Tag: SMBs

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Technology

Indian SMBs To Get Major Boost As Microsoft India Announces ‘Dynamics 365 Business Central’, a Comprehensive Business Management Solution

Microsoft
Microsoft (Photo Credits: Twitter)

With an aim to encourage small and medium-sized businesses (SMBs) in India, Microsoft India has announced the general availability of Dynamics 365 Business Central, which is a comprehensive business management solution SMBs. The tech giant has customized this solution for India. The Dynamics 365 Business Central solution comes with inbuilt features that address local regulatory and market requirements for ease of business, including a tax engine comprising over 500 pre-configured use cases and business scenarios for GST, TDS and tax collected at source (TCS).

The Microsoft Dynamics 365 Business Central solution was announced by Microsoft during ‘Building a Resilient Future’, a virtual summit organised to discuss building resilience among SMBs in the presence of Union Road Transport and Highways Minister Nitin Gadkari. Microsoft Dynamics 365 Business Central is available through Microsoft Cloud Solution Providers (CSPs) in the country, the company said.

Here’s how Dynamics 365 Business Central would benefit the Indian SMBs:

  1. An all-in-one cloud solution, Dynamics 365 Business Central helps companies ensure business continuity by connecting sales, service, finance, and operations teams.
  2. It offers customers affordable and easily manageable tools that simplify and expedite everyday business processes.
  3. “We believe it will help small and medium-sized organisations move to the cloud confidently and be future proof,” said Rajiv Sodhi, Chief Operating Officer, Microsoft India.
  4. The solution can be accessed from any mobile device to conduct business on-the-go

During the launch, Gadkari said digitalisation is of utmost importance in the development of MSMEs, and could make the system more transparent, time-bound, and result-oriented. “In future, this would create efficiencies, create more market, and would be important for the growth of MSMEs in the country,” Gadkari added.

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Marketing Sales

COVID-19 Impact: Meeting Customer Expectations Top Challenge for Indian SMBs Amid Pandemic

New Delhi, October 15: Amid the coronavirus pandemic in India, the small and medium businesses (SMBs) have been finding it challenging to bring innovative offerings to market, personalise customer engagements and keep up with demand when meeting customer expectations. A new report revealed that financial management is the top challenge SMB leader respondents personally face when growing their business. According to a study conducted by leading Cloud software company Salesforce, maintaining financial growth is the top challenge constraining future business growth. It added saying that meeting customer expectations is the top constraint on operations for SMB respondents in India.

The survey was conducted online by The Harris Poll on behalf of Salesforce. Sunil Jose, Senior Vice President, Salesforce India, said that while reduced customer demand is the top constraint on future growth, applying for financial assistance is the top consideration for the future of the business for the SMBs in the country. “Amid a challenging business environment, SMB leaders have displayed remarkable strength and resilience with only 16 per cent of SMB respondents in India expecting an entirely new structure post the pandemic,” the study said. “This demonstrates that SMBs’ in India are resilient and positive of business continuity ensuring they get back on track”, the study added.

A report by IANS said that while 30 percent of the SMB leader respondents in India expect business to be as usual, 48 percent believe it would be slightly modified. In addition to pre-pandemic challenges, the SMB leaders in India are now faced with operational restrictions, compliance mandates, and shifting customer expectations. However, SMB leaders remain optimistic about the future of their businesses globally, the report added.

It added further that even during the pandemic, SMBs are continuing to adopt new technology, with at least one in five SMB respondents reporting they’ve implemented at least one of the following technology solutions in the last six months, including email marketing software, customer service software, project task collaboration tools, or e-commerce software. “Globally, SMBs’ are at a critical juncture. The key to accelerating consumer demand and solving problems for scale, come down to how they leverage technology to deliver the best customer experiences,” Jose explained.

