In a report by the Australian and New Zealand Banking Group (ANZ), digital tools utilized by SMEs are analyzed. According to research by ANZ, “Using digital tools saves SMEs 10 hours per week on average and boosts revenue by 27 percent. Collectively, this amounts to 22 million hours saved per week and an additional $385 billion per year in revenue across all Australian SMEs.”
According to the report, digital value is based on four different mindsets of SMEs, they include:
- Digitally Dismissive
- Digitally Confident
- Digitally Tentative
- Digitally Advanced
Majority of SMEs understand the importance of digital value and the ones utilizing the tool have engaged professional advice to ensure maximum benefits are achieved. “They [SMEs] also understand that digital solutions have the potential to address significant pain points, taking care of mundane, repetitive tasks and also provide insight and direction via a deeper understanding of customer behaviour.”
