India’s MSMEs are the backbone of the country’s socio-economic development, contributing significantly to the GDP and employing over 40 percent of India’s workforce. It has become more critical than ever for these entrepreneurs to stay ahead of the curve with digital transformation, led by the cloud.
As per a McKinsey report, many respondents recognise that their companies’ business models have become obsolete. Only 11 percent believe their current business models will be economically viable through 2023, while another 64 percent say their companies need to build new digital businesses to help them get there.
Keeping these challenges in mind, it is critical for enterprises to collaborate with credible, experienced technology partners who can play an essential role in enabling them to deliver value to their customers. Digitalisation is the need of the hour that can help SMEs in preparing for challenges and innovating to scale up. Today, 55 percent of enterprises want to enhance their products and services. To address the increased demand for cloud adoption, various Indian companies are setting up dedicated business units by partnering with cloud hyperscalers.
Cloud technology has levelled the playing field for MSMEs by putting them at par with larger players. This could be possible after cloud helped them unlock access to the same modern technologies that would be used by larger companies. With the cloud, MSMEs are discovering new opportunities, and ways to improve productivity and efficiency.
As per India Cloud Infrastructure Market Report 2021, India’s cloud market is expected to grow at a CAGR of around 29 percent to reach Rs 1,16,923 crore by 2025.
To shed light on the accelerated use of cloud, YourStory, in association with SAP, presents a roundtable on ‘Seizing the cloud opportunity: The big picture’. The topic will deep-dive into the current ecosystem as a whole and the importance of cloud today.
What to expect?
In the past years, cloud technology has emerged as a key enabler to accelerate digital transformation for companies. It comes with great response time, data storage, information access, reliability, and security. It is reliable, flexible, affordable and up-to-date.
To offer more insights into the impact of cloud technology on your business, we have organised the roundtable ‘Seizing the cloud opportunity: The big picture’. The discussion will include CEOs of tech-focused startups, an expert, and a policy maker.
The aim of the event is to offer unique lessons and perspectives by experts into the current ecosystem and how cloud technology can truly help enterprises rise.
Who should attend?
Entrepreneurs and employees belonging to the MSME sector who want to create a difference by leveraging the cloud can attend the event.