Barclaycard Payments issues tech procurement guidance
New data from Barclaycard Payments shows that a third (33%) of UK SMEs are investing in tech as part of their post-pandemic recovery plans.
However, investing in technology – particularly for a small business – can be a complex task. In response to its findings, Konrad Kelling, Barclaycard Payments’ managing director for Small Business Payments, has pulled together top tips on how SMEs can get the best return from their tech investments. They are:
- Choose specialists with a strong track record
Research is key. Spend time talking with contacts in the industry and reading trade media to understand which technology providers specialise in your particular vertical sector. The company you choose should ‘get’ what it’s like to be a small business in your industry.
- Prioritise integration
Technology in isolation can only take you so far. A modern business needs different solutions that integrate with, and complement, each other. That’s why, at Barclaycard Payments, we ensure our products and services can work in tandem with others – for example, we have partnerships with invoicing and accounting software such as FreshBooks, and ecommerce platforms such as BigCommerce.
- Think about the long-term
As we’ve seen during the pandemic, the right technology solutions can keep small businesses afloat when times are challenging. However, our advice is to not only buy for today, but also for tomorrow. Think about the technology you might need in three, five or even ten years’ time, and get the building blocks in place for the next phase of your growth.
