Our Modern Commerce Monitor (MCM)TM
obtains and tracks the shift of traditional services for human resources and payroll, supply chain management, finance and operations, customer relationship management, and advertising to cloud-based tools and technology for small businesses.
Wave III-I Highlights
- Businesses continue to shift to cloud-based services. Over the past year, the number of businesses using cloud-based software has increased for every functional area.
- Finance and operations solutions leads the way with a 100% increase from 10% in 2017 to 20% in 2018. That is closely followed by Payroll & HR with and 85% increase YoY.
- Over the next 12 months, shifts will continue with 16% of businesses planning on using CRM cloud- based tools. Another 14% will invest in Finance and Payroll cloud-based tools.
- Almost half (48%) of businesses that have shifted because it saves them time operating their businesses.
- 60% of businesses haven’t switched services because they feel comfortable with what they are currently using.
- A third of businesses (33%) purchased cloud services directly from a website.
- Cloud-based providers or ISPs are viewed as the business of choice. 42% of SMBs stated if they had to select a service outside the core offering from an existing provider they would do it from them vs. other providers.
- Working with one provider is preferred. 65% of SMBs would prefer to work with one provider that could fulfill all their needs.