More SMBs Investing In Data Security, CRM: Study

by CXOtoday News Desk    May 21, 2018

investing

SMBs are largely leveraging data and information security and are demonstrating great interest in CRM software, according to the latest research by business software resource Capterra. The survey predicts 68 percent of SMBs are currently leveraging data and information security in 14 industries conducted by Capterra partner company Gartner.

Tirena Dingeldein, senior analyst and content manager at Capterra, gives a heads up to all SMBs to use such technologies. “The SMB community must commit to 100 percent participation in security management in order to stop data breaches. Hackers are increasingly becoming sophisticated in their attacks, and it is well past time to invest in a data management or information security solution,” she said.

A percentage of almost 73 say that they find CRM software to be extremely critical to their organization.

CRM software is the way successful businesses nurture their customers and open up their sales funnel. Without a CRM, small businesses risk time and resources used to build customer relationships, Dingeldein said.

According to the recent findings, 59 percent of SMBs Gartner interviewed are using cloud computing today. 

The report also highlights signs that an SMB is ripe for a cloud offering:

The SMB’s budget for maintaining systems in-house is increasing beyond what has been normal in previous years. More time is spent waiting for data to populate than is spent using it for work. The SMB’s existing data filing system has outgrown that which its in-house solution can handle.

There is a tint of interest in planning, evaluation or is already in place among 38 percent of participants, for the adoption of blockchain. More than 50% respondents believe that blockchain is a not good source for conducting business but is beneficial.

Blockchain may not be a necessary requirement right now, but it should also not be discounted for future consideration. It is predicted that blockchain will have a significant impact on small businesses in the next 10 years, she said.

Similarly, 269 participants are using, planning to use or evaluating chatbots, with 28 percent of those saying the technology isn’t necessary to conduct business. Also, the report mentions that it is important to keep an eye on blockchain just to be prepared for the future.