August 9, 2020

Apps for the digital transformation of SMEs – The Province

TheSMEsthey play a fundamental role in the Spanish economy, they are the axis in which productive investment is channeled and thecreation of employment and wealth.The digital transformation is for these small businesses a necessity, and also a great opportunity, to measure with the larger companies and increase their competitiveness.

Entrepreneurs, like individuals, demand speed in the execution of processes; have simple tools that streamline procedures that until now required physical presence and tedious bureaucratic procedures; immediate financing; Useful functionalities for your business that, of course, can be managed from a mobile phone. It's these solutions,so linked to the digital age,those that already make it possible for many entrepreneurs to have more time to devote to what is really important: managing their business to grow.

According to Gartner Consulting, almost half (49%) of CIOs say that their companies have already changed the model or are in process. SMEs that, at this point, have not made the leap towards digital transformation are at risk of falling behind the competition. On the contrary, those thatthey are incorporating new technological meansand dare to"think big"they have fantastic opportunities before them. A change of mentality is essential and overcome obstacles that, in many cases, are more perceived than real. We refer to the complexity of integrating technology in their business models and, of course, the price.

In this process of change, of leaving the comfort zone, growing and betting on a bright future, Spanish SMEs have an important ally: the banking sector. It is in this context that the birth of initiatives such as theFactory of Business Transformation,in which 300 professionals of BBVA work to put in the hands of their clients innovative and accessible products designed to facilitate those processes that "take away the dream" of many SMEs and freelancers.

Efficiency, productivity and new opportunities

Undoubtedly, financing is one of them. Getting a loan has never been an easy task for small businesses, but with Click & Pay companies can apply for credit with a simple click through their mobile phone. It is about obtaining immediate liquidity for, for example, the payment of suppliers, payroll or taxes. The data stands out, as BBVA points out, that "at present,About 90% of the total money provisions are already digital. "

Other very useful and interesting tools for SMEs are financial aggregators. Spanish companies work with 3 or 4 entities on average so it is evident the great savings of time and effort provided by having an application that allows to combine all the financial products contracted. In addition to the advantage, key for SMEs, to have more control over money. BBVA One View was the first financial aggregator for companies based on data that came to market and "allows you to save an average of two hours a day in treasury management," they say. With this tool and thanks toBig Data,Companies can control all their national accounts, credit accounts and cards in one place, in real time and through any device.

The digital age brings with it solutions that improve the day to day of the companies and that directly impact on the results of the business. The objective is, in any case, to help small entrepreneurs to automate some of theprocesses that are currently usually done manuallyand consuming many resources. A procedure that is usually long and tedious becomes fast and convenient thanks to another pioneering digital tool: BBVA Aval Box. It is a solution that allows, for the first time in Spain, to request, present and consult guarantees in a fully online and with maximum security. "Since its launch, 80% of the guarantees processed through AvalBox have already been requested digitally," they report.

In theFactory of Business TransformationBBVA share the view that while digital transformation is disruptive, it should not be traumatic, but facilitating. In this sense, the entity launched a few months ago a new service of digital point of sale terminals (POS) for self-employed, with the aim of facilitating the work of these professionals, who increasingly provide their services to a client without cash in your pocket. Once you have hired, via web or mobile, the POS that best suits your needs, you will have at your disposal My Business, a tool incorporated into the BBVA app that clearly and immediately shows the total sales generated in one or more stores. It also allows you to filter them by date or see the evolution of them with respect to previous periods. This functionality, available to all customers that have a BBVA POS, offers a global view of the business, since the self-employed can manually add other types of collection, such as sales in cash, fortransfer or through other payment gateways.

SMEs are the backbone of the Spanish economy and must respond to the challenge of digital transformation. It is a process in which taking advantage of new technologies will result in more efficiency, productivity and new opportunities aimed at business success.

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