The year 1991 was a landmark year for Indian Economy when Dr. Manmohan Singh's vision lead India to trail a different path not so well known to India till then. After 2 decades India is the focus of world economy. Few days back The Economic Times published a story India aims to be world's fastest growing economy . The content was enough to provide you a glimpse of India's growth. A senior executive at Marvel Gloves , which produces 3 million pairs of gloves a month, has disclosed that the demand for gloves (used in industrial production) in India has increased so high that they are unable to meet the claims despite importing from China. This at a time when others on the globe are talking about recovery from recession & when EU is sanctioning billions of $ to Greece! This is an indicator that the Indian SMBs (Small & Medium Sized Businesses) has to buckle up for the next wave of industrial revolution.
SMBs in India have missed the 1st wave of IT revolution. Various reasons can be attributed for it, viz. low or no PC penetration, low or no Internet penetration, Multiple languages, High capital expenditure, lack of awareness etc. I've no statistics to support but I can take a guess that there may be 1000s of SMBs who are still doing all their CRM and data storage in excel sheet. Some of them are still on pen & paper.
Missing the 1st wave of IT revolution is a boon in disguise. Why?
· Cause they can opt for the latest trend: Cloud Computing. Indian SMBs are like a clean slate free of any complex legacy software to be incorporated in their future software implementation. Cloud Computing is the new technology trend which can act as a lever to pole-vault Indian SMBs into next phase.
Advantages of Cloud Computing
· Reduced total cost of ownership.
· Highly Scalable: can scale up or down based on demand.
· Subscription based. Pay as you go.
· No need to maintain servers & other IT infrastructures.
· No need to maintain skilled resources for application maintenance.
This is the right time for Indian SMBs to embrace the latest IT trend to make them competitive at a global scale.