5 out of 10 SMEs in Mexico have a millennial in charge of their administrative or accounting processes

Millennials play an important role in entrepreneurship and the digitalization of business in Mexico, according to a CONTPAQi study entitled "Millennials: the digital generation."

Millennials play an important role in entrepreneurship and the digitalization of business in Mexico, according to a CONTPAQi study entitled “Millennials: the digital generation.”

CONTPAQi is a business and accounting software development company in Mexico. The study of the company reveals that 5 out of 10 SMEs in the country have at least one millennial youth in charge of administrative processes.

The investigation of the company was carried out through a questionnaire raised in Mexico City, Guadalajara, and Monterrey. Small and medium-sized companies specializing in service, industry, and commerce have revealed that seven out of every ten such businesses in the country include digitalization as an integral part of their growth strategy.

“Millennials represent a key factor that drives the digital transformation of SMEs in the national territory,” said Eduardo Pérez, general director of CONTPAQi®, when presenting the study. “It is obvious that technology and innovation are part of the DNA of young people, and that is reflected in their openness to new trends for their workplaces.”

In this sense, “Millennials: the digital generation” divided -in its methodology- to SMEs according to their degree of vision and execution of this resource, Thus, classified them into:

  • Amateurs: with limited digital knowledge and implemented where required by law (32%)
  • Digital explorers: who recognize the talent of digital profiles although there is no specialization (29%)
  • Digital enthusiasts: who make their decisions based on data (22%)
  • Digital leaders: that make up the digital transformation in the entire structure of your company (17%)

In turn, the survey found that millennials see legal problems as the main consequence of a business not being digitized. In fact, for 3 out of 10 SMEs, accounting is the main digitized procedure in their operating processes.

“Here the role played by millennials is fundamental,” said Eduardo Pérez, who commented, in turn, that digital processes – in this type of business – are no longer only of interest for tax compliance (such as the development of electronic invoices) and are already directed towards making them more competitive.

“There is a tangible benefit for companies that add to this trend. For example, they reported growth in profitability of up to 33%, a cost savings of 30%; an increase in market share of 35%; and a rise in sales up to 37%, “said the manager.

On the other hand, one of the results thrown by “Millennials: the digital generation” and that more caught the attention, is that of the generation of employment. The study revealed that 53% of the SMEs surveyed considered that digitalization can help generate new sources of work within their organizational chart.

In this sense, the most mature businesses in digitalization can accelerate the creation of up to 3% of the new sources of work generated – annually – at the national level.

“In CONTPAQi® we are convinced that supporting the digitalization of SMEs, and the young people who participate in them, is essential to boost economic growth in Mexico,” said the executive, who added: “our commitment is to prepare them and make them more competitive, providing products and solutions that benefit them and make them grow. That’s where we all direct our work. “

CONTPAQi is a company in the development of business software that simplifies administrative, accounting, payroll, and commercial processes of growing Mexican companies, to help them strengthen and prevent their disappearance. It emerged in Mexico in 1984 as the first enterprise software company that revolutionized accounting processes in the country.

Its mission is to transform business processes with intelligent tools that allow organizations and professionals to renew themselves digitally, to facilitate them in the decision-making process, to reduce time in the preparation of data for the fulfillment of financial obligations, and to optimize the operation of business, thus facilitating the total focus on productivity and growth.

To meet the needs of each company, regardless of its stage of maturity, it offers 15 solutions to more than 993 thousand users in Mexico, which are scalable and adaptable to micro, small and medium enterprises of 12 of the most important cities: Tijuana, Chihuahua, Hermosillo, Monterrey, Culiacán, Guadalajara, León, Puebla, Mexico City; Morelia, Veracruz, and Mérida.

He is an Authorized Certification Provider (PAC), after periodic approvals from the Tax Administration Service (SAT) that validate having the largest market share and offers free stamp services.