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India SMBs Set to Pour Billions into IT Infrastructure

India SMBs Set to Pour Billions into IT Infrastructure

According to AMI Partners Inc., the broader and faster adoption of web development and web hosting among India’s small to medium sized businesses is the primary growth driver in the country’s financial sector. Research gathered by the Information Technology specialist cited that companies in this segment are on pace to spend $1.24 billion in 2009 on their IT infrastructure, numbers that are up by approximately 3.5% over what was spent in 2008. A recent study conducted by AMI shows that significant growth can be seen in the areas of broadband internet, intranet, web hosting services and web development.
The Importance of Maintaing Electronic Records of Transactions

Alankar Joshi, Research Analyst at AMI Partners, said many of the key drivers leading to the rapid adoption of IT among the Indian financial SMB segment are compliance and regulatory demands, competition, evolving security threats and increasing customer expectations. He explained that how today it has become imperative for even the small business to maintain and protect electronic records of their transactions in order to comply with demanding regulatory requirements. Despite the growth, factors such as high implementation costs serve as roadblocks for companies that are concerned about their return on investment.

To get over the hurdles, ISV (independent software vendors) are stepping up to develop customized solutions specifically designed for India’s financial segment. Many SMBs are now investing in these packages to cut costs, streamline critical business operations and maintain better relationships with their customer base. Because most of the larger IT solutions providers are associated with these ISVs, successful business transactions result in a win-win for both parties. The IT vendors save money on developing small, niche solutions and have the opportunity to improve their local partner networks. The independent software vendors are often ensured financial backing from a larger entity along with a broader reach to a greater base of clients. They also get help testing new products as well as discounts for leveraging the IT vendor’s platform to develop applications.

Q-Pulse, the name of AMI Partner’s quarterly SMB tracking study, is conducted in eleven different countries, including the United States, Canada, China, Mexico, Brazil, India, Korea, Germany, France and the United Kingdom. The study closely examines top decision makers within the small and medium sized business segment with a special focus on four key areas:

1.) Economic impact, the company’s mindset and the initiatives they are taking to manage their business.

2.) Their purchase strategies such as planning, spending and branding.

3.) Buying behavior and decision making.

4.) Insights for optimizing market plans such as messaging, value propositions and marketing mix.

AMI Partner’s close analyzation of SMBs in India’s financial industry covers a broad range of areas related to budgets, customer purchasing behavior, channel preferences, influential tools, outsourcing services and support. It also details comprehensive and vitally important approaches to technological advancements and strategic planning initiatives. Ultimately, the data extracted reveals information that equates to essential opportunities for IT vendors and service providers looking to tailor their solutions in accordance to the SMB market.

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