Three Things That Halts Technology Upgrades at MSMEs | SupportBiz

Managing Growth

Three Things That Halts Technology Upgrades at MSMEs

What are the challenges that keep the MSMEs from adopting technology that will definitely assist their growth? Rohit Gupta of SAP has some answers.

New Delhi, December 13: Rohit Gupta, Delivery Head of SAP Gurgaon spoke about the challenge of getting SMEs to upgrade their technology to become more efficient and empowered in the global market. SAP is a global company that provides software and software-related services.

He says that in his experience he has come across three questions which make SMEs stop in their track towards technological advancements. The first question asked by the proprietor of an MSME is whether his small company needs to make investments in technology. Secondly, lack of information regarding the cost of investment keeps proprietors away. Finally, SMEs, according to Gupta, do not have the expertise to identify the areas in which they should make such an investment.

Gupta then proceeds to give a point by point solution to overcome these challenges. To answer the question of the need he says that SME has to be made to understand the basics like the return on investments made in technology. His rationale being SMEs by nature are a stretched entity in terms of resources. Hence it is important to make them understand of the benefit they stand to reap on their investment.

The second hurdle of cost misconceptions can be solved easily as technological advancement has made cheap the technology needed. Today, for every budget, there is a specific solution. Cloud computing in this regard is a major advancement.

Finally, understanding where to invest can be figured out depending on the vision and strategy of the company. Besides this aspirations, best practises and scalability are guidelines to make investment decisions.