Cloud technology has never been more important or relevant as it is today. Are you on board yet?
Uncertainties in the business environment, because of the COVID-19 pandemic, have disrupted businesses globally. Small and medium-sized businesses (SMEs) are especially hit; struggling to stay afloat despite fiscal measures announced by most countries. In South-east Asia, SMEs account for between 89 per cent and 99 per cent of all establishments while in India, 95 per cent of all companies are SMEs, employing about 40 per cent of the country's total workforce.
Digitisation never ranked high up on the priority list for most of these SMEs. However, forced lockdowns due to the pandemic have truly changed the dynamics for them—most of these organisations are now forced to look at digital technologies to continue to remain in business. In today’s situation, the call to embrace new opportunities that offers an alternative to a traditional medium of exchange is inevitable.
With the proliferation of broadband Internet and high-speed mobile networks, they can now adopt a completely new range of enterprise-class technologies. From collaboration tools to virtual learning and cloud-based applications, the pandemic has unknowingly forced the region's SME market to adopt digital technologies. It is a new segment with unbridled potential that has not invested in technology earlier, and this period has proved to them the benefits of adopting cloud technologies.
Essentially, cloud technology facilitates access and real-time collaboration from anywhere with an internet connection, allowing SMEs to be even more connected to their customers, employees, partners and other stakeholders and vice versa. This enhances operational efficiency and helps SMEs to stay relevant in today’s uncertain times. Cloud services will also undoubtedly prove more challenging and resource-wasting for hackers or invasive third-party intruders to decrypt as it can fend off the risk of phishing and malware programming which in the digital age, can cripple and bring even big conglomerates to its knees.
With a growing number of cloud service providers, SMEs can integrate their external data points with partner networks and cloud-based ecosystems. These service providers will be able to provide assistance and support in areas such as language differentiation, financial resources, and local market compliance.
With support from the public-private sector, SMEs should ride on initiatives to equip themselves with digital tools to shape their organisational DNA and develop agile operational processes. This paradigm shift to true digital transformation is what Deskera is striving to enable for SMEs—to empower them to run their business on the mobile and leverage the cloud from anywhere in the world.
The burden of recovery from COVID-19 should not be shouldered by SMEs alone. We must come together to mobilise resources to ensure that the new normal of business comes from an ethic that values collaboration, mutual aid, resourcefulness, and digitisation. SMEs will need to continue to adopt digital practices and tools that will enable them to future-proof their competitive advantage. This current period has, inadvertently, proved to be the most significant proof of concept for cloud-based technologies.
Singapore-based entrepreneur and innovator Shashank Dixit is the Founder and Chief Executive Officer of Deskera. Shashank built the foundations of Deskera in his university dormitory with a simple but powerful vision: “To empower the digitisation of SMEs and help them run their businesses with ease.”
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