Salesforce: new research on SMEs during COVID-19 pandemic
In an announcement made by Salesforce, the company reported the release of its fourth edition of its ‘Small and Medium Business Trends Report’.
In the report the company analysed responses from over 2,300 small and medium businesses (SMBs) in the industry and how the business world has changed over the past six months.
“We’re starting to have those conversations today that we thought we might have 10 years from now. And the platform, and the ability for folks to work remotely, and the ability to quantify the work that’s being done, has made that all possible,” commented Greg Howell, founder and president of Flexo Concepts, a small manufacturing business in Plymouth, Mass.
Three core SMB trends identified by Salesforce
Increased customer communication
With COVID-19 creating increasingly difficult challenges when it comes to meeting customer expectations, Salesforce reports that as a result of safety and sanitation, meeting local health mandates, and offering contactless services challenges, 55% of businesses surveyed are more cautious when it comes to communication with their customers, with almost half expanding their methods of communication.
In addition, more than half of SMBs believe that technology is driving their customer interactions or customer base growth.
Taking action for racial justice
Over the past six months, there has undoubtedly been a rise in calls for racial injustice to be addressed. “Data shows Black SMB leaders in the U.S. are the most likely to struggle to obtain capital, as compared to their peers of other races and ethnicities,” commented Salesforce within its report. “one in three Black SMB leaders in the U.S. said their race/ethnicity has been a disadvantage in running a business, period.”
However in light of this, “45% of SMB leaders in the U.S. say they are taking at least one step to address issues of racial injustice, such as actively training employees on more inclusive practices or having conversations regarding race and diversity.”
Accelerating the use of technology
In addition to harnessing technology to maintain customers relationships, the pandemic is driving organisations to consider new ways that technology can shape the future for the better. In particular, SMBs are “65% more likely to have accelerated their pace of technology investments due to the pandemic. They also focus on three key areas where technology can help: customer interactions, workflows, and internal communications,” commented Salesforce.
Sutherland Healthcare helps digitize human experiences
Sutherland Healthcare is a partner in your quest to achieve the Quadruple Aim of improving patient experience, clinical experience, and health outcomes—while lowering costs. They help optimise the value potential of the technologies at hand, remapping existing processes into end-to-end solutions that advance the art of the possible.
Exposing clients to the value of automation and analytics, Sutherland Healthcare ramps up those capabilities into “service as opportunity” as appetite and ability permit. They free up capital, energy and leadership attention for core competencies and leverage what others can do better, growing their client teams’ skills and capabilities for future success.
“We serve clients from back-office processes, through to the end-of-customer experience and along the way, leverage big data and deep analytics,” said Matthew Collier, CEO of Sutherland Healthcare.
“We bring a deep domain expertise to each industry, particularly in healthcare,” commented Collier who stresses they meet their clients wherever they are on their digital transformation journey. “From the earliest spectrum of outsourcing through to the point of cloud, we can meet them.”
Founded in 1986, Sutherland Healthcare is a global organisation with over 15 locations and 5000+ employees including healthcare development, analytics and data science teams. With an average Net Promoter Score (NPS) of 80, Sutherland Healthcare uses proprietary analytics, omnichannel and back-office platforms, bots and tools. They work with six of the top 10 US health plans and more than 100 health industry clients – from stand-alone hospitals to large health systems and medtech companies.
For 12 years, Sutherland has been a partner of Northwell Health - New York’s largest health system serving 11 million people.
“This has been a true partnership and the outcomes have been really impressive,” said Collier who pointed out the following savings:
- 15 per cent year over year cash collections
- 37 per cent reduction in bad debt
- 18 per cent decrease in average AR days
- 15 per cent increase in our engagement
The company heritage of being a “future-ready organisation” came to fruition during the pandemic. “By having deeply digital technology enabled service in the RCM arena, we were able to flex up and down with demands from clients,” said Collier.
“Most health systems will tell you that their data is a gold mine both for clinical benefit and economic value. A more apt description is that it is like an underground oil field which is not very useful. But by partnering with us we can help extract that oil and put that data in the cloud. We can help to refine that oil using our proprietary data monetisation tools to make that data interoperable.”
“Within the first three weeks of COVID-19 we had everyone globally working from home. A treasure trove of technologies enabled us to do that effectively while safeguarding Protected Health Information (PHI).
“Sutherland is at its heart, a tech enabled services company and that gives us the edge when the best solution is neither a technology or services solution, but rather the hybrid of the two.”