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As per the study, there is a significant increase in investments for
"With limited spending resources due to recent economic conditions, it has become even more important to see where the pain areas of these verticals lie," says Ghose. For instance, the FIRE sector today accounts for about 6% of the Indian SMB segment, and close to 10% of IT/telecom spending. Other than the large enterprises that have always been at the helm of technology adoption, Indian SMBs in this segment are continuously coming up with innovative product portfolios, and intend to move to the next wave of IT adoption.
The key IT spends drivers for this segment include capabilities to offer value-added services to clients, gaining a competitive edge, excellent connectivity, and access to information. Security is another thrust area for them. Some of the key security requirements on this front for these companies include enhancing IT security and privacy via firewall, encryption, and antivirus. Around 73% of FIRE SMBs are spending in these solutions. "Other areas of interest are line of business software to improve daily operations, increase in efficiency, and reduction of dependence on manual intervention. In the last six months, 79% of FIRE SMBs have invested in business intelligence, data mining and analytics solutions," says Ghose.