The COVID-19 pandemic has come to demand more than ever the implementation of technology in small businesses, whether to automate systems, to reach customers, or to keep employees connected who are not physically close.
Luis Marrero, Oracle’s general manager for the Caribbean region, explains that right now, access to technology is more “democratized” than ever. “Now, all that technology that before was related to large companies and cost millions of dollars, now through the cloud, a service is acquired based on the needs and size of this small company,” he says.
Without giving details of estimated prices for MSMEs, Marrero explains as a benefit the reduction of time on mechanical processes that do not add value to the small company. A good example could be the automation of a low-value expense approval, so that it does not have to go through the owner’s eyes. “…I start to unload repetitive, tedious activities, which makes me more efficient”.
“In a year-end accounting close, if the company doesn’t have a system and has to do all that on paper, this can be long nights for a significant group of people. It can take up to weeks, it can even bring problems with the payment of taxes, bringing fines and additional costs,” he insists.
Oracle’s general manager for the Caribbean region explains four types of services that, generally, are the ones that best fit the needs of small companies, which will always depend on the nature of the operation and its size.
Customer Experience (CX). This tool allows the company to liaise with customers and provide customer care and technical support services.
NetSuite. “One of the things that the company must take care of is its cash, always be in positive and without a financial system that allows you to have your cash flow well established, that you can have your accounting, your invoicing at all times, you can have problems very quickly,” explains Marrero. Netsuit is a cloud-based financial system that allows you to have this control, especially for MSMEs.
Autonomous Database. This is a data system that allows companies to make decisions based on accurate information. Marrero explains that it works autonomously, that is, it has self-control and monitoring, without the need for additional resources from the company.