT challenges, and 30 business issues.

View and download Top 10 SMB Business Issues, IT Priorities, and IT Challenges
View and download Top 10 Midmarket Business Issues, IT Priorities, and IT Challenges
View and download Top 10 Upper Midmarket Business Issues, IT Priorities, and IT Challenges

In 2021, data shows that hybrid/remote work enablement is either the 2nd or 3rd top IT priority depending upon the segment. Collaboration, which Techaisle researched as a discrete category, is the 2nd top priority within SMBs, 3rd in the midmarket, and 6th in the upper-midmarket segments. Collaboration is already an established framework in most midsized businesses, hence a lesser priority in the enterprise-level mid-sized firms. There is a wide-ranging trend towards seeing collaboration as part of the fabric of business activity, rather than merely a means of enabling connections between discrete tasks. It is a core component for midmarket firms' digital transformation. For these firms, VDI and analytics are a greater priority.

The 2021 business challenge findings depict a wide range of objectives: expansion of the customer base, improved top-line, and bottom-line results, cost control (within IT and across the organization), competitiveness, improvement of existing operations and processes, product and process quality, workforce and regulatory issues, and (perhaps as a nod to the pandemic) a need for enhanced ability to manage the unknown.

It is a diverse list. But what is remarkable is that analytics solutions can help address all of these issues – and that, indeed, SMBs are using analytics to manage each today, which gives marketers who sell analytics solutions an enormous advantage. They can position their products as addressing strategic business priorities.

By far, within the SMB segment, the highest adoption growth rates will likely be in 5G, SD-WAN, containers/Kubernetes, UCaaS, VR/AR, AI, HCI, Customer experience tools, and Open-source solutions.

View and download Top 10 SMB Business Issues, IT Priorities, and IT Challenges
View and download Top 10 Midmarket Business Issues, IT Priorities, and IT Challenges
View and download Top 10 Upper Midmarket Business Issues, IT Priorities, and IT Challenges

2021 top10 smb it priorities business issues techaisle infographic blog

2021 top10 midmarket it priorities business issues techaisle infographic blog

2021 top10 upper midmarket it priorities business issues techaisle infographic blog

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Quickening pace of SMB and Midmarket digital transformation driving technology spend

Techaisle's latest SMB and Midmarket Digital transformation adoption trends research shows that 37% of small businesses (1-99 employees) and 46% of midmarket firms (100-4999 employees) expedited their digital transformation efforts due to pandemic. On the flip side, 27% of SMBs (1-999 employees) slowed down their digital transformation to prioritize their business's essential aspects, such as revenue generation. 27% of upper midmarket firms (1000-4999 employees) either changed their approach to transformation or kept the same pace as before the pandemic.

Investment in digital transformation has been underway for several years and was poised to be an essential factor in the IT and business market in the early 2020s. The pandemic lent urgency to digital transformation – but having arrived in a hurry, the changes wrought in response to the pandemic do not appear to be leaving as abruptly.

The accelerated pace of transformation will result in US$1,163B worldwide spend on IT (excluding telecom services) by SMB and upper-midmarket firms in 2021.

Unlike many IT market terms, which tie to specific technologies or technology capabilities, digital transformation is most often used to indicate an amorphous state in which an organization can seamlessly deploy new digital capabilities that streamline current or next-step processes, eliminating the business friction.

Organizational restructuring to hasten pace of transformation

Generally, firms consider digital transformation as a proxy for process efficiency. For many years, it has been a management goal, embedded without a consistent set of steps and defined outcomes in the IT plans of a substantial majority of SMBs. The pandemic brought urgency to these plans: there are numerous anecdotal reports of IT leaders being told, "you know that three-year digital transformation plan? Can you deliver it in three months instead?" For the most part, these requests tended to have a minimal additional budget attached to them, generally came without requisitions for new IT staff. These requests reflected management's understanding that highly-automated processes are essential in a business environment where physical interactions are awkward or forbidden, adding necessity to efficiency as compelling reasons to invest in digital transformation.

To change the transformation pace, 17% of SMBs are restructuring their entire organizations, and 24% are creating new functions dedicated to digital transformation. The changes will be more pronounced in the midmarket and upper-midmarket firms, which are quickly putting together dedicated groups and departments to digitize, digitalize and transform their organizations. Nearly one-fifth of SMBs are relying on their employees to guide transformation initiatives.

Changing digital transformation drivers

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