Digital technology. Individuals use it to stay connected, designers use it to enhance their art and local entrepreneurs use it to launch scalable businesses quickly.

With the rapid development and adoption of digital technologies, firms have recognized the need to embrace technology so they can remain competitive in the global marketplace. Digital technology has transformed how people communicate, learn and work today.

According to the Government of Canada’s Digital Economy strategy, in order to create the right conditions for a world-class digital economy, Canadian businesses need to adopt digital skills to learn more about how the Internet, social media and virtual realities can fuel their desired growth. Specifically, digital skills can be understood as the ability to locate, organize, understand, evaluate, create and share information using digital technology, which involves knowledge of current communications technology and an understanding of how it can be leveraged.

Digital transformation, i.e., the use of technology to radically improve the performance or reach of enterprises, has become a major issue taxing the minds and abilities of company executives. Across sectors, organizations are using digital advances in operations, analytics, mobility, social media and “smart” embedded devices to change their customer relationships, internal processes and value propositions.

Executives at small- or medium-sized enterprises (SME) are in a position to continuously innovate with respect to how their company can grow. They are constantly thinking about different tools to automate and accelerate their business and are seeking solutions that are inexpensive and easy to implement.

Why adopt digital technology for your firm?


Bottom line: Embracing digital technology is more a requirement than an option to grow to your business, regardless of the company’s industry or location.

Decision-makers often face challenges with the implementation process, from identifying the best tools to measuring their success. The following progression of questions may be familiar to executives:


As part of the Digital Technology Adoption Pilot Program (DTAPP), MaRS hosted its first Digital Technology Summit last month.The aim was to help give executives of SMEs the knowledge and network needed to develop digital skills and adopt the tools required to fuel business growth.

The one-day summit featured dynamic presentations from 20 industry experts in areas including e-commerce, cloud, accounting and customer relationship management (CRM). A tradeshow exhibition showcased digital technology companies and their solutions for SMEs.

The Summit focused on four areas that hold the fastest-growing digital tools that are critical for small- and medium-sized enterprises:

  • Accounting
  • E-commerce
  • CRM (Customer Relationship Management)
  • Cloud Technology

If you weren’t able to attend the Summit, or would like to see some of the presentations again, you can watch the videos below:

Pressed for time? Check out these hot tips videos from the event:

 

 

Sarah Katyal

Sarah is the program manager at JOLT. She is passionate about the intersection of digital technology and social change, and has been recognized by the Harvard Business School and Chatelaine magazine as one of the leading voices for young entrepreneurs. See more…