Tuesday, 28 October 2014

Mobility in everyday life has resulted in the world evolving towards a truly connected place.

Mobility provides new channels to businesses for active engagement with their existing customers as well as reaching out to potential customers. The opportunities are more profound for the small and medium scale business in India as SMBs employ nearly 40% of the population in India. With multiple pay-as-you-go business models dominating the landscape, technological innovation which could earlier be afforded only by bigger players is available to SMBs.

SMBs (Small and Medium Businesses) in India face pressing challenges such as expansion of operations as well as retaining their existing consumer base. Lack of capital further affects their maneuverability and inhibits innovation. On the other hand, mobility in everyday life has resulted in the world evolving towards a truly connected place. Personal use of mobility is already visible with people, especially youth relying on mobile devices as their primary communication tool. According to reports, smart phone users in India will explode by nearly 300% to 382 million by 2018 with most of these users accessing internet through their phones.

Small and medium businesses (SMBs) play a pivotal role in a developing country like India. It has been estimated that India is home to 48.8 million SMBs and they contribute 17% to GDP of the country today. It is largely dominated by micro scale businesses, comprising 95% of the landscape, followed by small scale businesses comprising 4.8% and the rest 0.2% by medium scale businesses.

This transition creates challenges as well as new opportunities for business. Indian companies spent R3 billion ($49.9 million) on mobile ads last year, and the market is projected to expand 43% this year, according to the Mobile Marketing Association. 

SMBs need advanced technological solutions which optimally utilise their resources thereby increasing their productivity and efficiency. Such solutions will have a larger societal impact apart from the economic benefits they ensue. In fact, the impact of adopting mobility solutions is already evident. To illustrate, as per the 2014 AT&T-SBE Council Small Business Technology Poll, globally small businesses are drastically cutting costs and saving time with the help of mobility—to the tune of nearly 2 billion hours and $67.5 billion on average each year.

To conclude, the SMB industry has the potential to be the largest growth driver for the economy. The players need to move beyond traditional practices and adopt solutions which would give them the required impetus to script greater success stories in the coming years. URS Systems offers a portfolio of tools and services to develop mobility strategies so you can create a mobile enterprise that capitalizes on new business models, innovate products and services, and unlocks workforce productivity. 

Visit us @ www.urssystems.com to know more about our offerings.


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