Running on AWS, the suite offers a broad selection of business software focused on SMBs from seven AWS Partner Network (APN) Technology Partners in areas such as accounting, customer support, and human resources. The launch of the Amazon Digital Suite builds on Amazon’s commitment to digitise 10 million Indian SMBs by 2025, announced in January 2020.
Puneet Chandok, President – Commercial Sales, AISPL, AWS India and South Asia said that such a solution offers a great value proposition for SMBs. “It allows easy access with a familiar Amazon marketplace, both on their mobiles and desktops without having to spend time and resources to search across multiple sources for such solutions. Secondly it is affordable as the suite offers prices as low as Rs 20 and up to 75% discount, besides other exclusive benefits. There is also a low exit barrier as a lot of SMBs want to try things and none of this would require any long term commitments,” he stated.
The Amazon Digital Suite comprises payment and credit solutions from Razorpay; customer support and customer relationship management (CRM) solutions from Freshworks; human resources and payroll management solutions from greytHR; tax compliance and invoicing solutions from ClearTax; accounting and productivity solutions from Zoho; e-commerce and retail order management solutions from Vinculum; and digital ledger and online cataloging solutions from OkCredit.
Chandok added that the emphasis would also be on simplicity and support which matters a lot for SMBs. “It comes with priority onboarding and dedicated support to make sure that the SMBs’ technology experience is seamless and that we really hand hold them as they start adopting these softwares.”
SMB spend on public cloud services is expected to contribute more than 29% of the $7.9 billion public cloud services market in India in 2024, according to IDC. However, SMBs face significant challenges in acquiring new customers, adhering to changing tax compliance requirements, gaining insights from customer data, and addressing a widening digital skills and knowledge gap. “SMBs in India are planning to increase their investments in cloud, driven by the need for faster speed to market, application performance and access to data. Close to 40% of SMBs plan to significantly increase their cloud spend, and a cloud provider that can support these businesses through this journey will become the right partner of choice,” said Rishu Sharma, Principal Analyst, Cloud and Artificial Intelligence, IDC India.
Talking about the significance of SMBs in the growth of India’s economy, Vedanarayanan Vedantham, Head – SME Business, Razorpay said that the sector needs help with adequate engagement and nurturing. Digital adoption trends, he said, have accelerated in the last 9-12 months. “The persona of the average SME who is gravitating towards digital payments has fundamentally changed. Most of the SMEs which are embracing the post pandemic new digital world order are first time users of digital. Small businesses, now more than ever, are waking up to the possibilities offered by digital, and need help assembling this puzzle. The launch of this new product offering will empower millions of SMBs of any size, and make it possible for them to reach new customers around the world.” he stated.
Vedantham also highlighted that another interesting trend noticed was that while the SME business at Razorpay had gone up by more than five times in the last 12 months, more than half of the sales team interactions with SME merchants had been in local vernacular languages.
The Amazon Digital Suite is available for purchase on Amazon.in and Amazon.in/business for both business-to-consumer (B2C) and business-to-business (B2B) customers respectively. B2B customers purchasing products from the suite using their Amazon Business Account will receive exclusive offers and a GST invoice for input tax credit. Customers purchasing the Amazon Digital Suite during Amazon Smbhav 2021 from April 15-23 will be eligible for discounts of up to 30% in the Amazon Digital Suite store.