Abstract: Digital transformation has become a critical factor in shaping the future of Small and Medium Enterprises (SMEs), offering numerous opportunities for growth and efficiency. As SMEs across various sectors embrace technological advancements, they gain access to tools that can streamline operations, reach broader markets, and enhance decision-making. However, these enterprises also face substantial challenges, including financial constraints, technological barriers, and resistance to change. This paper explores both the opportunities and challenges associated with digital transformation in SMEs. Through a combination of qualitative and quantitative research, this study identifies key trends in the adoption of digital tools such as cloud computing, e-commerce platforms, and data analytics. The findings highlight how digital transformation has revolutionized SME operations while simultaneously presenting obstacles, particularly in terms of cost, cybersecurity, and skill gaps. The paper concludes with recommendations on how SMEs can better navigate these challenges to fully leverage the benefits of digital transformation.

Keywords: Digital transformation, Small and Medium Enterprises, SMEs, technological adoption, opportunities, challenges, cloud computing, e-commerce, cybersecurity.

Title: The Impact of Digital Transformation on Small and Medium Enterprises (SMEs): Opportunities and Challenges

Author: Mohammad Asif, Md Sobuj Miah, Mst.Jannatul Ferdous Hia, Abu Muslim Jamal, Samia Binte Farid Upoma

International Journal of Novel Research in Marketing Management and Economics

ISSN 2394-7322

Vol. 12, Issue 1, January 2025 - April 2025

Page No: 11-18

Novelty Journals

Website: www.noveltyjournals.com

Published Date: 06-January-2025

Abstract: Emerging technologies are reshaping the business landscape, transforming traditional operations and offering new opportunities for innovation and efficiency. This paper explores the impact of these technologies, focusing on automation, artificial intelligence (AI), cloud computing, customer relationship management (CRM) systems, Internet of Things (IoT), and revenue generation strategies such as subscription models and data monetization. The results indicate that automation has significantly reduced process times by an average of 40%, while AI adoption has enhanced forecasting accuracy by 75%. Cloud computing has led to a 25% reduction in IT costs over three years, and CRM systems have improved customer satisfaction scores by 27%. Additionally, IoT has contributed to a 60% reduction in carbon emissions, and new revenue models have increased business revenue by 12%. The findings highlight the significant potential of emerging technologies to optimize business processes, increase profitability, improve customer experience, and promote sustainability. This paper provides valuable insights for businesses aiming to leverage these technologies to gain a competitive edge in a rapidly evolving market.

Keywords: Emerging Technologies, Automation, Artificial Intelligence, Cloud Computing, Customer Relationship Management, Internet of Things, Revenue Growth, Sustainability.

Title: Emerging Technologies Transforming Business Operations

Author: Meryem Kaaouachi, Shahil Sakib Ahmmad, Shampa Hafsa Akter, Samia Binte Farid Upoma

International Journal of Novel Research in Marketing Management and Economics

ISSN 2394-7322

Vol. 12, Issue 1, January 2025 - April 2025

Page No: 1-10

Novelty Journals

Website: www.noveltyjournals.com

Published Date: 06-January-2025