Adopt digital technology to fuel business growth

March 23, 2012

The first thing that might have crossed your mind when thinking about digital technology and business growth is social media. We know that social media penetrates many areas of a business (recruitment, business development, brand development, and so on), and if executed correctly, social media strategies can help companies enjoy significant returns for minimal costs. But what about other important digital tools like accounting, e-commerce, cloud technology and customer relationship management (CRM)?

As an executive at a small- or medium-sized enterprise (SME), you’re in a position to continuously evaluate new, innovative ways of encouraging company growth. You probably think a lot about the different types of digital tools that could help automate and accelerate your business. And you likely also look for solutions that are inexpensive and easy to implement, especially given the costs associated with maintaining legacy equipment. A recent IDC study found that worldwide, at least 75 per cent of IT spending is currently tied up with the maintenance of legacy systems and routine upgrades.

The following are some of the many benefits of adopting digital tools:

Eliminate costs – digital tools like accounting software can save you thousands of dollars in hardware, software and HR costs.
Generate a culture of efficiency – digital tools cultivate focused internal processes that lead to strategic, efficient decision-making among employees.
Become lean to increase productivity – SMEs can easily implement and invest in various types of digital tools leading to enhanced productivity.
Financial growth – limit your capital expenditures by using SaaS (cloud-based) tools.

Bottom line: Digital technology is more of a requirement, and not merely an option, for growing your business, regardless of your industry or location.

Now, the question is, which tools are available for your business and how can you adopt them effectively?

As part of the Digital Technology Adoption Pilot Program (DTAPP), on March 29 MaRS is hosting a one-day, free Digital Technology Summit to help arm executives in SMEs with the knowledge and network they need in order to adopt the digital tools required to fuel business growth.

Featuring dynamic presentations from industry experts, informative panel discussions and a number of booths showcasing innovative digital solutions, the MaRS Digital Technology Summit offers key insights and practical adoption strategies for SMEs in the following areas:

Accounting: Explore the various innovative and simple accounting tools available for SMEs. A special presentation by Scott Zandbergen from Wave Accounting, along with FreshBooks and KPMG.
E-commerce: Learn about the tools and technologies currently used in successful e-commerce businesses. A special presentation by Brent Houlden and Jennifer Lee from the Deloitte Retail Outlook team, along with Shopify, Well.ca, Demac Media and Dealuxe.
CRM: Learn how you can adopt innovative CRM tools and solutions to fuel business growth. Featuring a special presentation from Microsoft Canada, along with Salesforce, the Rotman Centre for CRM Excellence, NexJ Systems and Timeraiser.
Cloud Technology: A special presentation from 360 Visibility on how to use hosted (cloud) technology to reduce costs, drive productivity and increase revenue.