1 © SMB Group, 2020 Sponsored by December 2020 Authored by Why Invest in Technology in a Downturn2 © SMB Group, 2020 Does It Make Sense for Your Business to Invest in Technology During a Downturn? Some of the specific challenges posed by the pandemic include the following: Revenue hits: 41% of midmarket companies reported that their revenues declined between March and July. Tight cash reserves: 74% said they have less than one year of cash reserves to get through this situation. Shutdowns and new requirements: 24% of respondents had to close their businesses temporarily —and then reopen them under new safety and social distancing requirements. Struggles with staffing volatility: From March through July, 74% had taken one or more actions to trim payroll, including

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