How technology is to influence Small and Medium Business Sectors in India
Very recently India’s premier IT and BPO industry regulatory body NASSCOM conducted a survey to analyse the state of Small and Medium Business enterprises (SMB) in India. The purpose of the survey was to determine the level of automation and software adoption amongst SMBs operating in the country. The results of the survey seem quite exciting for the software development market. Let us take a look into some of the excerpts:
Nearly 82% of the companies surveyed, were expecting positive growth of around 15 to 20 % in their business over the next 2 years. On the flipside, the survey pointed out that even though 90 per cent of SMB’s had knowledge about business software applications that can be utilised by them via Laptop’s and Desktops, only 64 % of the lot have implemented it, leaving a considerable gap in the use of software technology amongst small and medium enterprises.
A large section of such companies rely on newspaper editorials for accessing information about the market which is very primitive considering the market analysis tools available today. Besides they even opt for direct sales and marketing towards the customer rather than exploring new channels like content marketing, social media presence, etc.
All of this points towards a growing need of applications specific to SMBs.
SMB’s are sure to be the driver of the economy in future and should definitely use insights from the survey to improve their tactical and technological competence for a sustained growth.