What is an SMB?
An SMB, which stands for small and medium-sized businesses, is a category of businesses that typically has less than 249 employees and annual revenues of up to $50 million. Collectively, SMBs make up a majority of businesses and, according to Gartner, account for 44% of all business technology expenditures.
Every SMB is unique, however most share some common characteristics. For example, SMBs are typically flat and lean, meaning they don't have the same organizational hierarchy of larger businesses and may not have developed financial resources to draw from. This allows them to be agile and make quick decisions, as well as potentially tough customers to sell to. Additionally, SMBs can be more vulnerable to fluctuations in the economy - a downturn may mean tight cash flows.
SMB's also have unique IT needs and challenges. Limited IT staff means they may not have the expertise needed to support new, complex technologies. Additionally, tight cash flows might mean they are slow to upgrade aging hardware and software.
Vendors wishing to do business with SMBs should keep these characteristics in mind when crafting product offerings.
How NICE can help
NICE is the market leader in providing customers the cloud contact center software they need to deliver consistently exceptional customer experiences. Benefits include:
- All-in-one contact center packages specially designed to meet SMB's contact center needs -- from simple to complex
- Comprehensive reporting to measure contact center operations and to identify and improve performance gaps
- Modern digital engagement channels and ACD providing digital-first omnichannel routing and omnichannel customer journey management
- Integrated and comprehensive quality and workforce management solutions to engage and empower contact center agents to achieve business goals
- Automation & Artificial Intelligence (AI) capabilities to enhance the customer experience and automate routine agent tasks
CXone provides an intelligent, unified suite of applications covering the breadth of contact center management disciplines, simplifying administration and streamlining the user experience.