What Really Matters To Small Businesses These Days?

Saphyte Team

2 min read

Updated: September 7th, 2020

We might not appreciate small to medium-sized enterprises (SMEs) very much but according to statistics, SMEs have a remarkable ability to fuel economic growth. In fact, in Asia, SMEs are the backbone of the economy. They comprise 66% of the national labor force on average and brought about 30% of the total export value in Asia from 2007–2012. 

Unfortunately, during the COVID-19 pandemic, SMEs were not exempt from the economic recession. According to a survey done by Facebook, 31% of SMEs have already shut down in the past 3 months. And another study done by Goldman Sachs survey showed that 50% of business owners think that they could not continue their business operation. 

These statistics were quite alarming and this brings us to ask, “what do small to medium-sized enterprises (SMEs) and startups NEED in order to help their businesses thrive?” This question can lead to many answers but, in the situation that is now our new normal, the only way to make things possible, is to adapt. 

In this new normal, let’s take a look at some obstacles SMEs might encounter and how CRM with Saphyte can help them navigate through this crisis. 

Decrease in revenue

Given that almost everyone on the planet is affected by the crisis one way or another, it is expected that most SMEs have experienced a decrease in revenue. But, on the other hand, if we adapt to this new normal, businesses have the opportunity to view this from a different perspective. With so many people staying at home, it means that they will spend more time on social media. 

With the advent of CRM, Saphyte can help you manage your social campaigns. With Saphyte, you can easily integrate and manage all your social media marketing campaigns from different social media platforms. While the system automates these tasks, owners can then focus more on customer relations, such as providing personalized feedback to inquiries and so on. This in effect would lead to higher customer satisfaction. Higher customer satisfaction means higher customer retention, which would ultimately grant SMEs an increase in revenue. 

Sales management 

Sales management is very important when cash is starting to flow into the business. Perhaps during the start-up phase cash flow can be easily monitored, but when more revenue comes in, a systematic and organized system for sales monitoring is a must. 

Here at Saphyte, we have all the tools that you need. CRM allows you to easily monitor your sales and deals progress via the customizable dashboard. The system also has a sales forecasting and sales intelligence feature. This feature provides realistic forecasting, which helps you to make intelligent business decisions. Moreover, it gathers all information related to a client, so that you can come up with your next best action to improve your sales. 

Human Resource Management

Because of the pandemic, most employees are forced to work remotely. Without being able to communicate face to face, misunderstandings might arise and this leads to the business failing to reach its goals.  

Saphyte can easily bridge the gaps between each company’s personnel and can help SMEs manage their teams efficiently, despite working kilometers away from each other. The system allows fluid communication and reporting. 

It can also store media files to the CRM so that your employees can easily access them online. You are able to create roles within the employee teams, enabling you to implement authorization and restriction for each employee, thus providing flawless organizations within your business. 

Conclusion

This new normal has led the world into confusion, but if we continue to adapt and face this challenge head-on, the economic recession can still be prevented through boosting SMEs, along with the help of CRM, provided by Saphyte.