Mar 24, 2017

Digital technology can help businesses increase revenues by up to 27%: Study

BYPankaj Mishra

Adoption of advanced business digital technologies can lead to increase in revenues by up to 27%, increase in employment by up to 84%, and enhanced access to international markets by up to 65% for small and medium businesses (SMBs), said a joint study by Assocham-Deloitte.
“Digital infrastructure can also help leveraging technologies like telepresence that can reduce the need for business travel and result in cost savings. Increased levels of digital technology use can improve employee satisfaction and collaboration, leading to a more productive workforce,” the study said.
“Digital India is likely to have a significant impact on the profitability and operations of business. Through adoption of digital technologies, companies can consolidate documentation, automate processes and have access to efficient and cheaper information and communication technology capabilities,” said Assocham President Sandeep Jajodia.
In India, it is estimated that employees in SMBs with advanced digital engagement are 8.7 times more likely to collaborate than offline businesses, said the study ‘Digital India: Unlocking the Trillion Dollar opportunity’.
The government has taken several measures to improve ease of doing business in India. Consequently, India has seen an improvement in the global ranking for ease of doing business.
“Services such as eBiz portal, KYC and other e-governance initiatives have started to contribute to the improvement in ease of doing business and this is expected to further improve,” the study said.
The vision and initiatives towards Digital India are expected to boost investment in the digital space in the short term and lead to rise in digital innovation, efficiency and productivity in the long term.

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Pankaj Mishra is a writer of FactorDaily.