Customer satisfaction is essential for all businesses to retain customers and attract new ones. It requires modern-day intelligence and technologies to fulfill customers’ expectations. Small and Medium Businesses (SMBs) are highly willing to adopt technologies and digital applications to enhance productivity and efficiency, irrespective of their sector. The Latest Microsoft study shows Indian SMBs are leading spenders on technology; approx 35% of SMBs spend over 10% of their revenue on technology. Further data shows increasing clientele and enhancing customer experience are major driving forces of technology adoption by Indian SMBs.
Moving to the cloud is a wise option in today’s business environment, it offers IT infrastructure and business framework. Indian SMBs are the most optimistic towards future cloud adoption; 27% are all or mostly cloud based – a percentage that is expected to be the global average in 2-3 years. Mid-income markets SMBs (27%) are more concerned about cloud adoption than their high-income markets counterparts (22%).
Managed Service Providers (MSPs) and Cloud Service Providers (CSPs) are the most preferred technology partners for a third of SMBs
- Due to the pandemic’s consequences, SMBs are more keen to invest in managed IT services and cloud solutions.
- 31% of SMBs like to buy technology products and services through MSPs and CSPs. Many SMBs do not have the requirement or capability to have permanent IT experts, so they prefer MSPs, and CSPs to get the job done.
- 25% of Indian SMBs prefer working with application developers/Independent Software vendors (ISVs).
Competition intensity is a more significant challenge in India than elsewhere
- No single company challenge is common to more than one-third of SMBs. Competition intensity and supply chain issues are the most common.
- SMBs in India are the most likely to view competition intensity as a major obstacle (35%).
- Customer loyalty, cash flow, cloud migration, and regulations are equally challenging to approximately a quarter of SMBs.
About The Microsoft Study
This study examines technology’s role in shaping the landscape, and their attitudes, preferences, and adoption of technology. Prepared by Analysys Mason, the study covers over 3,000 businesses with 1-300 employees in the top five industry verticals across 10 high and middle-income markets worldwide, including India.