Increasing adoption of social, mobile, analytics and cloud technologies by the SMEs has set the stage for a rapid transformation of this sector. What is driving this tech wave?
India’s SME sector is one of the primary drivers of its economy. It contribution to the GDP is expected to increase to 20% by 2020. Increasing adaption of technology and digitization strengthening this sector like never before and going by the pace, Indian SMEs would soon hold a string foot in the global business scenario.
As per a report released by NASSCOM, the approximate market growth driven by technology and digitization is about 30% (USD 1 trillion) by 2020.
What is driving this change?
The new age technologies are affordable, integrated and easy to use. They offer a one stop solution for synchronizing and managing different business functions like finance, inventory, sales and more. Making these technologies an integral part of their business strategy would help the SMEs reduce their wastage, track gap areas and take the right decisions in time.
Nidhi Batra is a brand communication specialist at Uneecops. She is an active contributor to SAP Business One community and loves to write on smart and intelligent technology which is redefining business models such as SAP Business One, SAP Cloud, Tableau and Power BI. Having Master’s in English from Delhi University, she follows Gartner and spends her time reading avidly about Artificial Intelligence, SAP HANA, Cloud, DevOps, IoT, robotics and business automation.. Tweets at @nidhi_niya
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