Reflect on How we can boost our businesses is one of the great challenges for SME entrepreneurs Today. We recently celebrated worldwide the International Day of Small and Medium Enterprises and it was an opportunity to review what companies are missing today in order for businesses to grow, be profitable and innovative.
It is said that SMEs are the main asset of a country’s productive structure. In fact, they represent around 99% of all companies in the region, being key players in increasing the potential growth of Latin America.
That’s why It is essential that we SMEs force ourselves to look at ourselves projectively on how to grow and how to work in the next five years.We are going through a fatal paradigm shift.
So the question is… what do the growers do, and what can we SMEs take from it?
The first step has to do with professionalizing managementA good read is the book “El salto del Dueño” (The Owner’s Leap), by Paula Molinari, who studied and described the transformation process of the SME organization. It is a text that is already a few years old, but has lost its relevance.
The second is to measure everything that is done and use it as a basis for production and sales decisions.
The third, and most important, is to incorporate digital tools urgently. Those who do not adopt them will be left out of the market, since digital models of expansion and efficiency are key success factors when it comes to lowering production and sales costs.
An example of the latter are the current digital optimization models powered by artificial intelligence. Let’s look at the case of a few: the so-called digital twins (digital replicas of a physical asset, which helps us improve our efficiency by marking errors, in order to optimize); Marketing models with integrative artificial intelligence (AI) (This is data processed in real time by AI, which combines tickets issued for products sold and guides us on how to put together the layout of a store, for example, or manage warehouses with enviable precision)
Two other interesting AI models are the e-commerce platforms with AI engines (the famous algorithms; today enhanced when artificial intelligence engines are applied to them) and the Process management by video analysis applicationwhich are powerful finished product control tools.
The Argentine Industrial Union (UIA) developed the Digital Transformation department to support SMEs from the starting point, the needs and goals of each business.
The conclusion, then, is that these digital platforms are not science fiction. Today they are a reality in companies, which is why SMEs must focus on solving the digital gap, to continue being the main asset of the economic fabric of our country.
Member of the Infrastructure and Industrial Parks department at Uipba, director of the Industrial Parks department at the Industrial Union of Quilmes, director of the La Bernalesa Industrial Park, of Valot SA and of Stratego Business Consulting.
Source: Ambito
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