It’s no secret that corporate giants like Walmart, Amazon, and McDonalds benefit from huge IT budgets, and advanced technology solutions. They use modern technology to parse through data to make better business decisions. Walmart reportedly invested $600 million in its point of sale (PoS) system, much to the dismay of small businesses that were already struggling to compete.
In 2009, glassblower James McKelvey lost a $2,000 sale because his shop, like many, didn’t accept credit cards. He and his friend Jack Dorsey knew that there had to be a way to make credit card processing easy and accessible for small businesses. Their cloud-based transaction startup, Square, is now estimated to be worth more than $4 billion — and thousands of merchants around the world are able to process credit card transactions.
Arguably, small and medium-sized businesses (SMBs) have the most to gain from the cloud.
Cloud based software as a service (SaaS) platforms are increasingly democratizing a wide range of business operations. Many small businesses already use third party SaaS software to manage their payroll, health care, and front office functions.
For most businesses, having a web presence is no longer optional—but creating and managing a website often requires technical skills and the time and budget to do it correctly. Services like Squarespace and Wix make creating a customer-facing website almost effortless for Mom and Pop.