Tuesday, July 16, 2024

Report: WhatsApp shifts focus to Indian MSMEs for next growth phase

WhatsApp’s Focus on Indian MSMEs for Growth and Solutions

WhatsApp is set to be the next big player in helping Indian micro, small, and medium enterprises (MSMEs) grow and thrive. With a focus on providing end-to-end solutions for these smaller businesses, WhatsApp’s ‘small business app’ aims to streamline operations and improve efficiency.

Ravi Gard, the Director of Business Messaging at Meta, highlighted the importance of the Indian market for WhatsApp, especially due to the high number of MSMEs in the country. Larger companies have the resources to build internal platforms for processes like expense management, but smaller businesses often struggle with this. That’s where WhatsApp steps in with features like employee bots that can handle tasks like leave applications and expense claims.

With around 200 million businesses globally using its small business app, WhatsApp is poised for significant growth among MSMEs in India. The convenience of collecting payments, sending invoices, and tracking transactions through the app is a game-changer for these small businesses.

A report by Bain & Company further reinforces the potential of messaging platforms for MSMEs. Consumers are increasingly willing to engage with local businesses through messaging apps, with a significant percentage preferring to connect with grocery stores, restaurants, and service providers through these platforms.

Garg believes that WhatsApp can bridge the gap between consumers and MSMEs, becoming a key player in supporting these businesses. With its user-friendly interface and comprehensive features, WhatsApp is set to be the next messiah for Indian MSMEs looking to expand their reach and streamline operations.

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