The small and medium businesses (SMBs) are taking India’s economic development to greater heights. Over 51 million SMBs employ more than 117 million people and contribute almost 40% to the GDP1.
To add up revenues, SMBs keep innovating and adapt themselves to the ever-changing landscape. Now, they have entered a highly competitive modern marketplace, where being digital-first is the key to success.
The small businesses are understanding the necessity of using digital tools to enhance customer experience and conduct transactions to increase revenues and gain competitive edge.
Among the first steps in going digital, SMBs deployed personal computers (PCs) and upskilled its workforce, which eased inventory management, accounting, filing GST, capital management, CRM (Customer Relationship Management), and more.
Now, they are taking a step further and bettering their tech set-up to successfully compete within domestic and global marketplace. SMBs are using different software to become even more organised in tasks such as invoicing, tracking company’s conversations with prospective clients, data analysis to assess behaviour patterns, e-mail marketing, file back-up and management, project flow, file recovery, etc.
As per a web-survey by J.Gold Associates*, every five-year-old computer costs a business Rs 1.87 lakh per year. It also stated that employees become 28% less productive.
However, most of the SMBs still rely on PCs over five years old as they believe in one-time tech investment. But, this is hampering their business as older PCs need repair every now and then, costing more than the price of a new processor or PC.
Refreshed processors such as Intel Core i5 8th generation is a wise investment and it lets SMBs keep pace with changing business requirements.
Upgraded processors enable a business to make the most of softwares/ solutions that enable faster client interaction, collaboration, manage workflow effectively, video-conferencing calls, cloud solutions, etc.
SMBs can singlularly focus on driving profits and business expansion by keeping technology issues at bay thus saving them time, cost and resources.
*Disclaimer: “Every 5 year old computer you have is costing you 1.87 Lakhs per year” is based on a 2018 web-based survey, commissioned by Intel and conducted by J.Gold Associates, LLC., of 200 small business owners (in US, Australia, India, China and Japan) to assess the challenges and costs associated with deploying older PCs.
Survey respondents estimated that for PCs more than 5 years old, employees would be 27.93% less productive – based on an average assumed employee’s salary of US$10,000, the lost productivity cost will amount to US$2,793. A conversion rate of @66.82 as of 5th May 2018 was applied to calculate the cost to be 1.87 Lakhs. To review this statistic and the full report, visit www.intel.in/smestudy.
(1): As per an annual report by the Ministry of Micro, Small and Medium Enterprises
With a new PC you can, increase productivity, streamline operations?