Technology adoption and use of online marketplace must for SMEs,

“Majority of SMEs would come online and use self serve models for business in next two-three years” was the key take away from the SME Conclave 2013 organised by in association with TiE Delhi NCR.

The discussions at the Conclave suggested that embracing technology was the need of the hour for SMEs to drive business growth and internal efficiencies.

It was important that SMEs used internet and online marketplaces like to access markets and easily identify buyers, suppliers & channel partners for their businesses. The online marketplace serves as a complete ecosystem that SMEs need and catalyzes business opportunities for them, said a press release issued by IndiaMART.

Social media also emerged as another internet tool that SMEs can adopt to build awareness among their target audiences and also drive engagement, the release added.

The conclave also discussed the need to build a robust business model and a good team before going in for funding; creating a balance in delegation and keeping a control, and understanding own process well first before outsourcing them.