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15 Feb 2022
85% of Dominican MSMEs accelerated their digital transformation during COVID-19
An estimated 85% of Dominican micro, small, and medium-sized companies have accelerated digital transformation processes as a result of the pandemic, according to a survey by Microsoft. More than 60% invested in technology in the last year, primarily in portable computing equipment (63%), storage and cloud computing (43%), as well as software for collaborative work (43%) and video conferencing (41%). CRM, data viewers, and artificial intelligence are among the technologies in which least investment is planned.
Decisions based on data
The Dominican Republic's micro, small, and medium enterprises contribute more than 38% to the national gross domestic product (GDP) and generate more than 67% of jobs. While these companies invested in technology during the pandemic, data usage also increased. As a result, 87% of respondents indicated that their company makes decisions based on data. Despite implementing technologies and training for a data-driven culture, more than 71% of companies hired data management specialists.
Training and recruitment
Among the most significant changes brought about by the pandemic are changes in the recruitment process. According to the study, 64% of MSMEs hired more diverse workers (gender, people with disabilities, ethnic, and age diversity). It even appears that there is a trend of nomadic talent, since 48% of companies recruited workers who live abroad or in cities other than the company's headquarters, increasing the inclusion of the job offer.
Training is another interesting aspect. More than 90% of the companies have changed the way they deliver training, as well as the content, focusing on digitization and remote operations, with cybersecurity skills being the least implemented.
The opportunities offered by technology are expanding steadily across all sectors. The study indicates that 61% of Dominican MSMEs see a major opportunity with technology, followed by 39% who see an opening to new markets, 29% who see the opportunity to introduce new products or services, and 26% who see a potential cost reduction.
Photo credit: Antonella Vilardo
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