Small Businesses Becoming Tech-savvy

In todays world, most SMEs in India can do little without the use of technology in all aspects

, whether it is concerning their production, management, finance, administration, distribution or marketing. Technology has become a vital component for most SMEs that helps them to gain a competitive advantage, cope with the pressures to slash capital expenditures and also enables them to stay on the forefront of innovation.

Lifeblood for SMEs

With time, more and more companies are not only recognising the benefits offered by technology, but are also increasingly laying thrust on upgrading their production tools and are resorting to better and new technologies. Cloud computing services, Software-as-a-Service (SaaS) model, Voice over Internet Protocol (VoIP), customer resource management (CRM) applications and virtualisation and network solutions are fast gaining precedence among SMEs.

Realising the significance of having a robust technological base, the willingness to streamline management structure as well as the urge to beat competition by being efficient and innovative are some of the factors prompting SMEs to resort to sophisticated and hot technologies, said S Pathak, proprietor of Neelhard Corporation, a small-sized IT firm in Kolkata.

However, it is not only the need to innovate constantly and enhance productivity that is encouraging SMEs to evolve technologically superior methods of product development, but also the wish to simplify business processes, move up the value chain and improve R&D capabilities is driving SMEs to incorporate technological tools.

Challenging business environment, intensifying global economic conditions and growing competition have made it necessary for SMEs to adopt new and advanced tools that can simplify business communications, said Vikas Baid, proprietor of Surana Power tools, a small-sized power equipment manufacturer in Ludhiana, Punjab.

Multiple benefits of technology adoption have also prompted SMEs to invest heavily in deployment of technologies such as service-oriented architecture (SOA), unified communication and IP telephony, among others.

by: David Parks

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