Advanced Technologies Opening Newer Channels For SMEs

Nitin Chacko, SBU Head & Managing Director, ICAN BPOWith exceptional management skills, Nitin creates viable options for prospective candidates

While most BPO consultancies cater to the needs of the large corporate houses and Fortune 100 or 500 companies, the Small and Medium Enterprises (SME) and Startups are largely underserviced.

SMEs maintain a laser-like focus on ROI and prefer taking measured steps after trying and testing and checking how the ROI is. Thus, a specialized and flexible dashboard management system is required. Outsourcing dashboard management system hence becomes the most viable recourse.

The issue that SMEs confront very often is the rigidness to do things on the fly and dynamism. They need a feel of the larger companies, but at the same time need their outsourcing partner to expedite things and work around to enable them to realize quicker ROI with unmatched cost benefits. Management level interaction and quick access which typically is not available with other larger companies thereby enabling things to be fast tracked towards the betterment of the process or program, adds to the USP of anyone who wants to cater to this high potential underserviced market.
Starting 2015 with the implementation of reforms in India made the SME/startup space relatively bullish and 2017 onwards was further elated with the advent of advanced technology opening newer channels for business across several sectors. Indian SMEs are experiencing simultaneous adoption of web as well as mobile based technology. The presence of innovative technological platforms is already bringing on board a rising number of small players including the neighborhood kirana store. The rise of B2B e-Commerce has already gained momentum and the SME market in India is touted to be a $30 billion market of emerging technologies by 2020.

Outsourcing dashboard management system hence becomes the most viable recourse

Outsourcing for these startups/SMEs are key to their success so that they can concentrate on their core business. However, there is big lacuna with companies that understand their pain areas and are willing to work with laser like focus on their ROI. If one understands the nuances and creates process around this it is huge potential market which the bigger players currently don't cater to. According to a Nasscom report, the BPO sector in India has grown to reach nearly $11 billion in export revenues within a decade. Corporate houses of the west heavily depend on the Indian BPO industry due to its cost effective and quality services. Although BPO firms are growing like mushrooms in India, only a few of them meet the demands of Global SME clients.

To cater to these SMEs, one should firmly believe that irrespective of the industry, organizations that are proficient in acquiring, servicing and retaining the right customers excel in the long run. Managing customer relationships, fostering improvement and adding value to them is how one can enable its clients worldwide to constantly improve their business performance. Services should be based on moving forward onto a footprint made by its own strategy wherein it believes in reaching-out to customers and encouraging product and/or service us-age. At the end it is the experience and unique measurement tools that provide clients clear visibility into the ROI, which by and large is the mantra for success catering to SME and startup market globally.