| | APRIL 20209THE INDIAN START-UP AND SME ECOSYSTEM CONTINUES TO SEEK COST EFFECTIVE AND EFFICIENT METHODS TO INNOVATE BUSINESS PROCESSES, EVEN AS NEW INNOVATIONS IN TECHNOLOGY HIT THE MARKET ALMOST EVERY DAYthis and thus, is expected to not just stay, but expand further. Cloud Storage and Operations Data is the currency of the digital era and cloud storage is the reliable safe vault! With the digi-tization of business, more and more SMEs are adopting cloud storage to leverage its features for efficient CRM, Operations and for enabling secure transactions. That cloud services are be-coming increasingly agile, budget-friendly and easy to access across the realms of time and geography, is an added advantage that is go-ing to ensure this trend stays in fashion for the coming decade. Endorsing Chabot With restricted capital, the smart method to get the work done is automation. What most SMEs believe is that improving customer ex-perience is their top priority and strategy for augmenting revenue growth. And chatbots are helping them do just that! While some ar-gue that this takes away from personalization, leverag-ing smart AI tools has helped SMEs not only do well in their business by saving on resources, it has also made them more relatable and aspirational in the eyes of their customers, who are seeking innovative technology solutions. Social Media for MarketingA marketing report says that 96 per cent of SMEs are us-ing social media in their marketing master plan. Social media platforms such as Facebook are doing fabulous for them in terms of Facebook Ads and reach. Social Media has also become a place to explore and know the competitors, which will make it easy to make the busi-ness plans more strategic. It's also a platform to gauge instant consumer feedback and assess the success or predict the future of a new product or service. With the help of Social media, small scale entrepreneurs are also able to share their ideas and seek support or guidance from other entrepreneurs and mentors, which help them explore new areas. The Indian start-up and SME ecosystem contin-ue to seek cost-effective and efficient methods to in-novate business processes, even as innovations in technology hit the market almost every day. Like ev-erything else, technology has become an essential ba-rometer for business success and not adapting to the new age processes is a sure shot way to perish, in the 21st century.
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