Digitise your business, Diamond Bank tells SMEs

Monday, October 17, 2016

Diamond Bank Plc has called on Small and Medium Enterprises, SMEs, operating in the country to embrace the changing trend in the business world by leveraging technology to boost their businesses.

Ms Njideka Esomeju, Head, Emerging Businesses, Diamond Bank Plc, made the call at the SMEs Business Club seminar organized by the bank in conjunction with HP, Microsoft, Intel and MTN Nigeria in Lagos, to provide tools and insights on how small businesses can accelerate growth using technology.

She stated that taking advantage of technology would give them unlimited access to their target market., saying, "You need to re-brand your business to follow the trend especially taking your business to social media platforms and moving your sales and marketing online."

She said that experience garnered in her years of working with SMEs showed what most small business need was not access to finance but someone that would provide financial advisory services that would help such entrepreneurs better structure their business and make them more profitable.

She said: "Part of our main focus is on Growth", she the bank provides advisory services to SMEs as well help them rearrange and reform their businesses to make it easier for them to access finance. "We advise people to access finance in clusters by borrowing as a group. This facilitates borrowing process and makes it a lot more easier," she said.

Esemeju noted that the bank has developed some online solutions that would enable SMEs take their business to the level of international visibility and listed such tools to include Diamond Mobile App where SMEs can register their business, the Mpos, Diamond Esusu and Diamond Business Advantage, an account designed specifically for businesses.

In his submission, Niyi Ajayi, SME Lead, Microsoft, said that digtisation should be integrated into the business from inception, saying that refusal to leverage technology would leave the business backward.

"Technology can be a major differentiation for your business, but it can seem daunting when you look across your IT - from servers to the cloud, PCs to mobile devices- to know where you should start and how you can transition from what you have now to your new vision.

This is where Microsoft and its ecosystem of partner experts provide something different, offering a unique approach for making the benefits of modern technology a reality for SMEs," he added.