Small & Medium Enterprises (SMEs) contributes a major share to the Indian economy. They contribute nearly 45% to India’s total manufacturing output and employ around 40% of Indian workforce. But in spite of this, most of the SMEs remain technologically challenged and face problems in survival at global level.
However, with the launch of SMAC technology in India, Indian SMEs are expected to increase cloud adoption at CAGR of 20% between 2012 and 2016. The demand for cloud services by SMEs is particularly high in the areas of disaster recovery, remote database management and e-mail hosting, as discovered during an ASSOCHAM study.
According to a report by NASSCOM, Indian SME can witness an unprecedented growth of 30% by 2020 due to upgradation to latest technology. The report also revealed that SMEs can play a leading role in the adoption of SMAC in India, as it will not only boost their revenue generation but will also increase their target customers. Adoption of cutting-edge technology can bring in operational efficiency and transform customer experience.
SMAC plays an integrated role by providing social, mobile, analytics and cloud technologies to new business models. It offers its customers an optimised cost structure and wide variety of products and services in an engaging, comprehensible, intuitive, personalised and contextual manner.
SMAC technology includes:
Social technologies: With social platforms, the geographic boundaries have become meaningless, as they enable the customers to reach out to a large number of industry participants across the markets and also offer virtual platforms to connect, discuss and exchange views; generating leads and boosting businesses.
Mobile technologies: The launch of Mobile technology has greatly aided the sales of SMEs, enabling them with a wider customer approach. It helps entrepreneurs take wise business decisions from financial to inventory management solutions even on the move.
Analytics: It can be a great tool for SMEs for understanding their customer’s behaviour and review their products by analysing the fast-changing customer needs. By analysing the data collected from Analytics, SMEs can devise right strategies to withstand the competitive landscape of the market.
Cloud technologies: Now businesses do not have to worry about huge upfront investments, in-person servicing costs and issues related to remote servicing of technology solutions. Cloud technology not only safeguards data, but also recovers it easily in case of a catastrophic event.
This is an encouraging time for SMEs to adopt the wave of SMAC technology with defined business strategies across different sectors in India. The few benefits which SMEs are likely to get with the adoption of SMAC include:
Digital Business Model: By leveraging digital technology, SMEs can boost their revenue generation and productivity.
Digital Customer Experience: SMAC offers SMEs a wider platform for digital marketing, sales and services.
Digital Operations: Adopting SMAC can abridge your enterprise’s business operations, as it offers digitally-enabled field force, multi-channel integration and digital R&D.
Digital Workforce: SMAC enables SMEs to hold an efficient workforce by leveraging digital technologies to reach and recruit, for identifying need-based trainings and managing employees.