“The data room is a huge opportunity, even for SMEs,” said one participant at our workshop for multipliers in Nuremberg. The workshop for multipliers held on February 4 in Nuremberg focused on why she is absolutely right and how multipliers can help introduce SMEs to the data room.  

The key questions for the advocates were: What is the data room? What added value does the infrastructure offer? How much effort does it take to connect, and how can advocates provide support?  

After just the first presentation, one thing became clear: there is no question that even small businesses must embrace digitalization if they want to remain competitive. It became evident that the success of digitalization depends above all on how data is shared.  

Unlike centralized platforms, data room participants retain control over their data. While centralized platforms aggregate and control data, data room participants benefit from a decentralized and sovereign exchange. This protects SMEs in particular from dependencies and loss of control.  

The first workshop focused on how influencers can guide their companies on the path to the data room. To begin with, it is worth taking a look at the challenges SMEs currently face. Discussions revealed that SMEs are primarily concerned about their low level of digitalization and the associated costs—both in terms of personnel and finances. And, of course, they too are under pressure from increasing compliance requirements and competitive pressures.  

To prepare for integration with the data room, SMEs want a better overview of tools and technologies: How much IT do they need within their own company? Which tools should they purchase externally? To gain further guidance, they also want practical examples of specific applications and new business models within the data room. Demo versions and test environments that allow SMEs to simulate data exchange via the data room would also be helpful. During the discussions, our SCALE-MX team was able to address many of these needs: Our project offers opportunities to exchange information on use cases, informational materials, and a data room readiness checklist, which multipliers can use to support their SMEs on the path to the data room.  

What better way to visualize the path to the data room than with a simulation game? By examining three companies involved in a fictional supply chain, participants can decide which activities to invest their limited resources in. Should they digitize goods receipt or train the workforce first? There were lively discussions in our group as well—and, uniquely in this session, a resolution: the multipliers are to lead the simulation game themselves in the future. We were delighted to receive so much positive feedback and took away several suggestions.  

The discussions have shown that the data ecosystem offers many benefits to small and medium-sized enterprises as well, particularly when it comes to having full control over their data. Advocates play a key role in communicating these benefits. The first step is to develop a solid understanding of the infrastructure so that they can effectively share this knowledge. As always, the data ecosystem can only succeed if many companies participate, especially SMEs.