Small and medium-sized businesses (SMBs) are the backbone of local economies, driving growth and employment. In the United States alone, they make up 99.9% of all businesses and employ nearly half of the workforce.
In today’s fast-paced world, SMBs face constant demands, from customer communication (66%) to budget management (50%) and administrative tasks (48%). Generative AI is proving to be a game-changer and Microsoft 365 Copilot is uniquely designed to help SMBs work smarter. By integrating AI into familiar tools, Copilot enables businesses to enhance customer engagement, boost productivity, and streamline operations – whether in the office, at home, or on the go.
Read more: Microsoft Copilot – Redefining Productivity with AI
Beyond efficiency, Copilot also delivers financial benefits. According to Forrester’s Projected Total Economic Impact™ of Microsoft 365 Copilot for SMBs, businesses can achieve a return on investment ranging from 132% to 353% over three years, making AI adoption a strategic advantage.
This blog explores:
- The significant value Copilot brings to SMBs
- The qualitative benefits of investing in AI-powered productivity
- How Copilot for Microsoft 365 is driving impact across businesses of all sizes
- The impact of Copilot on Dynamics 365 ERP and CRM applications
What’s holding businesses back? Some universal challenges hindering growth and innovation
As organizations work to stay competitive, they often encounter challenges that hinder progress. These challenges include security risks and productivity bottlenecks that drain time and resources, keeping teams from focusing on strategic initiatives that drive innovation and impact. Let’s explore some universal challenges that organizations of all sizes face and now AI can help overcome them:
- Keeping up with AI advancements
In today’s fast-changing tech landscape, staying ahead with AI is no longer optional—it’s essential. Businesses that fail to embrace AI risk falling behind within the next decade. To remain competitive, organizations must continuously update their knowledge and expertise in the latest AI developments.
- Security risks from unauthorized tools
The rise of shadow IT- employees using unapproved applications – poses significant security and compliance risks. Without proper oversight, sensitive data could be exposed, and regulatory requirements may be violated, making it crucial for organizations to establish strict governance over AI tools.
- Productivity drains from daily tasks
Employees often lose valuable time searching for information, drafting emails, and managing meetings. These inefficiencies add up, reducing productivity and increasing frustration. Businesses need AI-powered solutions to streamline workflows and free up time for more strategic work.
How can Microsoft 356 Copilot come to the rescue?
By now, we are all familiar with what is Microsoft 365 Copilot. It’s an AI-powered assistant designed to enhance productivity by streamlining work tasks.
With a simple prompt, Copilot generates real-time responses, drawing from both internet-based sources and the user’s accessible work content. This ensures relevant, accurate, and actionable insights tailored to each task. Here is a brief overview of how Microsoft Copilot 356 works:
To use Microsoft Copilot 365, simply enter a prompt in Copilot, and it will generate real-time AI-powered responses. These responses can include relevant internet-based information as well as work content that users have permission to access, ensuring accuracy and context.
Further insights: Experience the power of Copilot in Dynamics 365 and Power Platform
The qualitative benefits of using Microsoft Copilot 365 for enterprises
Forrester’s Projected Total Economic Impact™ of Microsoft 365 Copilot for SMBs highlights the significant impact AI can have on businesses. Beyond enhancing productivity, Copilot serves as a strategic asset for long-term growth and investment. With benefits like a 6% increase in net revenue and a 20% reduction in operating costs, its value is undeniable.
Let’s explore Microsoft 365 Copilot’s benefits in more detail.
Accelerating growth with faster time to market
Bringing new products to market quickly and meeting customer demands efficiently are crucial for business success. According to Forrester, Microsoft 365 Copilot plays a key role in accelerating revenue growth and unlocking new business opportunities.
The study found that:
- 24% of businesses reduced time to market by 16% to 20%
- 27% of businesses saw improvements ranging from 11% to 15%
These gains enhance agility and strengthen market competitiveness.
With Copilot, you can streamline business processes by mapping out workflows, identifying inefficiencies, and receiving AI-driven recommendations for improvement. Share these insights with your team for feedback before implementation. Additionally, Copilot helps keep projects on track by providing real-time updates on progress, allowing you to address bottlenecks proactively.
