How MSMEs Can Leverage Technology to Be Future Ready

Updated on: Jun 25, 2022

They are the country’s invisible heroes, playing a pivotal role in helping propel India into a $5 trillion economy by 2025. India’s 63 million MSMEs contribute nearly 29 per cent of the country’s GDP currently. As the nation’s growth accelerator, these small and medium sized businesses that have weathered the pandemic successfully, are now poised to grow even faster in the days ahead.

Resilient and quick to embrace new technology, Indian MSMEs have seen the biggest behavioural change toward tech adoption and usage. A burgeoning internet economy is helping these businesses - be it beauty parlours, auto service stations or path labs - to grow, boost customer engagement and improve employee working experience. There has been a major digital shift in channels for communication, marketing, payments, hiring, and other business verticals.

The change makers

International MSME Day on 27 June is a good time to doff our hats to the tenacity of these small businesses who have contributed to a significant increase in tech adoption since the dawn of the pandemic. Even as internet penetration spreads rapidly through the country, enabling access and digitalisation, reports say that nearly 50% of MSMEs have already incorporated messenger services like WhatsApp and Video Conferencing tools in their regular business operations. Throughout rural and urban India, these enterprises are rising to the challenge of nation building. A Cisco study conducted in 2020 says that SMEs are likely to add $158 to $216 million to the country’s GDP by 2024, through their digitised businesses. As MSMEs start to rise stronger from the aftereffects of the pandemic, International MSME Day aims to recognises the critical role that these adaptable entrepreneurs play in reinforcing local and global economies.

The catalysts

Stronger cloud services, blockchain technology, integration of Artificial Intelligence and Machine Learning are some of the ways in which the digital landscape for MSMEs is changing dramatically. Small businesses are realising that technology can improve company sustainability and performance, and boost overall development of the MSME ecosystem, including stakeholder involvement, marketing, supply chain management and product creation. The integration of technology into daily business operations, with solutions for account management, and consumer engagement, along with digital payment methods is helping them ace the pace of success.

How can MSMEs leverage tech to help business?

While the government is helping MSMEs become self-reliant through a slew of schemes for finance and digitalisation, MSMEs can also help themselves through a better understanding of the ways in which technology can help drive their business optimally. The world has changed rapidly in the last couple of years, and businesses need to adapt to stay on top of the game.

While the office isn’t gone for good, the hybrid model is here to stay. A mobile workspace means businesses need to equip their teams with tools and technology to work securely and productively from anywhere and collaborate seamlessly. This is where holistic tried and tested solutions from Lenovo designed on the Intel® Evo™ vPro® platform and Windows 11 pro for business makes eminent sense for MSMEs. For instance, the Lenovo Thinkbook powered by Intel® Evo™ vPro® platform and Windows 11 pro for business with secure webcams, spill proof keyboards, Intelligent cooling, AI based noise cancellation and hotkeys for apps make sure your team can work effortlessly either from home or office.

Small businesses are also often bogged down by recurring downtime and maintenance issues, eating into large chunks of productivity. Lenovo’s Device Intelligent Systems offer the perfect solution by using proactive device insights and AI-driven predictive analytics to help keep fleets running at peak performance. This means businesses can resolve current and predicted issues, optimize support costs, reduce employee downtime without missing a beat.

Niggling tech issues are often the bugbear of most small businesses, resulting in loss of precious minutes which can translate into loss of revenue for the venture. With Lenovo’s Premier Support, small businesses need look no further as the service offers advanced level tech support, faster resolution and end-to-end case management, with experts from the original equipment manufacturer on call for troubleshooting. Businesses can easily offload all routine support tasks, as well as shift time-intensive problem-solving to an expert team of support engineers, freeing inhouse IT teams to work more productively.

Managing a team of hybrid workers in an evolving world often distracts a business’ IT resources from their digital transformation efforts. Lenovo’s Managed IT Services can step in to provide MSME a comprehensive and scalable suite of flexible options to outsource day-to-day management of IT tasks and functions, freeing up venture drivers to the crucial task of growing the business. To top it all, Lenovo’s solutions and devices, powered by/designed on the Intel® Evo™ vPro® platform and Windows 11 pro for business, allow businesses to reconnect, refocus, and reset, ensuring the business gets back on track quickly.

Working smart to scale business

As the MSME sector undergoes a technological revolution, businesses need to get smarter if they have overcome challenges and scale up to ride the competition. Being clued in to government initiatives like MSME Samadhaan, Udyog Aadhaar and Make in India can go a long way in helping shore capital and gain much needed subsidies for thriving in a competitive market. Along with this, MSMEs need to make rapid and smart tech adaptations that will optimise productivity, enhance employee satisfaction and boost business. Lenovo’s comprehensive bouquet of solutions can help small businesses reach their goals faster. For the smart small business, leveraging technology is the highway to get future-ready!

To know more about services :

This article is part of the sponsored content programme

Published on June 25, 2022
  1. Comments will be moderated by The Hindu editorial team.
  2. Comments that are abusive, personal, incendiary or irrelevant cannot be published.
  3. Please write complete sentences. Do not type comments in all capital letters, or in all lower case letters, or using abbreviated text. (example: u cannot substitute for you, d is not 'the', n is not 'and').
  4. We may remove hyperlinks within comments.
  5. Please use a genuine email ID and provide your name, to avoid rejection.

You May Also Like

Recommended for you