The media and entertainment businesses in India in the MSME sector are higher on the overall digital maturity index while sectors like retail, education, hospitality are lower. As per a recently launched report by Vi Business, more than 60 percent businesses in media and entertainment.
As per the report, these companies leverage technology to deliver content faster to their customers while enhancing collaboration between employees and customers.
Talking about the digital readiness of media and entertainment sector, findings of the ‘Unlocking MSME Growth Insights Study 2023’ said over 60 percent companies in the segment use cloud-based applications for enhanced productivity. Then, around 92 percent provide postpaid mobility connections to employees. Lastly, 50 percent MSME media and entertainment companies employ digital marketing methods for effective customer outreach.
Overall, collaboration and productivity, security, cloud, and IoT are four technology areas that are helping MSMEs become more digitally mature, said the report.
The top five characteristics displayed by companies which are high on digital maturity, for instance the media and entertainment companies include founder/business owner participation in digital transformation, digital as a culture, technology based tracking of business operations, complete system integration and active adoption of technologies.
This assessment of digital maturity of India’s MSME sector, covered nearly one lakh respondents across 16 industries including media and entertainment, manufacturing, IT and ITes, education, logistics, professional services, banking, construction, mining among others.