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.
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