WhatsApp To Focus On Indian MSMEs For Its Next Phase Of Growth: Report

Whatsapp, through its ‘small business app’, will attempt to provide end-to-end solutions for MSMEs including client-vendor interface and leave management system.

According to a report by the Bain & Company, there is a large appetite among consumers to engage with MSMEs through messaging platforms.

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WhatsApp in its next phase of growth is said to focus more on the Indian micro, small, and medium enterprises (MSMEs). MSME is a sector which has to always try to deliver the best while working with limited resources that they have. Larger companies have an ample amount of resources at their disposal to enhance their services as per their requirements but WhatsApp is now focusing on the smaller ones to help them with their journey of improvement.

Whatsapp, through its ‘small business app’, will attempt to provide end-to-end solutions for MSMEs. Through this, the instant messaging platform will provide an easy-to-use customer-vendor interface, or leave management system for internal systems like human resources. This in a way would give relief to the MSME and they might not have to hire HRs.

WhatsApp To Be The Next Messiah For Indian MSMEs?

According to a Deccan Herald report, the Director of Business Messaging at Meta, Ravi Gard, said, “India is one of our largest markets in terms of users. And India has the largest number of MSMEs in any country. That is what we are trying to build upon. Larger companies can build their own platforms for internal processes like expense management, leave management etc."

He added that smaller companies may not be able to do that which is why their partners have built employee bots for Whatsapp. Employees can use these bots to apply for leaves, claim reimbursements, etc.

Meta does not usually disclose country-wise data but around 200 million businesses globally use its small business app. According to Garg, a large chunk of such users are based in India and the company expects robust growth for its usage among MSMEs in the country, Deccan Herald quoted him as saying, “We are enabling small businesses to do things like collect money, send invoices, and keep a tab on payments through the app. Collecting payment can be a painful process. Now imagine a PDF of a bill coming to you along with a payment link. That is a simple process and we are evolving pretty rapidly.”

What solidifies Garg's statements about MSMEs getting popular among users is a May 2024 report by Bain & Company which reveals that there is a large appetite among consumers to engage with MSMEs through messaging platforms. According to the report, 70 per cent of the surveyed users have said that they will choose to connect with local grocery stores and place an order, 65 per cent of the users will choose to get their food from local restaurants and 80 per cent of users will prefer to raise service tickets, manage warranty, or request for technician visit or spare part replacement using a conversational platform, reported Deccan Herald.

Garg believes that WhatsApp can play a significant in helping such consumers out by fulfilling their needs.