{"id":3427,"date":"2021-12-17T14:07:45","date_gmt":"2021-12-17T14:07:45","guid":{"rendered":"https:\/\/news.sap.com\/india\/?p=3427"},"modified":"2023-08-14T17:34:31","modified_gmt":"2023-08-14T17:34:31","slug":"creating-business-resilience","status":"publish","type":"post","link":"https:\/\/news.sap.com\/india\/2021\/12\/creating-business-resilience\/","title":{"rendered":"Role of Technology in Creating Business Resilience in Mid-Market Companies"},"content":{"rendered":"

In many ways, India\u2019s mid-market segment is considered the growth engine of the Indian economy. But it was severely impacted by the pandemic, especially the second wave.\u00a0<\/span><\/p>\n

As operations and movement of goods came to a halt, suppliers could not fulfill orders. The consequent demand-supply mismatch and falling inventory levels became a challenge. With a high percentage of the workforce not being able to report to work, overall productivity was impacted, as many processes were still manual. The quality of products\/services was also affected, and regulatory and compliance issues loomed large.<\/span><\/p>\n

An\u00a0IDC Infobrief commissioned by SAP<\/a>\u00a0aims to understand the state of the mid-market segment in the aftermath of the second wave of COVID-19.\u00a0<\/span><\/p>\n

Covering six different industries, the study was comprehensive in representing the importance of technology for an industry. The study covered over 350 mid-market enterprises – across chemicals, industrial manufacturing, life sciences (including pharma and pharma manufacturing), professional services (including IT\/IT-enabled Services), retail and consumer packaged goods and EC&O (engineering, construction, and operations) industries. These enterprises reported annual revenues in the range of INR 500 crore\u2013INR 2,000 crore. Among the respondents, more than half were C-level executives; the remaining occupy roles such as Director and above in their organization.\u00a0<\/span><\/p>\n

Companies that had pivoted on technology were able to cope with disruptive forces. Indeed, successive waves of COVID-19 have brought the importance of technology in businesses to the fore, as lockdown measures across the world disrupted supply chains.\u00a0<\/span><\/p>\n

Those ahead in the technology adoption curve raced to build digital resiliency\u2014the ability to adapt rapidly to business disruptions by leveraging existing digital capabilities to restore business operations as well as capitalize on the changed conditions.<\/span><\/p>\n

The study provided interesting insights into digital resiliency and its components, including business and IT priorities of Indian mid-market enterprises, such as:\u00a0<\/span><\/p>\n