Competitiveness through Digital Transformation

Join Balkan Digital for an Exclusive Online Panel Discussion!

Mr. Vasko Karangeleski, CEO of BRULZ, is part of a regional panel discussion organized by Balkan Digital.

Join the free panel on December 2nd from 17:00 to 18:30 CET for an engaging online panel discussion on “Competitiveness through Digital Transformation” hosted by Balkan Digital. This webinar brings together esteemed panelists from across the Balkans to explore the pivotal role of digital transformation in enhancing the competitiveness of businesses in the region.

The session will address key challenges and opportunities faced by companies on their digital transformation journeys, featuring real-world examples, actionable strategies for SMEs, and advice for leaders driving change. A Q&A session at the end will provide attendees the chance to engage directly with our expert panelists.

Don’t miss this opportunity to gain valuable insights and be part of the conversation shaping the digital future of the Balkans.

Insights from Panel Discussion: Digital Transformation and Competitiveness

Taken from Balkan Digital

On December 2, 2024, Balkan Digital hosted an interactive online panel discussion titled “Competitiveness through Digital Transformation.” The event brought together leading experts from the Balkans to discuss challenges, opportunities, and strategies to enhance the competitiveness of small and medium enterprises (SMEs) through digitalization.

The occasion drew interest, for its guidance to companies dealing with the challenges of embracing change and sharing success stories and insightful discussions to address obstacles, in the process of digitalization.

Key Takeaways

The panelists shared motivating tales of achievement and useful guidance, for medium businesses aiming to navigate the hurdles of change.

Four prominent experts shared their perspectives, the speakers:

Tijana Sekulić (Serbia): A digital transformation consultant with extensive experience in helping SMEs adopt innovative strategies.
Vasko Karangeleski (Macedonia): A strategic consultant with years of experience in sales strategies and digital initiatives.
Teuta Sahatqija (Kosovo): An advocate for digital transformation with expertise in digitizing both public and private sectors.
Velibor Bošković (Montenegro): An expert in digital infrastructure and business strategies.

The event was moderated by Monika Rizovska Tanevska (North Macedonia), Global Director of Women in Tech® and Co-founder of Balkan Digital.

Key Points from the Discussion

Challenges in Digital Transformation

Experts discussed the challenges that businesses encounter in the Balkans region.

Myths about digitalization: Many companies mistakenly believe that having basic digital tools, such as websites or email, means they are digitally transformed. However, true transformation involves a comprehensive change in processes and the adoption of innovative technologies.
Lack of awareness and knowledge: SMEs often fail to grasp the full value of digitalization or avoid it due to fears of high costs and complexity.

Success Stories from the Region

Industry professionals provided illustrations showcasing the ways in which digitalization has the potential to revolutionize company operations.

Serbia: A company developed fleet management software that evolved from an internal solution to a highly successful market product.
North Macedonia: The commitment of organizations such as MASIT and the chambers of commerce, as well as initiatives like the Smart Factory Lab, which increases productivity in manufacturing companies through methods like Six Sigma, or the startup ecosystem that has enabled the development of software products aimed at improving enterprise operations.
Kosovo: The e-government platform EcoSOVA revolutionized the public sector, making services more accessible and inspiring businesses to embrace digitalization.

Strategies for SMEs

Experts gave tips for a transition, to digitalization.

Start with pilot projects: Teuta encouraged companies to test new digital tools in small, controlled environments to minimize risks.
Invest in education: Tijana emphasized that continuous employee training is essential to fully leverage digital tools.
Collaborate with experts: Vasko recommended working with consultants to develop strategies tailored to each company’s specific needs.

Digital Transformation as a Strategic Investment

Digital evolution is seen as a long term investment, than a mere expense according to the panelists who spoke about the advantages of automation and improved operational efficiency in their discussions today.They also stressed the significance of government support and cooperation between regions, in alleviating the pressures faced by companies.

Core Benefits of Digitalization

Process automation: Companies that invest in digital tools can significantly reduce routine tasks and focus resources on strategic activities.
Better decision-making: Digital platforms provide real-time data and detailed analytics, enabling more precise planning.
Sustainable growth: Digital technologies make businesses more resilient to crises and quicker to adopt emerging trends.

Financial Support to Reduce Barriers

Panel members observed that receiving assistance and fostering partnerships with neighboring regions could greatly simplify the stages, for businesses venturing into digital transformation.

Government subsidies and programs:
Governments in the region are encouraged to provide specialized funds and grants to support SMEs. These programs could include funding for new technologies, tax breaks for digital investments, or workforce training initiatives.
Public-private partnerships:
Investments in digital infrastructure, such as high-speed internet and innovation hubs, create a foundation for increased productivity and competitiveness. Partnerships between governments, the private sector, and academic institutions can facilitate access to technology and expertise.
Regional collaboration:
Balkan countries have the potential to develop a shared digital market through exchanging best practices, pooling resources, and supporting cross-border initiatives. This can lower individual development costs and create economies of scale for digital solutions.
Microfinancing and SME grants:
By engaging financial institutions and international organizations, companies can access specialized loans and grants tailored to their digitalization needs.

Shifting the Investment Mindset

The speakers emphasized the importance of companies shifting their mindset towards digitalization to not see it merely as a cost but as a means to boost their edge in the run and expand into new markets while enhancing customer service quality.

Through the collaboration of private funding and fostering connections, among businesses in the region the transition to the digital age becomes smoother for companies. This facilitates growth in competitiveness, for them.

Conclusion

Wrapping up the discussion session the speakers highlighted the recommendations, for leaders;

Embrace growth: Be flexible and open to change. Digital transformation is a continuous process.
Foster innovation: Create a culture where teams are encouraged to experiment with new ideas.
Engage all stakeholders: Open communication with employees, customers, and partners is key to successful transformation.

The recent panel discussion, on digitalization in the Balkans highlighted the opportunities for transformation in the region through collaboration, among stakeholders and ongoing learning initiatives coupled with investments to enhance competitiveness and future readiness.