SAN FRANCISCO, Jan. 26, 2022 (GLOBE NEWSWIRE) -- As small business owners across the U.S. struggle to find the workers they need, new research commissioned by PandaDoc, the leading all-in-one document workflow automation platform, reveals that nearly half of small business owners are taking on five or more roles at their SMBs, from operations and administrative support to HR, customer service, accounting and sales/marketing. A whopping 83% of SMB owners generate all of their company’s important documents whether it be a sales proposal, new hire form or NDA.
PandaDoc’s latest survey highlights the imperative for SMBs to shift to digital solutions. When asked to list the top hurdles their businesses faced through the pandemic, 48% of business owners and managers mentioned generating revenue, and another 44% mentioned maintaining access to clients/vendors.
As SMBs navigate the massive changes that took place over the past two years, from pandemic protocols to labor shortages to distributed workforces, business owners and managers alike are looking for all-in-one solutions to drive flexibility, efficiency, innovation and responsiveness. PDFs and word documents are no longer viable options, with collaboration and turnaround times subject to workplace disruption. More and more businesses are transitioning to a paperless workflow to take advantage of the simple, sophisticated all-in-one solutions that easily manage the creation, editing and signing of documents.
According to PandaDoc’s research, 68% of SMBs are leveraging digital documents. However, the survey also discloses close to 6 in 10 (57%) of owners believe creating digital documents require a special skill, with 53% acknowledging they’re only somewhat comfortable with the process and 44% reporting they are intimidated by a digital document workflow–despite the trending global shift to digital solutions.
“Small business owners wear many hats, and changing the way a business operates to alleviate stress and free up time doesn’t have to be daunting,” says Mikita Mikado, CEO of PandaDoc. “All-in-one digital document workflow solutions, like PandaDoc, help to make this transition seamless, foster innovation and improve productivity and efficiency for SMB owners.”
The survey highlights:
- A third (33%) of SMB owners would prefer to be spending time on new business development rather than document creation/management.
- Cost savings are also key for small business owners: 64% feel they could save up to $5,000 per year if their document creation process was automated.
- Saving time and boosting efficiency are also critical factors; 31% feel these are a digital document workflow’s greatest benefits
“With the relentless spread of COVID, piggybacked with labor shortages across most industries, small business owners are struggling,” says Mikado. “Moving from a legacy, static-based document process to a digital document workflow can help SMB owners meet the challenges of today’s workplace environment, simplify operations and help make better use of their time, such as for new business development.”
To learn more about how PandaDoc provides a competitive advantage to SMBs, visit www.pandadoc.com.
Methodology
The third-party research cited in this release was conducted by Propeller Insights and PandaDoc to assess SMB owners’ use of digital document creation and collaboration, and the challenges of being a SMB owner. The study took place in December 2021 and surveyed over 1,000 professionals at businesses of varying sizes and industries.
About PandaDoc
Since its founding in 2013, PandaDoc has been on a mission to empower growing businesses to thrive by taking the work out of document workflows. PandaDoc provides an all-in-one document workflow automation platform with eSignature capabilities. PandaDoc helps fast-scaling teams accelerate the ability to create, manage and sign digital documents, including proposals, quotes and contracts and more. More than 30,000 customers are using PandaDoc to improve document workflow, insights and speed while providing an amazing experience for the end users. PandaDoc is backed by leading venture firms and corporate investors, including Altos Ventures, Rembrandt Venture Partners, One Peak Partners, M12 (Microsoft), and HubSpot. PandaDoc is proudly a remote-first global company.
Media Contact:
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