airSlate – a leader in document workflow automation solutions – announced that it had released new research that reveals that small and medium-sized businesses (SMBs) are ready to tap into the power of automation and artificial intelligence (AI) to scale and compete effectively in today’s business landscape.
The company’s research -presented in a report called “Tech-forward and thriving: How SMBs are primed to embrace automation and supercharge productivity,” proves that the adoption of automation technology acts as a dynamic catalyst, shaping strategies, growth trajectories, and competitive capabilities against more resource-robust peers.
The survey of over 1,000 U.S. SMBs, conducted by Propeller Insights on behalf of airSlate, suggests that investing in the right business technology solutions and streamlining a tech stack are essential to an organization becoming more productive. Even though tapping into a range of tech solutions, SMBs agree business productivity solutions are the most pressing, which is why document workflow automation and e-signature tools are a priority.
With an estimated 30 million SMBs in the U.S., finding one’s competitive advantage is essential. And with over 99% of U.S. businesses categorized as SMBs, the cohort has an extraordinary opportunity to influence and shape the future of automation.
SMBs are seeking purpose-built and cost-effective tech solutions to optimize their operations, with ease of use and affordability as major considerations when making purchase decisions. Over half of the survey’s respondents are considering switching from their current document automation solutions in search of better value. And they are focused on investing in quality over quantity and streamlining their technology stacks.
airSlate’s research revealed:
1.) SMBs prioritize business productivity solutions such as document workflow automation and e-signature tools.
2.) A significant shift from traditional wet signatures to digital signatures, with two-thirds of respondents already using digital signatures in business operations. And this reflects a growing trend and newfound trust in digital signatures as a secure and safe way of signing documents electronically.
3.) Customer relationship management (CRM) solutions have been gaining importance among SMBs, with 97% of respondents viewing them as crucial – a recent development as CRMs were viewed as predominantly geared toward enterprises with abundant resources.
Automation Benefits
The majority of SMBs are optimistic about automation and its impacts, especially time and cost benefits. They believe that human interaction remains vital, with less than 15% concerned about job displacement.
1.) Survey respondents have an appetite for a 4-day work week, with 66.1% saying the number one benefit would be improved work-life balance. And benefits include increased productivity, cost savings, and enhanced talent recruitment and retention.
2.) Currently, finance and sales teams are the two verticals that find document automation and e-signature solutions most important to their success.
3.) 44% of finance and 41% of sales teams surveyed see document workflow automation and e-signature solutions as critical.
Low-Code/No-Code Potential
Even though low-code/no-code tools are gaining popularity, over half of SMBs have yet to explore these document automation tools. And adoption typically occurs through external tech collaborators or internal “citizen developers.”
airSlate provides a suite of no-code products designed to streamline document workflows and democratize access to automation, including airSlate Workflow, airSlate SignNow, pdfFiller, DocHub, US Legal Forms, Document Automation Hub, and signNow API. And airSlate Academy provides free courses to support automation mastery.
KEY QUOTE:
“Success today hinges on an SMB’s ability to employ highly productive, automated solutions to compete with larger, often better-resourced companies. SMBs understand their customers expect a seamless, automated experience to drive their interactions, as do employees. But technology for technology’s sake is never a good solution, and our research indicates that SMBs need purpose-built solutions to help them grow and scale at a sustainable but significant level. The proper tools are necessary to achieve optimal business outcomes.”
— Shawn Herring, airSlate’s CMO
