CFOtech Australia logo
Technology news for Australian CFOs and financial decision-makers
Story image

SMBs getting better at digital engagement - Deloitte

Mon 12 Aug 2019
FYI, this story is more than a year old

Australia’s small business sector continues to adopt, and reap the benefits of, digital technologies.

Engagement is higher than ever and accelerating.

New analysis on digital uptake has been conducted by Deloitte Access Economics for the Federal Government and its Small Business Digital Champions Project.

The research findings have been compared to previous editions of Connected Small Business research conducted for Google in 2013, 2016 and 2017, which utilised similar methodologies.

Business digital engagement was classified into basic, intermediate, high and advanced levels based on business’ reported the use of varying social media, websites, marketing and data analytics tools.

Key findings include:

  • For the first time, over half of small businesses (55%) have achieved ‘high’ or ‘advanced’ levels of digital engagement in 2019, up from 39% estimated in similar research in 2017
  • Small businesses moving from basic to advanced digital engagement see a 60% increase in revenue per employee and on average earned 28% higher revenue growth in the last 12 months
  • The most commonly cited barrier to small business digital engagement is cost
  • 51% of businesses with basic levels of digital engagement don’t understand the potential benefits of digital engagement
  • More businesses are using social media for their online presence before establishing a business website.

Minister for Employment, Skills, Small and Family Business Senator Michaelia Cash says the Digital Champions project is one of many initiatives that demonstrate the Morrison Government’s commitment to help small businesses grow, prosper and create jobs for Australians.

“By sharing the experiences of our 15 Digital Champions, we are putting digital transformation on the agenda of every small business and helping them to learn the skills and build confidence to embrace digital opportunities,” Cash says.

“We want to help more small business owners utilise technology to grow their business because we know that when our small businesses prosper, the economy thrives and every Australian benefits.”

Deloitte Access Economics partner John O’Mahony says, “Small businesses with less than 20 employees make up 94% of all businesses, with over 2.2 million small businesses across Australia in June 2018.

“Digital offers so many benefits for our small business sector, and the national economy, from revenue growth and job creation, to innovation and export potential.”

“Different businesses will engage with digital in different ways, but to do so only a basic or intermediate level, risks lost opportunity, stagnation and even failure in the face of competition.”

O’Mahony says that compared with similar research conducted in 2017, the latest survey revealed an acceleration in the growth of digital uptake among small businesses with less than 20 employees.

“This year, 55% of businesses have ‘high’ or ‘advanced’ levels of digital engagement across the likes of web presence, use of online marketing methods and using data analytics to inform decision-making.

“Small businesses mostly understand the benefits of digital, and it’s the movement from basic to advanced digital engagement that can really deliver revenue and growth benefits.

“One measure of this is revenue per employee, and advanced digital uptake results in a 60% increase on this front, and relative to businesses with basic levels of digital engagement, those with advanced levels on average earned 28% higher revenue growth in the last 12 months.

“It’s concerning that over half of the businesses with basic levels of digital engagement don’t fully understand the benefits of digital engagement,” says O’Mahony.

“Further investment required to move to a more advanced level would be an issue for some, and not being able to see benefits beyond the short term could also be seen as a disincentive,” he adds.

“But the evidence is clear that even small, incremental steps can deliver real and enduring returns.

