SAP has announced results of a sponsored survey by the Oxford Economics research program revealing findings that overturn some industry stereotypes of small companies. Along with an online press conference, a variety of engaging content illustrating the findings have been made available.
- Read the press release.
- Watch a replay of the press call held Tuesday, July 2.
- View the full presentation.
- See country-specific fact sheets & infographics.
The Global SME Mindset
SMEs are highly engaged in globalization. They are subject to the same trends and economic forces that affect larger companies, and they are mounting a vigorous response to them.
Transformation and Technology
Business transformation has become an imperative for growth-minded SMEs. To compete with global rivals—including larger firms—they must do things differently than in the past. That means adopting technologies that once were out of their reach. It means rethinking business models and go-to-market strategies to enhance growth prospects. And it may mean enduring some growing pains.
Human Factors Determine SME Success
In a technology-dependent global economy, human factors remain critical to success for SMEs. Access to talent and an affordable supply of skilled workers are prerequisites for growth, as is a healthy company culture that focuses on innovation, prepares employees to master the latest digital tools, and fosters confidence in management’s ability to navigate change.
Innovation and Differentiation
Innovation has never been more critical to SMEs. In a global economy driven by increasingly empowered consumers, small and midsize firms must find ways to stand out from their competitors and create tighter bonds with their customers. Technology is vital to success on these fronts, along with a focus on creating new products and services to meet evolving customer needs.