The SME industry in India is an interesting case. It employs a major chunk of the total workforce in India (40%), yet its contribution to the Indian GDP is meagre (17%). While this clearly indicates the challenges that this industry faces, it is also an indication towards the huge potential that it holds.
As SMEs struggle with challenges like international competition, stringent regulations, unskilled workforce, broken supply chains and more, experts view technology as a key enabler. With programs like Make in India and Digital India getting active, it is now time that SMEs shed their inhibitions and embrace technology with an open heart.
Now, this leads to the question that which technology is good for SMEs? Given the versatility of this industry both in terms of locations, business nature and production methods, it is hard to find one system that would fit all.
According to a report released by NASSOCM in association with Frost & Sullivan, SMEs need solutions that enable operational efficiency and enhance productivity through technology. Automation of processes though cloud based ERP softwares like SAP, tools that provide real time insights and enable faster decision making could help the SMEs in reducing costs and scale their business well.
Per the report, lower investment costs and easy to adapt systems are the key drivers behind increasing adoption of Cloud based or SaaS systems amongst the SMEs. With ERP applications such as SAP Business One now available on Cloud, it has become feasible for SMEs to integrate all business processes into one system, rather than using different independent systems.
It is not just the cost, but also the flexibility of cloud based solutions that is driving the adoption of cloud based solutions in SMEs. The CIOs do not have to worry about data storage and security. With even enterprise applications available on cloud, CIOs can now cut cost and complexities associated with conventional technology solutions.
To top this, the freedom that cloud solutions offer like anytime where access, collaboration, analytics and real time alerts is what makes them a hit amongst IT managers and other business stake holders. Unlike the earlier notion, this technology is easier to adapt and use. It simplifies processes and usage across the board and that’s what makes it a hit amongst the SME CIOs.
with ERP
Trusted by 60,000+ customers worldwide
Nidhi Batra is a marketing and brand communication professional with 10 years of experience working in the dynamic B2B marketing environment. She strategizes, writes, reviews a variety of content for demand generation and sales support activities. Having a Master’s in English from Delhi University, she knows how to navigate her readers on insightful journeys with her SAP published blogs and thought leadership content.
Follow me on LinkedIn to stay updated on the latest industry trends & technology update
We all know how enterprise-ready, mature and robust SAP Business One is for businesses. Many CIOs, CEOs, CMOs, and...
If there is one silver lining during the pandemic moving of COVID-19, Corona Virus, it is the way how...
The construction business continues to grow at a fast pace and is showing no slowdown. The opportunities in the...
Streamline your business processes and improve productivity using our cutting edge ERP solutions & service offerings custom built for small and medium enterprises.
Our e-Governance solutions enable the government to reduce operational complexities and help citizens, businesses & government bodies to leverage technology to access public services with ease.
Our products portfolio comprises of business automation software’ that helps you focus on high-value tasks and improves organizational efficiency by automating repetitive human tasks, process workflows, data capture & decision making.
Get actionable business insights with our cutting edge BI products & consulting services. Make informed decisions and improve business efficiency with real-time analytics.
