More tools don’t always equal more efficiency
A tool for inventory. A tool for customer engagement. A tool for back office admin. There’s a tool for everything — and with every new need, a new tool gets added. It’s natural to accumulate solutions as you scale. The problem? Many SMBs are struggling to keep up with the number of tools and providers they’re working with. Fragmentation has become the new normal for most businesses. We spoke with SMBs across industries to get a deeper understanding of the common pain points and learn their tech preferences. Read on to see what we discovered.
When it comes to a unified tech stack, only 11% of SMBs say their systems are fully integrated. A third of SMBs have some or no integration, but over two thirds of SMBs would prefer to keep their business up and running with fewer systems.
11%
fully integrated
29%
some/no integration
76%
prefer fewer systems
The instability of stacking tech
Imagine you’re building a tower out of blocks. As you build higher and higher, the tower starts wobbling. Every block makes sense when you’re in the moment, but if the right architecture isn’t there, your tower will topple.
Over 24% of SMBs now use five or more tools, and 7% use seven or more tools. It makes sense when you know most SMBs need solutions for accounting, payments, marketing and email, payroll and even scheduling. Unfortunately, a lot of SMBs add too many tools in response to unexpected growth, and they don’t have the dedicated IT support to untangle their tech stack later.
The hidden cost of tool sprawl
Lost time is a silent killer
Understandably, 60% of SMBs agree managing multiple systems steals time from running their business. And 53% of SMBs say switching between tools causes errors. While your team spends multiple hours per week switching between systems, you could be losing revenue, irritating customers or becoming stagnant.
Fragmentation causes major cracks
The majority of SMBs are only partially integrated and have fragile workflows, while nearly a third have no meaningful integration at all. The disconnect between tools and systems can lead to duplicated data, missed steps and inconsistent reporting.
The cost isn’t just financial
Though 81% of SMBs believe they know their total tech cost, one in five are unsure or only somewhat confident. And 43% report spending more than $2,500 annually on tech. It’s important to note that cost matters, but time and complexity matter more.
A case for replacement over addition
Think back to your block tower. The more blocks you stack, the more likely you are to lose control. Tool quantity correlates with time drain and error rates in the same way. Complexity compounds faster than teams expect, and 76% of SMBs say they’d prefer fewer systems if it meant not sacrificing functionality. The answer isn’t adding more tools, it’s replacing mismatched systems with a unified core.
The way out we promised you…
Less time managing systems. Lower overall costs. You can reach both goals with a fully integrated platform. If you still have concerns, you’re not alone there either.
A single platform appeals to 86% of SMBs and 19% are ready to convert. But some SMBs still have major concerns when it comes to making the switch. Things like perceived cost, disruption during the switch and the reliability and performance of a single platform are major adoption barriers.
How SMBs win with a simplified tech stack
What would you do if you had more time in your day and more money in your pocket? If your sights are set on growth, you’re probably thinking you’d reinvest those valuable resources back into your company.
Over 42% of SMBs say they’d reinvest into marketing, 39% would go for better equipment and upgrades and 27% report using the time and money for innovation initiatives
Those same SMBs say the time and cost savings could change how they do business altogether — freeing up time to grow the business, relieving stress so they can focus more on customers and even allowing them more time for billable work.
The key to unlocking growth is simplicity
The data doesn’t lie. Up to 86% SMBs are open to the idea of consolidating their tools and systems, but only 11% are fully integrated. The fragmentation mentioned earlier is still a reality.
With a unified platform, you’re not just saving money, you’re building your company on a strong foundation. A fully integrated system not only gives you more money and time back, it makes it easier for you to grow on your own terms. After all, it’s not the biggest tech stack that will win in the end — it’s the simplest one.
That’s where Genius™ comes in. It’s our do-it-all platform that combines effortless point of sale solutions with powerful payments. With Genius, less truly is more. Connect with our team to learn more about competitive pricing and the added benefits for SMBs like yours.
Ready to take the first step?
Source: Global Payments survey
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