How Cloud based solutions are helping SME's to compete with the industry leaders and accelerate growth

Jun 16 2014, 11:08 IST
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SummaryCloud computing is providing an unprecedented opportunity to SME’s to leverage the tools, technology and best practices that have traditionally been available only to large players

that bring enterprise class functionality at price points that SMEs can afford. These products are designed specifically for the SMEs and enable them to compete aggressively in the global market. The new generation CRM and ERP products help SME’s accelerate growth by giving them complete insight into their business. These products can help them manage the complete marketing cycle from campaign management to lead capture. They can also track the complete sales cycle consisting of Opportunity creation, Quotation, Order, Invoicing and Payment tracking. They can track all the activities of their sales people even when they are working from remote locations. This ensures that no leads are lost in the system and each lead is tracked to closure. This results in higher customer acquisition leading to accelerated growth.

SME’s can also get access to the best-in-class project management tools. These tools can help them manage the projects with significantly lower project management overheads. They can also track the project health and the project profitability during the course of project execution. This gives them the capability to execute projects on-time and under budget.

One of the major pain areas of SME’s is the ability to attract and retain talent. Also once talent leaves the organization; all the knowledge assets also go with the talent. New cloud based solutions enable the SME’s to build knowledge repository at very affordable price. This enables the SME’s to convert the individual knowledge into organizational knowledge. This also helps them compete aggressively with industry leaders as they can now deploy the entire organizational knowledge in competitive situations.

The new generation cloud solutions are not just tools that automate the processes. They incorporate the industry best practices as part of the recommended processes. This gives SME’s a huge advantage as they gain access to processes that are on par with the best in the world. They also get the ability to benchmark their key metrics with the industry leaders. It gives them pointers to the areas of improvement as well as the extent of the gaps.

SME’s have started embracing the cloud technology and cloud based solutions to build truly world class products and services.

By Kamal Mansharamani Director and Co-founder workXmate.com

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