ICT- A necessity for SMEs in global world

BANGALORE,INDIA:

Nowadays Information and communications technology (ICT)is vital in each and every phase of operations of SME's. SMEs’ utilization of ICT ranges from fixed telephone lines to more advanced technology such as e-commerce and the implementation of complex software.

Information and communications technology (ICT) encompasses electronic information processing technologies such as computer hardware, software and networks, as well as communications technologies such as the Internet, fixed lines, mobile phones and wireless communications.

SMEs can reduce their operating costs by improving their internal efficiency and also increase revenues by offering better communication and promotion channels, by applying the relevant ICT elements. ICT can help SME's to improve each and every aspect of their business. SME's can become more competitive and can explore new horizons with ICT.

Also read: NSIC launches MSME's intelligence portal

With the invention and development of Mobile phones and Internet the whole world has globalized and has enabled us to be contacted practically wherever we are, while emails allow us to send letters, documents and images to a person halfway around the world almost instantaneously. With internet SME's now have access to online marketing where they can advertise and promote their products and services.

ICT tools help SME's to match the pace of this fast growing world. ICT not only helps in operations of the business but also makes it possible for existing and potential customers of yours to be able to get in touch with you easily and save your business from being snatched away by your competitors.

There are four major levels through which ICT can be implemented in your SME, viz:

• A fixed telephone line or a mobile line (or both) and a fax line for communication.
• A personal computer for processing and networking.
• An Internet connection for e-mails, e-commerce and browsing.
• Advanced softwares like ERP (Enterprise Resource Planning) and CRM (Customer Relationship Management)

So with all of its innovative elements like SMS, video conferencing, WiFi, VoIP (Voice over Internet Protocol), WiMAX etc. ICT is no longer an option but has become a necessity for SMEs to survive in this cut throat competition.

Source: www.smallbusinessfinancetips.com