Difficulties and Solutions of Digital Transformation of Small and Medium-sized Enterprises in the Era of Digital Economy

Abstract

The digital economy has promoted the transformation and upgrading of real enterprises. As an important group of innovation, entrepreneurship and employment, the digital transformation of small and medium-sized enterprises is imperative in order to achieve better survival and development. Taking small and medium-sized enterprises in Hangzhou, Zhejiang Province, China, as the research object, a questionnaire survey was conducted on the current situation and problems of their digital transformation. The survey questions include 30 questions, such as the recognition of digital transformation, the willingness of digital transformation, the planning of digital transformation, the performance of digital transformation, existing problems and suggestions, and were analyzed. The survey results show that there are many problems in the digital transformation of small and medium-sized enterprises, such as insufficient awareness, weak foundation, financial difficulties, lack of talents and so on. Based on the above problems, the four dimensional integration path of strategy, technology, process and organization is put forward from the enterprise level; From the perspective of the government, this paper puts forward countermeasures and suggestions such as precise implementation of policies, improvement of finance, strengthening cognition, introducing and educating talents, setting up benchmarks and building ecology, so as to promote the innovation driven and digital transformation development of small and medium-sized enterprises.

Analysis of the Implementation of Digitalization of Financial Statements in Micro, Small, and Medium Enterprises

“…MSME owners with limited resources, be it financial or technological, may find that the investment in the digitalization system is not worth the benefits they expect. They may prefer to use available resources for other things that are considered more important or urgent (Wamba, 2019;Susha, 2021).…”

Research on the Digital Transformation of Financial Management in Small and Medium-sized Enterprises Under the Background of Big Data and Cloud Computing

“…This team should be capable of rapidly collecting, processing, analyzing, and storing data from internal and external sources, while also implementing effective measures for information security. Only a technically adept team can ensure the successful transformation of financial management through information technology [6]. Addressing the challenge of low-quality professional support teams requires a multifaceted approach that combines training, talent management, collaboration enhancement, and a commitment to fostering innovation.…”

“…In contrast, SMEs with high levels of information technology and digital implementation can promptly access and grasp market information, demonstrating a heightened sensitivity to market changes. This enables swift decision support, reduces operational risks, and ensures the sustained operation of the enterprise [6]. In conclusion, the consequences of insufficient emphasis on digital transformation are far-reaching and impact various facets of an organization.…”