SMAC, as the new wave in IT, is fundamentally revolutionizing the way computing is done and how users get information, work and engage themselves. Each element of SMAC is a growth engine and when blended represents a huge business opportunity.
The last few years have seen Indian SME’s recognizing technology as a key business driver, but its adoption is still low, as compared to other countries with large SME setups. This is due to a combination of the following:
• Lack of understanding of business benefits technology can deliver across end-to-end value chains.
• Lack of guidance on the inherent abilities of technologies and how these can be integrated and institutionalized in their businesses.
• Resistance to incurring upfront investment-related costs to implement technology
• Lack of skilled manpower to manage technology setups.
The subject of Social, Mobile, Analytics, and Cloud (SMAC) has been dominating debates across the world over the last 12–24 months. When we look at India, the time seems ripe for SMAC to finally move from being a hotly contested topic to a business reality. The impetus for this change is coming from the following developments:
• The exponential growth in adoption of smart devices to enable easy access to 3G or 4G networks. The increased popularity of social media
• Rapidly increasing volumes of data being captured by businesses across customer touch-points
• Advancement made in analytic tools and technology that is helping to bring analytics closer to business users and not limit it to statisticians and PhD-holders
• Cloud enabling businesses to deploy mobility and analytic solutions in a cost-effective manner and reducing time-to-market.
With the total addressable market expected to grow to $88 billion by 2017, Indian SMEs look for cloud, analytics and mobile solutions to improve operations and become more efficient. The demand for cloud services by SMEs is particularly high in the areas of disaster recovery, remote database management and e-mail hosting. According to NASSCOM, the estimated market growth driven by SMAC is expected to be 30% (US$1 trillion) by 2020. While expecting small and medium enterprises (SMEs) to play a leading
role in adoption of SMAC in India, given the huge opportunity it opens up, not only to grow revenues by increased marketing to new customers, it also brings in operational efficiency and transform the customer experience.
Moving forward, SMEs today have greater opportunities than before for expansion and diversification. They utilize technology to support business growth and achieve operational excellence. The rising ambitions of SMEs that cater to diverse expectations of employers, the workplace and the market itself, are forcing them to completely reconsider traditional business models and adopt cutting edge technologies like cloud.
Overall, in today’s scenario, Globalization, transformation and technology have become the hallmarks of successful small and midsize companies.