Small and medium-sized businesses (SMBs) face an ongoing battle to grow in such a competitive landscape. With so many technological advancements and ever-changing consumer demands, adapting to the times is a must.
Collaboration is one of the biggest contributors to the success of a business. In fact, 86% of employees in leadership positions blame a lack of collaboration as the top reason for workplace failures – an alarming statistic that shows just how much communication can make a difference.
In this article, we discuss exactly why collaboration tools are so important, how SMBs can choose the right one for their business, and which tools are the most popular at the moment.
Why Collaboration Tools are Essential for SMBs
In businesses of all sizes, facilitating seamless collaboration can transform the productivity of a workforce.
As small businesses begin to expand and grow their team, new processes are needed to ensure that strong communication is not lost. As more employees are onboarded and departments become more defined, it is easy for gaps to form between teams.
Introducing collaboration tools allows all employees to easily collaborate on projects. In fact, a whopping 70% of employees agreed that improved collaboration positively affects employee productivity – a number that shows just how much collaboration can improve the everyday running of a business.
By cutting out the need for never-ending email chains and miscommunications among employees, everyone being able to centrally collaborate will ensure the team is all on the same page and is up to date on the whereabouts of the project.
Especially in the modern day where many businesses have adopted a hybrid or remote working model, collaboration tools have never been so important. Having the right systems in place to ensure the smooth running of the business means communication between employees is continually facilitated, even among those who are based in different locations.
How to Choose the Best Collaboration Tools
For SMBs that are looking to scale their business, having a good collaboration tool in place is a must. Although change can be an intimidating prospect, especially when there are so many tool options out there to choose from, the benefits are undeniable.
To ensure a business picks out the best collaboration tool for their team, here are a few considerations that need to be taken into account:
- Number of employees; The size of a workforce can impact the effectiveness of a collaboration tool. Although a small team may not require many features right now, if the business plans on growing, having a scalable system in place will ensure the solution is able to grow alongside the business and its changing needs.
- Integration with existing software; When introducing a new tool, it is important that it can work well with existing software to minimise disruption. Once a suitable collaboration tool has been identified, a business should ensure that it is compatible with its CRM system, HR system, accounting system, payment system, and any other relevant software. For example, if your business is sending eWallet payouts to freelancers and contractors, it’s important that the payments system integrates with your team’s communication tools to avoid any double-charges and duplicate payments. This is particularly important if you’re running a business with a high volume of transactions.
- Budget restraints; For SMBs, budget is normally one of the biggest things holding them back from a new collaboration tool. There are countless options out there, each with varying price points, so a business needs to find the solution that suits its needs. Although there are many free and low-cost tools, learning about any hidden costs before committing is important as these can quickly add up.
- Alignment with the current workflow; The collaboration tool a business chooses to implement should be compatible with the current communication style within the team. For example, if documents are regularly shared and worked on by multiple employees, the collaboration tool chosen should help improve these processes.
4 of the Most Popular Collaboration Tools for SMBs
Although there are a huge number of collaboration tools out there, each with different features and target audiences, let’s explore four of the most widely used collaboration tools among SMBs.
Slack
Slack is a hugely popular tool used among businesses of all sizes. It has a user-friendly interface that allows employees to communicate with their colleagues, both one-on-one and in groups.
One of the key features that sets it apart from other collaboration tools is the ability to invite people outside the business. Whether that be clients, freelancers, or other parties included in a project, being able to communicate and share files in one central location can make project management significantly easier.
(Image source: Slack)
Asana
Asana helps teams stay on top of their projects by tracking deadlines and progress. The platform is set out in a way that gives a visual overview of how the project is going – alerting employees to any missed deadlines or hold-ups that may be hindering progress.
For SMBs, Asana is a great tool that combines collaboration with project management. This can be incredibly useful in smaller teams that do not have somebody overseeing the team.
(Image source: Asana)
Microsoft Teams
Microsoft Teams is widely used and remains one of the most popular collaboration tools. Some of the key features include chat functions, video calling, file sharing, and presenting documents.
It is an extension of the Microsoft 365 package and integrates with all of the Microsoft Office apps to make collaboration incredibly easy. For SMBs who already use Microsoft apps, the move to Teams will be a seamless transition that aligns well with their current workflow.
(Image source: Microsoft Teams)
Google Drive
For SMBs who work collaboratively on files, Google Drive makes the process easier than ever. Google Docs, Sheets, and Slides are all stored online and can be shared with others who can either view, comment, or edit the document directly.
With people being able to work on the same document and see changes in real time, businesses can maximise productivity and facilitate collaboration, even if employees are not working from the same location.
(Image source: Google Drive)
Growing Your SMB through Efficient Collaboration
For SMBs who are looking to grow their business and remain competitive in such a rapidly changing landscape, using collaboration tools is a no-brainer.
Finding the tools that best suit the needs of the business will not only improve the running of a project, but is shown to increase productivity and create a more tight-knit team dynamic.