Enhancing Productivity of Indian MSME’s through Digital Transformation

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INDIA: The onset of the COVID-19 pandemic has had an adverse impact on the productivity of businesses across sectors mainly affecting Indian MSMEs. On the occasion of National Productivity Day created by the National Productivity Council and to kick-start National Productivity Week, Tally Solutions organized an insightful panel event in association with CIMSME and MSME Forum. Themed “Enhancing Productivity through Digital Transformation” the discussion put forth solutions, ideas, and initiatives from industry leaders on how small and medium businesses can enhance productivity and restore their growth to the pre-pandemic era.

Tally Solutions is one of the first organizations to lead conversations with reference to reengaging MSMEs through improved productivity. This webinar is the beginning of efforts that will aim to discuss productivity in the context of digital transformation. Businesses can utilize solutions such as digital collaboration tools and go beyond geographical barriers, enabling themselves to reconnect with the business environment and gain a strong footing once again.

“Tally Solutions has worked closely with MSMEs contributing towards a digital transformation that has enabled them to ensure business continuity and boost productivity. One of the key parameters of this shift is digital collaboration using online tools for transactions that have gained momentum and helped businesses move beyond geographical boundaries during the pandemic. This is expected to continue even in the post-pandemic era with most businesses fully understanding the benefits of digital technologies to improve efficiency and productivity. Quick re-engagement of a small business with the mainstream economy is essential. All of us need to work towards helping such businesses put the past year behind and quickly come back on their feet. At Tally, we are also investing heavily to innovate on connected solutions for ease of business and to support entrepreneurs in adopting e-invoicing under GST”, commented Joyce Ray, Head – India Business, Tally Solutions.

“With NPC’s focus to raise consciousness towards innovation and productivity, it encourages businesses in all spheres of the national economy through holistic and inclusive approach by addressing the triple bottom line – Economic, Environmental and Social. We work with UNEP and UNDP with the agenda to improve productivity through digital transformation. It is also our endeavor to provide guidance and be the knowledge center for MSMEs and start-ups by streamlining the processes and systems through computerization, connectivity, visibility, transparency, predictability, and adaptability to build business value, which can enhance productivity. This transformation can be achieved through the Internet of Things, smart factory, horizontal and vertical integration, etc.” noted Sh. Uma Shankar Prasad, Director & Head (HRM & Industry 4.0), National Productivity Council.

Mr. Ravindra Nath Ex. Chairman and Managing Director National Small Industries Corporation touched upon how Digital Transformation is largely for Business Transformation – to improve the efficiency within an Organisation in order to make it more effective, jobs easier for employees, enable the workforce to be more productive and proactive – all leading to ‘organizational change’. He said Business Transformation will succeed only when we invest in people and process side of things that merely in technology. He narrated the success story of his organization, i.e., NSIC’s business strategy that focused on Business Transformation, with major involvement of People i.e., its employees, improvement of Processes, in making a complete turnaround of it while moving on to become an Atmanirbhar NSIC, a Mini-Ratna-I PSU. Tally, he said was a part of this turnaround.

The event saw attendance from 15000+ Indian MSMEs, who was given a dynamic platform to understand how digitization can play a substantial role in the prosperity of their business. The virtual initiative was held on February 12, 2021, with the participation of noteworthy leaders from the MSME sector as well as entrepreneurs with key enterprise expertise. The keynote address was delivered by Joyce Ray, Head – India Business, Tally Solutions, followed by opening addresses from Sh. Uma Shankar Prasad, Director & Head (HRM & Industry 4.0), National Productivity Council and Mr. Ravindra Nath Ex. Chairman and Managing Director National Small Industries Corporation. Following this was the lively panel discussion between Mukesh Mohan Gupta, President of Chamber of Indian Micro Small and Medium Enterprises; Mrs. Kanchan Khera, CEO & Founder, Zykrr and Sumit Guha, Senior Manager IT at Asian Paints moderated by Mr. Ravi Nandan Sinha Board Member and Director MSME Business forum India.

Technology has the innate ability to amplify productivity and2021 will see a transition in MSMEs adopting and investing in digital solutions to not only become future-ready but digitally connect with other businesses going forward.

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