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The Innovation Spotlight

The Innovation Spotlight Newsletter is designed to help you keep up with the latest developments in small business innovation. This newsletter is distributed to you in collaboration with The International Network for Small and Medium Enterprises – INSME, a non-profit Association open to international membership, which acts as a hub of knowledge, a facilitator for alliances, a promoter of networking to encourage international cooperation and public-private partnership among economic players and intermediaries worldwide with currently 93 members from 37 countries.

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How SMEs Can Benefit from Cloud and the 80/20 Rule

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In a recent report by SAP, 96% of SMEs stated they would like to significantly grow their business within the next year. These businesses are often the bulls of the market, adapting a get it all done as soon as possible attitude, which leaves little time for prioritizing. High growth businesses must invest in triaging the challenges on their plate – it is here that cloud computing and the Pareto Rule can help.


Starting with the latter, SMEs need to significantly focus on 20% of their valuable staff, assets, and/or products to create 80% of their company’s profits. In reverse, SMEs must immediately deal with and focus on the challenges that occur 80% of the time. By doing so, management will have more energy on adding value and dealing with the unexpected.
The cloud on the other hand gives a business the advantage to store and share content and documents accessible on the web from any network or device all in real time – providing massive productivity gains to companies. Therefore, cloud not only makes collaboration easy, but also fosters improve alignment between teams and management, as well as encourage innovation.

Read full article » blogs.sap.com/innovation…

 

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