Is digitalisation a competitive advantage for small business owners?

We strongly believe that it is. According to the OP Bank’s recent study, only a third of small business owners think that digitalisation is a competitive advantage for their company. Many entrepreneurs feel digitalisation is a forced necessity rather than a benefit.

The good news, however, is that approx. 80 per cent of small business owners are planning to invest in the digitalisation of their financial administration within the next year. The sad news is that only six percent of respondents are planning to make any significant investments.

Digitalisation facilitates billing and the payment of invoices for example, and many small business owners are using digital banking services. We often recommend that our customers send invoices via their banks. This is also a great first step towards electronic financial management.

OP Corporate Banking Director Heikki Peltola believes that digitalisation can be used to even out the opportunities to find and reach target audiences between big and small companies. According to him, properly utilised, digitalisation gives small business owners countless opportunities to develop their businesses as well as to enhance their daily routines.

If a company has not gone digital, it is usually due to lack of time or inadequacy of their own expertise. Many small business owners also feel that comparing different services is difficult. If you are avoiding the digitalisation of your financial administration due to any of these reasons, please get in touch with us. We will be very happy to assist you!