SME (Small-to-Midsize Enterprise)
A small-to-midsize enterprise (SME) is a business that typically has fewer than 250 employees and less than $1 billion in annual revenue. SMEs tend to be more flexible and agile than large corporations. They also have fewer overhead expenses and greater ability to adapt to changing market conditions or other challenges that arise over time.
What Small and Midsize Businesses Need to Know About SME (Small-to-Midsize Enterprise)
Some of the benefits of working with SMEs, instead of large corporations, include more flexibility and agility, lower costs, faster innovation cycles, knowledge sharing across departments or teams, better customer service, and faster time to market. SMEs are also better at taking risks and trying new things, thus promoting innovation and creativity.
Related terms
- PDM (Product Data Management)
- Project Management
- Gain Sharing
- Small and Midsize Business (SMB)
- Business Process Automation (BPA)
- Human Capital Management (HCM)
- Best Practice
- Business Process Management (BPM)
- Business Impact Analysis (BIA)
- Track And Trace
- Digital Business Transformation
- Bimodal
- Span of Control
- Solution
- Business Process Re-engineering (BPR)
- Enterprise Solutions
- Growth Strategy
- Project Management Office (PMO)
- Business Process Outsourcing (BPO)
- Line Of Business
