CLOUD WITH A SILVER LINING
Rectron, Forest Technologies, Standard Bank
SMEs, the Cloud and Financial Services
Download 2015 Executive Summary
SMEs with 2-200 Staff
SMEs don’t think banks are their friends
- SMEs have difficulty articulating what they require from the financial services sector.
- Banks are a least likely source of funding, yet many use overdrafts without seeing it as funding.
Main reason: they are seen as punitive.
- Obtaining funding itself requires extensive resources.
- Banks need to become more SME-friendly and more funding-friendly.
Challenges are magnified for SMEs
- SMEs do not have the resources to mitigate the impact of load shedding.
- When it does strike, impact is far greater.
- Impact is also cumulative, and SMEs are now buckling under the strain.
- Threat also comes from their own lack of urgency to adopt risk mitigating solutions like continual back-up.
Offer SMEs specifics, not concepts
- Disconnect between what SMEs consider to be cloud and actual cloud services many use shows lack of education about what the Cloud really is and what services actually form part of it.
- Providers must be more active in educating.
- Key is to market the applications within the Cloud, not the Cloud itself.
The cloud with a silver lining
- Even if they don’t know it, most SMEs use cloud.
- Online banking, mail, accounting and CRM all prove SMEs are ready to trust cloud with sensitive data.
- Now SMEs must join the dots, linking the threat of power failures with the protection of the cloud.
- They are rapidly getting there, and it is now becoming more about strategy than technology
1 Seminar attended by 100 delegates: JHB