As a result of constant interaction with SMEs, IndiaMART Knowledge Services Team has understood the various hurdles faced by them at different stages of business growth. As the business grows, there is substantial increase in the costs too. To address this concern, we bring to you free online resources which SMEs can use to expand their business.
Business Function Focus: Purchase and Sales
Purchase and Sales undoubtedly are two of the crucial functions for any business. For emerging companies, its all the more important. For any business to scale up sales are an essential aspect. There are many online tools and services, most of them free, available, which can be of immense help to emerging companies.
E-commerce helping SMEs grow: New Opportunities
Internet based technologies, especially the e-commerce, offers SMEs the opportunity to cut business transaction costs and find new customers and suppliers. Also e-commerce creates a whole new opportunity for SMEs to reach out and explore markets, both domestic and international without being present physically. This was not possible earlier.
E-commerce helps SMEs improve business operations
Not just new opportunities, e-commerce has opened a whole new opportunity for SMEs in terms of improving the manner in which they serve their existing customers.
Example in this case is the B2B marketplace, like IndiaMART: there are buyers and suppliers who are active on the online platform, looking to transact with global partners. Moreso, many businesses are using this platform to connect with prospective partners globally to add onto their business strength.
But what does it take for me to register my business on such platforms. And do they help me with marketing my business to International prospects?
Well, not much. Infact just your time and access to the internet. Registering on these platforms is free, the associated services may be charged though. And it is given that while you register your business on platforms like these, its not just that you are another one of the lakhs of listed members but your business actually fetches the right visibility. You are allowed to upload your product catalogue(s) for interested parties to see, across the globe.
So is E-commerce only for B2B? Are there B2C examples?
This is where it all gets more interesting. E-commerce in the B2C mode has been much prevalent outside India in the past. However, now it is catching up here as well. Though there are issues of online security constantly raised and addressed, but e-commerce is becoming a power to reckon with.
With the recent growing popularity of deal sites like: Groupon, DealsnYou, Snapdeal etc, the B2C e-commerce sure is gaining momentum. The initial trends have been only in the urban cities, but with mobility spreading across regions, increasing consumerism is sure going to make an impact.
But are products really selling?
For emerging companies, investing into internet technology has always been a time consuming decision. Though SMEs are well informed today, but the lack of strategic thought hampers the growth. There are many companies who have leveraged the services of online medium and reached pinnacle of success.
There are many examples in the Indian context. One is flipkart.com, a major online bookstore. It started its business with a single focus on selling books but has now branched out into various other streams such as mobiles. Since then they have had a fantastic run online. Do we need say more?
But what lacks then, if its that simple? B2C E-commerce must have touched sky high?
In India, the transactional infrastructure including security is still being discussed and this is one point which has been a drawback for the B2C E-commerce. But as part of the evolving ecosystem, things are changing and with the consumer's being more educated, online consumerism is increasing in India.
Are there examples of online tools for increasing Sales?
In terms of Online Applications in the B2B space, the various E-commerce sites are:
Business Function Focus: Purchase and Sales
Purchase and Sales undoubtedly are two of the crucial functions for any business. For emerging companies, its all the more important. For any business to scale up sales are an essential aspect. There are many online tools and services, most of them free, available, which can be of immense help to emerging companies.
E-commerce helping SMEs grow: New Opportunities
Internet based technologies, especially the e-commerce, offers SMEs the opportunity to cut business transaction costs and find new customers and suppliers. Also e-commerce creates a whole new opportunity for SMEs to reach out and explore markets, both domestic and international without being present physically. This was not possible earlier.
Source: http://www.imobisoft.co.uk/App_Themes/images/ecommerce_process.jpg
E-commerce helps SMEs improve business operations
Not just new opportunities, e-commerce has opened a whole new opportunity for SMEs in terms of improving the manner in which they serve their existing customers.
Example in this case is the B2B marketplace, like IndiaMART: there are buyers and suppliers who are active on the online platform, looking to transact with global partners. Moreso, many businesses are using this platform to connect with prospective partners globally to add onto their business strength.
But what does it take for me to register my business on such platforms. And do they help me with marketing my business to International prospects?
Well, not much. Infact just your time and access to the internet. Registering on these platforms is free, the associated services may be charged though. And it is given that while you register your business on platforms like these, its not just that you are another one of the lakhs of listed members but your business actually fetches the right visibility. You are allowed to upload your product catalogue(s) for interested parties to see, across the globe.
So is E-commerce only for B2B? Are there B2C examples?
This is where it all gets more interesting. E-commerce in the B2C mode has been much prevalent outside India in the past. However, now it is catching up here as well. Though there are issues of online security constantly raised and addressed, but e-commerce is becoming a power to reckon with.
With the recent growing popularity of deal sites like: Groupon, DealsnYou, Snapdeal etc, the B2C e-commerce sure is gaining momentum. The initial trends have been only in the urban cities, but with mobility spreading across regions, increasing consumerism is sure going to make an impact.
But are products really selling?
For emerging companies, investing into internet technology has always been a time consuming decision. Though SMEs are well informed today, but the lack of strategic thought hampers the growth. There are many companies who have leveraged the services of online medium and reached pinnacle of success.
There are many examples in the Indian context. One is flipkart.com, a major online bookstore. It started its business with a single focus on selling books but has now branched out into various other streams such as mobiles. Since then they have had a fantastic run online. Do we need say more?
But what lacks then, if its that simple? B2C E-commerce must have touched sky high?
In India, the transactional infrastructure including security is still being discussed and this is one point which has been a drawback for the B2C E-commerce. But as part of the evolving ecosystem, things are changing and with the consumer's being more educated, online consumerism is increasing in India.
Are there examples of online tools for increasing Sales?
In terms of Online Applications in the B2B space, the various E-commerce sites are:
- IndiaMART.com
- Trademart.in
- Alibaba.com
- ecplaza.net
For SMEs, engaged in the B2C domain, there are various successful networks as:
- ebay.in
- indiaplaza.in
- shopping.rediff.com
- naaptol.com
- shopping.sify.com
- homeshop18.com
As the world is evolving, online platforms are here to stay. Consumerism will slowly move online and hence as an SME, this is one change your business must adapt to.
The information has been sourced from 'Free for SMEs' report issued by IAMAI (Internet and Mobile Association of India) in collaboration with IndiaMART.com.
IndiaMART Knowledge Services team will be happy to extend help in educating SMEs and help them towards their growth. Drop in a comment to this post and our experts will be happy to get in touch!
IndiaMART Knowledge Services team will be happy to extend help in educating SMEs and help them towards their growth. Drop in a comment to this post and our experts will be happy to get in touch!
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