Modern Commerce Monitor Wave IV-I Topline Results
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 IV-I Highlights
Since 2016, the number of businesses utilizing cloud-based software has increased 180%. Today, 55% of SMBs utilize at least one cloud-based service to manage a critical business process on a monthly basis.
Finance, operations (+157%) and supply-chain services (+90%) lead the way in growth over the past few years.
The trend isn’t expected to stop. 49% of non cloud-based service users are expected to try a service and 65% of existing users will get more services over the next 18 to 24 months.
Top growth areas include Marketing (40%) and CRM services (39%)
Businesses that are driving growth tend to have younger decision makers, are in early business life
stages, have employees and are looking for ways to acquire, retain and serve customers better.
SMBs stated they have not made the move to cloud-based tools because they are happy with what they have (45%) or don’t know about new services that can help them (36%).
Around 60% of SMBs stated the cloud-based tools performed better than expected. CRM & Marketing had a number of poor ratings.
