The rapid pace of technological advancements offers SMEs (Small and Medium Enterprises) an unprecedented opportunity to expand beyond borders and strengthen their business models. This was the focal point of a highly engaging panel discussion featuring industry veterans, Yogesh Rajawat CISO & Head- IT, XSCAD India; and Narayan Sahu Regional Head- West Region, Schneider Electric. Moderated by Prabhu Ram, Head – Industry Intelligence Group, CyberMedia Research the session explored how SMEs can leverage technology to scale up globally, addressing challenges and offering practical strategies to embrace digital innovation.
Setting the Context: Why Go Global?
Prabhu Ram kicked off the discussion by framing the challenges faced by SMEs in their quest to expand globally. Drawing from his extensive experience in corporate leadership and entrepreneurship, he set the tone for the session with a simple yet profound question: “Why do you want to go global?”
He stressed the importance of self-reflection for businesses, urging them to first accept the need for change before embarking on their transformation journeys. Prabhu Ram shared a compelling case study from the fashion industry, illustrating how a local manufacturer transformed into a global brand through a strategic adoption of digital tools like Shopify, Google Ads, and cloud technology. His message was clear: “The first step is acceptance. The second is taking external help to leverage the right technologies.”
The Role of Digital Transformation in SMEs
Following Prabhu Ram, Yogesh Rajawat, CISO & Head of IT at XSCAD India, provided insights into how digital transformation has redefined the working dynamics for SMEs. He highlighted how cloud adoption during the pandemic allowed companies like his to not only survive but thrive. For XSCAD, a CAD-based organization, transitioning to the cloud meant breaking geographical barriers and allowing employees to work remotely from anywhere in the world. This not only increased productivity but also enabled the company to tap into a larger talent pool, overcoming traditional geo-fencing limitations.
Yogesh emphasized that digital transformation is not just for large organizations but can significantly impact smaller companies by streamlining operations and reducing costs. He noted, “Those decisions taken during the pandemic have saved the organization. Today, our performance and productivity are higher than ever before, thanks to digital innovation.”
Digital Innovation: A Game Changer
Narayan Sahu, Regional Head at Schneider Electric, then brought the conversation to the importance of digital innovation. He emphasized that digitization not only improves efficiency but also gives SMEs a competitive edge. Drawing from his company’s experience, he explained how adopting digital infrastructure can help secure business operations and increase operational efficiency.
Narayan pointed out that the SME sector contributes 40% to India’s economy and employs 60% of the workforce, making it crucial for the overall growth of the nation. He said, “Digital innovation helps businesses compete more effectively by reducing dependency on manual labor and increasing efficiency.”
Cricket and Digital Transformation: A Simple Analogy
One of the standout moments of the discussion came when Ram used cricket as an analogy to explain the different stages of digital transformation. He compared early cricket, played without any technology, to today’s game where data analytics, smart bats with sensors, and fitness tracking have revolutionized the sport. Similarly, businesses must embrace these levels of digital transformation to evolve and remain competitive.
He broke down digital transformation into three categories:
- Digital Innovation – Initial steps like data analytics.
- Digital Transformation – The comprehensive integration of technology into business processes.
- Digital Acceleration – Scaling these innovations to maximize results.
Strategic Approaches to Digital Innovation
Sunil Khosla, Founder of The Smiling Souls, elaborated on the need for a cultural shift within organizations. He pointed out that many SMEs still hesitate to adopt new technologies, fearing the costs and disruptions to their existing operations. However, he argued that without this transformation, businesses would struggle to grow.
Sunil also emphasized the importance of taking external help and researching the right technologies. “You cannot do everything on your own,” he stated. His key advice was for businesses to align themselves with partners—whether technology providers like Schneider Electric or other industry experts—who can guide them in the right direction.
Key Takeaways for SMEs
The session concluded with practical insights for SMEs on approaching digital innovation strategically. The panelists shared these key takeaways:
- Embrace Change: The first step towards digital transformation is accepting that change is necessary for growth.
- Seek External Expertise: SMEs should not hesitate to seek external help to navigate the complexities of digital transformation.
- Adopt the Right Tools: From cloud solutions to digital marketing, SMEs need to invest in the right technologies to compete globally.
- Plan Strategically: Understanding the difference between digital innovation, transformation, and acceleration can help SMEs plan their digital journeys effectively.
- Partner for Success: Collaborating with experts and partners like Schneider Electric can provide the necessary support to ensure a smooth transformation process.
Conclusion: The Path to Global Expansion
As the panel discussion drew to a close, the overarching theme was clear: digital transformation is no longer a choice but a necessity for SMEs looking to go global. The speakers urged businesses to embrace this change, seek external expertise, and strategically invest in digital infrastructure to unlock new growth opportunities.
Ram wrapped up by offering to engage with the audience during the Q&A session, promising personalized advice for those keen on taking their businesses global. The insightful conversation left attendees with a roadmap to navigate their own digital transformation journeys, empowering them to move from local success to global leadership.
Watch the full session here: https://youtu.be/9Tz_HW01wxk
