SMEs are aware and willing to adopt digital solutions for higher profitability: Rajiv Vaishnav
Enterprise business intelligence solutions and core-tech applications that make businesses more efficient are being increasingly adopted by SMEs
Enterprise business intelligence solutions and core-tech applications that make businesses more efficient are being increasingly adopted by small and medium enterprises (SMEs) as the younger generation in these family-run businesses take over.
They are more aware and willing to adopt digital solutions, delivering higher profitability.
A few sample use cases:
Inventory optimization for auto parts makers: Business intelligence solutions identify trends and patterns in historic data.
They build predictive engines to effectively optimize inventory costs.
Virtual reality for customer engagement: A travel company can provide a customer a virtual walk-through before a holiday purchase.
Blockchain apps: A logistics company can leverage blockchain for multi-stakeholder transaction management in a supply-chain network.
Nano-sensors-based Internet of Things (IoT): Nano-sensors have the potential to eliminate hardware from IoT by residing in manufacturing fluids and capturing all vital processes.
The likely winners will be the ones that deliver:
Meaningful Impact-scale: Ability to scale with the right business models with a manageable number of customers
Domain depth: Backing entrepreneurial teams with deep-domain experience, solving real business problems
Build sustainability: Minimum dependence on next round of capital for scale and sustenance, thus eliminating any fire-sale situations
Incumbents: Larger incumbents are disrupted quicker—efficient processes, new market segments, new markets, revenue models, etc. Such investments deliver better exits as incumbents pursue inorganic growth.
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