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Small and medium-sized enterprises' contribution in digital technology.

Girish Santosh Bagale1, Venkata Ramana Vandadi2, Deepmala Singh3

  • 1School of Business Management, SVKM'S NMIMS University, Mumbai, India.

Annals of Operations Research
|August 30, 2021
PubMed
Summary

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This summary is machine-generated.

Digitization significantly boosts efficiency and productivity in Small and Medium Enterprises (SMEs) through Digital Technology (DT). While not a solution for crises like COVID-19, it drives automation, quality, and demand, especially in India.

Area of Science:

  • Business Administration
  • Information Technology

Background:

  • Small and Medium Enterprises (SMEs) are crucial for economic growth.
  • The adoption of Digital Technology (DT) has led to a significant increase in the number of SMEs.
  • Digitization offers potential for enhanced efficiency and productivity in SMEs.

Purpose of the Study:

  • To examine the role and impact of digitization on SMEs in India.
  • To analyze the benefits of Digital Technology integration for Indian SMEs.
  • To explore the potential for further digital technology adoption in India's SME sector.

Main Methods:

  • Literature review on digitization and SMEs.
  • Analysis of the impact of Digital Technology on SME growth and automation.
  • Examination of the Indian SME sector's current digital landscape.
Keywords:
COVID-19Customer relationship managementDigitizationSME

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Main Results:

  • Digitization, driven by Digital Technology, increases automation, product quality, and market demand for SMEs.
  • India's SME sector shows considerable potential for integrating new digital technologies.
  • The study includes an analysis of Customer Relationship Management (CRM) applications and digital payment systems within SMEs.

Conclusions:

  • Digitalization is vital for enhancing SME competitiveness and economic contribution (GDP).
  • Further integration of digital technologies is recommended for India's SME sector to capitalize on growth opportunities.
  • Digital tools like CRM and digital payments are key components of SME digitalization.