Growing companies often look to developing markets for new opportunities; however, finding the right time to enter these markets can be a difficult balance. Recent research from Oxford Economics, sponsored by SAP, suggests that less than one-quarter of U.S. small and medium enterprises (SMEs) will be operating solely in the U.S. in three years. While SMEs are expanding their presence at a rapid rate in new markets, BRIC countries (Brazil, Russia, India, and China) are becoming old news: the acronym has been amended by many economists with “S” for South Africa, and lately, “I” for Indonesia. Other countries like Turkey and South Korea are ripe for entry even though they were hardly considered just a few years ago.
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Localize your technology strategy. Locals, even IT executives, likely won’t have the same level of technology maturity as employees in the home office, says Sanchit Vir Gogia, founder and Group CEO of Greyhound Knowledge Group, an IT research and advisory firm focused in emerging markets.Ensuring that resources match the skill level of the employees can help reduce the need for additional IT support or wasted resources. In Thailand, a subsidiary started with a mobile app for factory workers so that they could check on inventory status while on the shop floor instead a full-blown desktop app. “A lot of these people are not educated in technology but using a mobile app is very easy for them to learn.”
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