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CHALLENGES FOR SMALL AND MIDSIZE  BUSINESSES (SMBs)


 

 

Smaller enterprises ducked the ERP wave of the mid 1990s and did not succumb to the cost structures or the risks that their larger brethren undertook. Now, these firms often have outdated or overloaded applications and need to invest in new technology to achieve or retain competitiveness in their markets, require a rapid time-to-implement any software applications, and demand a rapid return on their application investments. Today, many SMBs are in need of upgrades, more or different software applications, more current or robust technology, and often more sophisticated business solutions.

SMB strategies today:

Improve existing methods for customer acquisition and retention.

Enhance research and development (R&D) capabilities.

Improve ability to hire and retain key talent.