Every June 27th, we celebrate Micro, Small, and Medium Enterprises (MSMEs) on MSME Day. These businesses are the backbone of our economy, driving innovation, creating jobs, and fostering vibrant communities. 

 At OpenText, we recognize the unique challenges faced by MSMEs. Often, MSMEs lack the resources of larger corporations, yet they need enterprise level integration to compete in the global marketplace. This is why we at OpenText continue to develop easy EDI integration solutions that are both affordable and flexible to the needs of MSMEs.  

What is MSME Day? 

In 2017, the United Nations General Assembly established MSME Day to raise awareness about the importance of micro, small, and medium-sized enterprises. This day also provides a platform to recognize and celebrate the remarkable impact of MSMEs worldwide. The resolution was co-sponsored by 54 member states, representing over 5 billion people.  

Why celebrate micro, small, and medium enterprises? 

MSMEs make up a staggering 90% of businesses. They create over 70% of jobs and contribute to half of the world's GDP. As such, MSMEs have a significant impact on the global economy. They play a crucial role in driving innovation, job creation, and in achieving sustainable development. By supporting and empowering MSMEs, we can harness their potential to create a more inclusive, resilient, and prosperous global economy. 

What are some of the unique challenges of MSMEs? 

Despite being the backbone of many economies, MSMEs face a multitude of challenges, including limited resources in workforce, technology, and infrastructure and access to affordable financing. These make it hard to compete with larger players. Many MSMEs haven't been able to fully embrace digital technologies that could revolutionize their efficiency and customer reach. Finally, external disruptions like economic downturns, supply chain disruptions, and natural disasters pose a constant threat to their stability. 

OpenText empowering MSMEs 

At OpenText, we empower MSMEs with easy EDI integration services and solutions. With over 30 years of expertise managing EDI and B2B programs of all shapes and sizes, we’ve seen it all. We handle thousands of customer requests monthly, and that knowledge underpins every project we undertake. 

Here’s how OpenText helps MSMEs overcome digital transformation roadblocks:  

• Rapid deployment: With over 1,400 customer support resources at your disposal, we ensure your project is staffed and executed based on a clear, mutually agreed-upon timeline. 
• Flexibility and customization: Our solutions maximize your business efficiency by customizing our supply chain capabilities and ERP integration adapters to your needs.  
• Real-time visibility: Gain instant visibility of all EDI transactions, optionally integrated within your ERP user interface for a more streamlined user experience. 
• Expert support: Empower your in-house IT staff with easy self-service tools and call on any level of EDI-as-a-service (aka managed service) support. 
• Scalability and Futureproofing: Grow your business with a budget-friendly enterprise-level platform that can expand functionality and service as needed. 

Join the celebration and embrace growth 

MSME Day is a time to celebrate the incredible achievements of small businesses. But it's also a call to action. Learn more about OpenText and discover how to overcome EDI integration hurdles to unlock new levels of efficiency and growth. 

Happy MSME Day! 

The post MSME Day 2024 – Celebrating the engine of our economy appeared first on OpenText Blogs.