Related stories
Top stories
Story image
Artificial Intelligence
SAS announces new products amid cloud portfolio success
Analytics and AI company SAS is deepening its broad industry portfolio with offerings that support life sciences, energy, and martech.
Story image
Customer experience
Research unveils precarious customer loyalty for retailers
New research has found customers are reassessing established brand loyalties as their priorities and behaviours shift.
Story image
Digital Transformation
Trading up: It's time to swap core systems for flexible digital applications
This year will see more oranisations planning and commencing high tech renovations that will shake up the way they operate.
Story image
Attain
Revenue operations is taking centre stage
As the business world continues to evolve, new demands need to be met to keep up with the ever-changing landscape. 
Story image
Employee Retention
Company values increasingly important in post-pandemic world
New research released today reveals that company values are the new currency when it comes to employee retention in a post-covid economy.
Story image
Wasabi Technologies
Wasabi opens new cloud storage in Australia with Equinix
Wasabi Technologies has opened a new hot cloud storage region in Sydney, Australia, using Equinix services. This is the company's 12th global storage region.
Story image
Training
HubSpot launches 'The Great Upskill' week to inspire learning
Brands across APAC including Google ANZ, MessageMedia, Meltwater, Seismic and Aircall, will give their employees a full workday to dedicate to upskilling.
Story image
trust
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."
Story image
Ransomware
A third of companies paying ransom don’t recover data - report
Veeam's report finds 76% of businesses who are victims of cyberattacks paid the ransom to recover data, but a third were still unable to get their information back.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Artificial Intelligence
SAS launches human-focused responsible innovation initiative
SAS has launched a responsible innovation initiative, furthering its commitment to equity and putting people first.
Story image
SaaS
Atturra partners with Focus HQ to support Aus organisations
Atturra has executed a partnership agreement with Focus HQ, to resell and support the company's Australian developed SaaS-based portfolio management platform.
Story image
Artificial Intelligence
CFOs using digital workers and AI to prevent unnecessary loss
New technology is now allowing CFOs to use digital workers to automate their accounting processes, making it easier for them to avoid unnecessary losses.
Story image
Adyen
Adyen expands partnership with Afterpay as BNPL payments increase
Adyen has expanded its partnership with AfterPay allowing more of Adyen’s merchants in more countries worldwide to use the BNPL provider.
Story image
Amazon Web Services / AWS
Databricks strengthens AWS partnership with new Lakehouse offering
Customers will experience faster onboarding and unified account administration to make building a Databricks Lakehouse on AWS easier.
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Cybersecurity
Three key security challenges facing the Australian insurance industry 
Insurance companies must ensure they proactively address security challenges and protect the privacy of customer data.
Story image
SAS
New SAS service overcomes subscription fatigue for media companies
SAS has launched SAS 360 Match which helps media companies move towards a AVOD model to generate revenue as subscribers cancel.
Story image
Employee Experience
Zendesk launches customer service and employee experience offering
"Zendesk is helping businesses embrace this new generation of conversational customer relationship management and turn customer service into growth.”
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Alteryx
Decision Inc. Australia enters partnership with Alteryx
Independent data and analytics consultancy Decision Inc. Australia has partnered with automated analytics company Alteryx, expanding its offering to clients.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
Fintech
Airwallex launches new bank feed integration with NetSuite
Airwallex has launched a new bank feed integration with NetSuite, developed in partnership with NetSuite solution partner, Onlineone.
Story image
Jabra
Jabra investigates what makes an ideal hybrid work model
“The way we work has changed forever and the current state of knowledge work requires access to digital platforms and technologies to be successful."
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Microsoft
Microsoft unveils adaptive accessories for disability access
Microsoft is introducing an expansive Inclusive Tech Lab to give people with disabilities greater access to technology through new software features and adaptive accessories.
Story image
Artificial Intelligence
ForgeRock releases Autonomous Access solution powered by AI
ForgeRock has officially introduced ForgeRock Autonomous Access, a new solution that uses AI to prevent identity-based cyber attacks and fraud.
Story image
SaaS
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Telstra
Telstra, Google and Accenture launch 5G AR experience for AFL
Telstra, Google and Accenture are developing a new 5G powered augmented reality (AR) experience at Melbourne's Marvel Stadium for the footy season.
Story image
Digital Transformation
Unlocking the next digital frontier for educational institutions
Understanding where to invest in technology can be challenging for education institutions, especially after the COVID-19 disruptions.
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.
Story image
Kodari Securities (KOSEC)
NFT trends and opportunities: expert reveals all
The NFT market is growing at an exponential rate, with unprecedented liquidity. Here we explore how businesses can profit.
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Remote Working
How organisations can meet employees' changing expectations
The global employment market has shifted dramatically in favour of employees, sparking the so-called great resignation, in which people are leaving unsatisfying roles in search of greener pastures.
Story image
Data
Aussie data & analytic execs not confident in data strategy
Less than half of Australian data and analytics leaders are confident in their data strategy as siloes and lack of culture prevent innovation.
Story image
Sisense
Data and analytics could be key to higher selling prices in APAC
Sisense's latest report has found that almost half of data professionals in APAC think customised data and analytics can create better selling prices for their products.
Story image
Testing
Google and CSIRO use AI to help protect the Great Barrier Reef
Google has partnered with CSIRO in Australia to implement AI solutions that help protect the Great Barrier Reef.