Are SMEs ready for the digital future?

KfW Bank complains that small and medium-sized enterprises perceive digitization as a rationalization project. The University of Applied Sciences Mittelhessen recently classified the degree of digitization of SMEs as “worrisome.” And this despite the fact that the Rheinische Fachhochschule Cologne RFH (University of Applied Sciences) stated that digitized companies generate up to 20 percent more sales. So why the reluctance?

One problem is the complexity of matter. Digital transformation means not only modern technologies, but also new business models, smart products and services. This requires rethinking markets, business processes, customer and supplier relationships in a digital environment. Some medium-sized companies may be lacking in imagination or simply staff and know-how. Others interpret the transformation as a purely technical challenge and leave the by far the most important future project to their sometimes overburdened IT department. The result is partial process improvements and small cost savings. However, this has little to do with a viable perspective.

The COSMO CONSULT Group accompanies companies through their digital transformation. The software and consulting company combines technical knowledge with business expertise and our very own experience. “Digitalization is also changing our market. We have therefore adjusted our business model, expanded our portfolio, and significantly expanded our consulting expertise,” emphasizes CEO Uwe Bergmann. Since then, we now have several working groups in the company who are constantly looking for new approaches and handlings for key issues such as product development, business models or customer centricity. The company now shares the experience of its own transformation with other companies free of charge. “Many businesses run the risk of losing out on digitization because they do not know how to tackle such a project. We want to help these companies with our initiative. It’s about getting started correctly, but above all about helping people along the way to the future. To do this, we need to take their worries and fears seriously, explain the impending change, and inspire about the opportunities of the future. We assist our customers with all their questions and will provide clever concepts, new ideas, and our entire project experience. We can find the right answers to the challenges of the digital age in personal conversations, interviews, and general workshops” affirms Bergmann. The COSMO CONSULT Group initiative is supported by renowned partners such as Microsoft.

A digitization check is the core element. Using an online questionnaire, medium-sized companies can determine their individual degree of digitization in relation to the entire company and individual areas. In addition, a benchmark analysis compares your status quo with similarly structured companies from the same sector. Participants therefore will not only find out where they stand in terms of their transformation, but also whether they have already fallen behind. A newsletter, the company’s own blog, and free webinars additionally provide practical information on the topic. “The Digital maturity level is the ideal starting point for comprehensive digitization consultation. In any case, you can better assess your situation with the result and understand what digitalization is really about,” says Klaus Aschauer, COSMO CONSULT Group Board Member.

However, the digitalization check does not provide a blueprint. “It would be wrong to start with defined concepts and rigid ideas in the transformation process,” emphasizes Aschauer. Instead, the consultants first rely on proven methods to thoroughly analyze and then jointly develop and implement innovative ideas and new business models. The linchpin are the employees. They often contribute the best ideas to the process and bring digitization projects to success. Each company decides for themselves how fast and how far the digital transformation process will progress.

What about digitization in your company? Give us a call or write to us. We will then discuss how we can assist you in the digital transformation.

Further information on the digitization check click here