90% of SMBs in India are Adopting Smart Technologies

90% of SMBs in India are Adopting Smart Technologies

SMBs in India are gearing up to use and deploy smart technologies in their operations.

Tier II Indian cities are the highest adopters of payments technologies.

NowFloats, a location-based content marketing platform, in association with Zinnov has unveiled a report focused on the technology adoption trends among small and medium businesses (SMB’s) across India. The report titled “Inside the Internet of India” brings together insights on the usage of smart technologies across various industries and cities.

The survey was as a part of the Digital Desh Drive, it’s was conducted across 24 cities from Amritsar to Kanyakumari, with the aim of studying the behavioral patterns of entrepreneurs across different regions. The drive enabled them to build a strong digital footprint online. “Technology now plays a very important role in business expansion and through this study we have highlighted these technology adoption trends in Tier II and Tier IIImarkets across various sectors,” said Jasminder Singh Gulati, CEO of NowFloats.

“We witnessed that more than 90% of small businesses are adopting smart technologies for their businesses, which further proved that technology adoption is growing at a much faster pace, than generally believed, not only in metro cities but also the smaller markets. Along with the SMBs’ fast evolving technology journey, we also notice a strong amalgamation of both digital and traditional tools to do business as an emerging trend.”

Jayant Sinha, Minister of State for Finance, extended his support to the Digital Desh Drive. “The country’s economic prowess “He said” is such that by providing better life to one billion Indians, the problems of the world would be solved. This initiative is a firm step towards enabling our citizens digitally and empowering them economically. The results of the report strongly indicate the unexplored potential of the country in Tier II and Tier III markets.”

SMBs across locations and verticals are adopting smartphone technologies more rapidly than ever. The need to connect instantly with customers is a key motivation Many businesses are using tools such as websites and e-mails for promotions and marketing. Significant usage of credit and debit cards and online banking for payments has been experienced. Merchants are willing to adopt new technologies such as mobile wallets if customer demand increases.

Insights by Location: Tier III Indian cities are the largest adopters of smartphones and PCs for communicating with customers, managing business data and performing accounting related activities. Tier II Indian cities are the highest adopters of payments technologies such as online debit and credit cards for sales and transactions.

Insights by Industry Verticals: Many retail businesses are using smartphones to interact with customers and suppliers Hospitality businesses use online platforms aggressively to acquire and communicate with new customers Manufacturers businesses primarily leverage smartphone-enabled platforms to integrate and closely monitor their suppliers A third of SMBs leverage technology tools such as websites and email for marketing. “COM” remains the first choice of extension for SMBs with or without a website.