AI to transform financial management for Indian SMEs, MSMEs
Thes enterprises make up more than 60 million of them, contributing to over 30 per cent of the nation’s GDP and employ more than 110 million people.
Embee Software, a key partner of tech giant Microsoft in licensing solutions, has launched a new initiative targeting the SME and MSME sectors. This initiative aims to empower small and medium businesses in India with cutting-edge technology solutions.
Small and medium businesses contribute around 35 percent of India’s total manufacturing output. This initiative aligns with the Indian government’s vision of a digitally empowered economy and highlights the crucial role of technology in the growth and sustainability of SMEs and MSMEs. The advanced technology will enable these businesses to compete globally, the company stated.
Shivani Sharma, CMO of Embee Software, remarked, “Our goal is to provide access to technology for SMEs and MSMEs, enabling them to compete on a global scale. By empowering these enterprises with tools and solutions, we aim to contribute to India’s economic growth and digital transformation.”
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The core of Embee Software’s strategy involves deploying SAP, a renowned enterprise resource planning (ERP) software by Microsoft. Additionally, Embee Software is integrating other advanced technologies, including cloud computing, data analytics, and artificial intelligence (AI).
“These technologies provide real-time insights and foster innovation, helping SMEs and MSMEs optimize their operations, reduce costs, and improve customer satisfaction,” added Sharma.
India is home to the largest SME market in the world, with close to 75 million SMEs, projected to grow to 95 million or more in the coming years. This sector already contributes over a trillion dollars to the economy.
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