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Technology

Google India to Launch ‘Namaste Digital’ Show on Doordarshan to Empower SMBs by Helping Them to Use Internet to Grow Their Business

Google (Photo Credits: Pexels)

New Delhi, October 1: As a part of its new multi-pronged effort to help small and medium-sized businesses (SMBs), Google India said that it will launch a new show in partnership with Doordarshan called ‘Namaste Digital’ to navigate the challenging economic environment. The ‘Namaste Digital’ show aims to serve as a mass media programme for SMBs to learn about the Internet and help them grow their business. According to a report by IANS, the tech giant’s the new initiative will focus on accelerating the efforts to help businesses build digital presence in partnership with software development company Zoho and payment gateway Instamojo.

Building on its effort to help consumers discover small businesses on Google search and maps and keeping the needs of different businesses in mind, Google has also partnered with delivery services providers Dunzo and Swiggy to fast track the on-boarding process. Both partners have committed to provide additional support to small businesses to start accepting orders online and enable delivery logistics. Under the new initiative, small businesses will be able to create business websites using Zoho inventory and sell online through Zoho Commerce for free till March 31, 2021. Instamojo on the other hand is offering a six-month free subscription to its “Premium Online Store Solution.”

SMBs can also avail Dunzo’s 24×7 merchant support for free with zero sign-up fees and instant registration and can make use of Swiggy’s seven days “Fast track Onboarding”. All these will be available for SMBs on “Grow with Google Small Business” hub in India which was launched in July this year.

Shalini Girish, Customer Solutions Director at Google India, said in a statement that today, the need to go digital is a necessity and SMBs are hard-pressed to digitise fast. “We need to do everything we can to handhold millions of small businesses in their digital-transformation journey and support business recovery during the current crisis”, she added. Adding further, she said that the needs of small businesses differ across the country and we are partnering with the industry leaders to offer more support to help small businesses go digital.

The ‘Namaste Digital’ Initiative:

  1. The new initiative builds on the “Grow with Google Small Business hub” effort. It is in direct response to the feedback received from small medium businesses captured in the Google-Kantar small business tracker research conducted in July.
  2. According to the report, customer related challenges tops the list for small businesses, with 92 per cent businesses facing customer related challenges, revenue loss due to low demand and payment of fixed costs are the other most severe challenges among businesses.
  3. The report also highlights that businesses are seeing the benefits of going digital, and today 5 out of 10 businesses are using digital channels to engage their customers compared to just 4 in 10 in April.
  4. In addition to providing support to go digital, Google India is also investing in efforts to scale its outreach to help small businesses learn to use digital tools in local Indian languages.

As part of this effort, Google has worked closely with Federation of Indian Chambers of Commerce & Industry (FICCI) to drive an industry wide skilling program which has already trained 1.2 million individuals.

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Technology

Facebook Unveils Business Suite, an App for Managing Business Accounts Across Facebook, Instagram and Messenger to Help SMBs Grow

Facebook (Photo Credits: Pexels)

San Francisco, September 18: In a bid to help small and medium businesses (SMBs), social networking giant Facebook has launched Facebook Business Suite, an app for managing business accounts across Facebook, Instagram and Messenger. This newly rolled out Suite is a new interface which aims to help businesses save time and stay up to date by managing their Pages or profiles across its family of apps. The suite allows them to post to Facebook and Instagram at the same time, and manage and receive messages, notifications and alerts in one place.

Facebook said it has announced a Business Suite for small businesses first, adding that it is a long-term investment to make this the main interface for businesses of all sizes who use Facebook, Messenger, Instagram and WhatsApp. The firm added saying that the new facility  is available for small businesses globally starting today, i.e. September 17, and will expand to larger businesses next year.

Sheryl Sandberg, Chief Operating Officer, Facebook, in a blog post on Thursday said people can also easily see what’s working and learn what’s resonating with customers with Facebook and Instagram insights. “The last few months have been tough for small businesses everywhere, and while there are reasons to be optimistic there is still much uncertainty ahead. But whatever happens, Facebook will continue to do all we can to help them adapt, survive and thrive online,” Sandberg said.

