Digitalisation surges among SMEs in India
A significant trend has emerged among small and medium enterprises (SMEs) in India, with 88% of them now having a digitalisation strategy in place.
According to the Digitalisation of Indian SMEs survey by software review and selection platform Capterra India, only 12% of respondents had previously implemented a digitalisation strategy but are not currently running them. This, according to Capterra India, suggested that digitalisation has demonstrated its effectiveness, motivating most SMEs to embrace digital transformation.
The survey emphasised the growing recognition of digitalisation as vital for organisational growth, with nearly eight in 10 SME decision-makers considering it imperative. Around 40% of respondents initiated their digitalisation process in the last one to three years, showcasing the increasing momentum towards technology adoption.
Furthermore, 88% of organisations started their digitalisation efforts within the last five years. Within this subset of respondents, a significant proportion reported that their digitalisation drive gained momentum after the onset of the pandemic, highlighting how the global health crisis acted as a catalyst for technology adoption.
The survey also highlighted the active involvement of decision-makers in driving digitalisation within their organisations, signifying a strong leadership commitment to embracing technology. SMEs have outlined their specific areas for digitalisation, with 43% targeting accounting processes and 42% focusing on marketing, reported Business World.
Sukanya Awasthi, Content Analyst, Capterra India, concluded, “The pandemic has led to a shift in consumer sentiment and behaviour globally. Technologies such as blockchain, the Internet of Things, 5G, cloud computing, AI and data science have changed the global economy and are a cornerstone of this economic development, SMEs have also realised the need to digitalise their business models.”