Small And Medium Enterprises

Over the last few decades, especially since the post-liberalisation & globalisation era, India has experienced tremendous growth of small & medium enterprises. So much so that they are often referred to as the “backbone of the Indian economy”. SME business contribute more than 40% employment and 30% GDP of India and are a key element for India to become an economic powerhouse. This is a very exciting time for the small and medium enterprises in India. However, despite over 35 million units across the country, SME businesses in India are yet to prove their mettle globally. Sensing this gap between opportunity & reward, the Indian Government cluster development programs is working with SMEs to enhance productivity, competitiveness & capacity. SMEs have to do their bit as well. In all fairness, majority of the Indian SMEs have still not fully leveraged technology to their business operations. This is one critical aspect which is keeping them away from getting clients internationally.

The common challenges faced by these aspiring & fast growing small & mid-sized business enterprises in India are:

Digitally inactive workforce
Working capital constraints
Low level of technology adoption
Inefficient and unpredictable support services

Many of the SMEs still follow the traditional way of managing their operations. However, there is only so much that you can do manually. Therefore, SMEs often end up with inefficient supply chain management leading to business losses. Experts attribute the reasons for SMEs being unable to scale up, include resistance to change as well as the fear of failure. However, in many cases Change might seem more important than managing fear of failure.

Is there a way that you can extract more value from your SME business?

Absolutely! However, there are some hurdles listed below that you need to get past: People dependant process, low automation, under-skilled resources, lack of management bandwidth are some of the internal hurdles you need to get past with to take your business to the next level.

Introduce applications & software for tracking and managing business operations:

With software & applications deployment your business operations will not only increase efficiency & visibility in your day-to-day operations but also release more time for you to engage yourself in other business development activities.

In this present day, adopting software with services managing the software for you (SaaS) is no more a luxury but a necessity. In doing so, you will have access to not only build your clean database of business transactions but also have real-time & accurate information for the same. With timely and accurate information, increasing visibility and faster operations, you will be empowered to take effective decisions at a faster speed.

What if I can’t operate or understand how these applications & software will help my business grow?

Gone are the days when these companies will show up at your doorstep, brief on the product, get the program running and leave for you to implement.

Today, software companies like worxpertise not only offer you products but also services of trained manpower to help you maximise your benefits.

Best case scenario: Have them handle all services for you - Is it possible?

Yes, it is and it is a strong support for SMEs as all day-to-day transactions involving your business are taken care of. Also, the pressure of training your people to effectively utilise these solutions or cases of high staff turnover cease to exist. Just email us at smart.solutions@worxpertise.com or call +91 124 685 9200 (India) or +1 315 203 9876 (USA) for a free consultation.