Facebook had recently conducted a study on the impact of COVID-19 on consumers’ purchasing patterns and their use of digital tools to search for and interact with businesses The study revealed that half of those surveyed said they had spent more money online overall since the outbreak, and 40 percent have increased their use of social media and online messaging for product and business recommendations.

The survey also found encouraging support for local businesses. In the survey, of those who said they had started shopping at new businesses, nearly three-quarters said that at least one was a small business. Nearly 31 percent also said they will increase their spending with small local businesses once the pandemic is over.

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Startup Technology

‘Grow With Google’, a New Online Programme Launched by Google to Help SMBs Build Digital Safety Net Amid COVID-19 Pandemic

Google (Photo Credits: Unsplash)

Tech giant Google has introduced a new online programme to help business owners learn how to build an online presence, find more customers, sell online or work remotely. This is being done amid the coronavirus pandemic to help business that digital tools can provide a safety net for small businesses. The new ‘Grow with Google’ lessons that have been included in the programme can vary from two-minute tutorial videos to live workshops. It can range from beginner level to advanced, so every business can find what they need to become more prepared.

According to a report by IANS, the programme was announced after a report this week showed how a ‘digital safety net’ can serve as a support system for small businesses and helps to mitigate the negative business effects of COVID-19. A report by non-profit Connected Commerce Council in partnership with Google stated that practically all small businesses in the US were disrupted by the pandemic, facing reduced customer demand and hours of operations as well as employee layoffs. 85% of small businesses said COVID-19 made them rethink their approach to digital tools, allowing them to adapt.

The study further revealed that businesses that had a digital safety net in place and used a variety of digital tools — like digital ads, digital payments, data analytics and customer insights tools — felt better prepared. However, not all small- and medium-sized businesses have a digital safety net. The new ‘Grow with Google’ lessons are designed to serve the interest of these businesses.

Here’s How ‘Grow With Google’ Will help SMBs:

  1. Google has introduced a new programme called ‘Grow With Google’ on the ‘Google for Small Business website’. Click here for direct link.
  2. Grow with Google is partnering with SCORE, a network of volunteer, expert business mentors, and non-profit International Downtown Association (iDA) to complete a series of affordable and easily accessible Grow with Google workshops for 50,000 small businesses across the US.
  3. Business owners can find personalised Google product recommendations for their business, as well as helpful tips and practical guides to help small businesses get the most of these tools
Categories
Finance

Amazon to Invest $18 Billion This Year to Help SMBs in US to Scale Their Operations and Grow

Amazon (Photo Credits: Amazon, Facebook Page)

Seattle, September 2: E-commerce giant Amazon on Wednesday announced that it will invest $18 billion this year to help small and medium businesses (SMBs) scale their operations and grow. The firm stated that in the next 12 months, it will provide more than 5,00,000 SMBs in the US currently selling on Amazon, with online selling guidance, education, and support. Moreover, the company plans to onboard an additional 1,00,000 US businesses as new sellers in its store. Jeff Wilke, CEO Worldwide Consumer at Amazon, said that at Amazon, the mission is to be Earth’s most customer-centric company, and part of fulfilling that mission is connecting small businesses with customers.

Wilke made the statement during Amazon Accelerate, a three-day virtual summit for SMBs in the US that was kicked-off on Tuesday. Wilke further said that Amazon’s success is directly tied to the success of independent businesses across the US. “We are passionate about supporting small businesses, investing and inventing on their behalf to help them be resilient through COVID-19 and beyond,” Wilke added.

Despite the impact of COVID-19 has had on small businesses, many American SMBs selling through Amazon have experienced continued growth. The e-commerce behemoth has launched more than 135 new tools and services this year to help sellers manage and grow their businesses, including new ways to connect brands with customers.

According to a report by IANS, the company said it will spend an additional $100 million this year to promote small businesses during Prime Day and through the holiday season. Last year during Prime Day, third-party sellers – mostly SMBs – exceeded $2 billion in global sales. The report added that the third-party sellers continue to account for more than half of all units sold in Amazon’s store, and even during the pandemic, third-party sales continued to grow faster than Amazon’s first-party sales.