“As we were bringing together all of this learning, we saw how connected it is with this idea of smarter planet. Smarter Planet is now the banner for IBM. The next wave of innovation is all about systems of systems. Why we are so involved with the SME- system of systems is because no single thing, a piece of hardware or software, is really capable of solving the complex business problems faced by organisations of all sizes today. You need to connect the application to the experience of the client.
That can for instance
be a retailer wanting to know what the buying trends of a particular customer may be. All of those are a combination of data that is created and can be turned into information. The current industry mantra is ‘anything available, at any time on any device’- it’s a very simple thing to say but an extremely complex problem to solve.”
One of the greatest challenges IBM
has faced is convincing
SMEs of the value they can bring to any size of business and Andy Monshaw is a man determined to engage SMEs. “There’s little doubt that IBM tends not to be the first company you think of when you are a small startup, solepreneur or an entrepreneur and I constantly hear that people think we are too big for a company their size.”
So, about 2 years ago, Monshaw took a team of 1000 experienced and dynamic staff out of central IBM and placed them in a unit called Midmarket, an experiment that has enabled him the flexibility to reflect the needs of SMBs. “We have got incredible freedom of movement. I spend about 20% of my time just in the entrepreneurial space. Working with VC’s and startups almost every week. Not only are these entrepreneurs the engines of the smarter planet but also what applies to one applies to many. The more I can understand
36 entrepreneurcountry
what they’re thinking, the more we can react and meet their needs. So for example, things like the ability to access to intellectual property came from entrepreneurs on the ground”.
“There is a huge eco-system that is involved in SMEs. First movers are often entrepreneurs and they can connect into these systems of systems in a really meaningful way.”
Financing is one of the biggest challenges limiting the success of SMBs today.
Small Business
Administration (SBA) consistently reports that well over 50 percent of small businesses fail within their first five years due to lack of capital. Since this segment is responsible for nearly 65 percent of global GDP, representing more than 90 percent of all businesses and employing more than 90 percent of the world’s workforce, SMBs play a critical role in a global economic recovery.
“What do these types of businesses
need? They need access to credit- it’s the number one need out there at the moment. We announced, September 9th, that we were putting $1bn dollars into small and medium business for credit qualified companies so they can get almost immediate turn around and access to credit capital. It’s a really important value attribute and very simply it’s cheaper, better, faster than anyone in the industry. We have a huge financing portfolio and we are able to offer the industry’s best rates. We’ve developed tools and capabilities with business partners to turn around credit applications is literally minutes.”
One of the biggest growth areas is in cloud computing services where IBM are not only leading the way in the provision of cloud to SMEs but also as Andy says, “they need access to computing power so we have what is called smart cloud which is all about opening up the test and development.”
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