Digital transformation is a crucial part of improving the economic situation in South Africa.
Vodacom has been at the forefront of technological innovation in South Africa for many years, and the company’s business unit continues to empower SMEs to optimise their business processes using efficient technologies.
“Digital transformation has the potential to ignite the growth of businesses, corporates and SMEs alike, and the ICT industry realises and understands the benefits that businesses will gain access to in the digital era,” said Fatima Hassim, Managing Executive of Vodacom Business.
Hassan said that South Africa has about 1.2 million SMEs, but about 70% of South African SMEs fail within their first 2 years of existence. This failure is primarily due to fundamental issues such as financial management resources and administration.
To solve this problem, SMEs need to embrace digital transformation, said Hassim, as this will allow them to keep up with the times and keep their customers satisfied.
“SMEs can undergo digital transformation in two ways, either by transforming the business into a digital organisation, or by transforming the aspects or offerings of the business digitally,” said Hassan.
“One is about digital technology usage, whilst the other involves the business transforming digitally.”
Vodacom Business has therefore focused on diverse, hybrid, and integrated solutions to drive digital transformation throughout the SME sector.
“By focusing on increasing the service layers, we can ensure that the benefits of these investments can be felt by both the mobile operator’s consumers and enterprise partners.”
To assist SMEs in engaging with digital transformation, Vodacom Business is running the Fast Forward series – a deep dive into digital transformation targeted specifically at SMEs.
The Fast Forward Series is run in collaboration with various partners, including Samsung, Business Doctors, WeAreMonsters, Google, and Facebook.
“Our objective here is to create an environment that will address key enterprise challenges – focusing on helping them to develop strategies to survive and thrive in today’s digital economy,” said Hassim.
The first iteration of the series will be split into two parts – the Growth Hacking workshops, and the Business Acceleration workshops.
The Growth Hacking workshops are run by WeAreMonsters, and will see 30 SMEs engage in a three-part, eight-hour workshop. Following the completion of the Growth Hacking workshop, each SME will receive an in-depth evaluation and plan of action for their business.
The Business Acceleration workshops are run by Google, Facebook, and Business Doctors, and will engage with 30 SMEs per session, equipping them with the tools and knowledge to evaluate their business health, as well as ways to improve their business processes while leveraging Google and Facebook optimally.
This article was published in partnership with Vodacom Business.