In this environment, there is an opportunity for companies to build these systems so that they have near real-time information and control. In today's world, where reaction times are so important, creating these capabilities is extremely important. It gives companies confidence, flexibility and can save cost, which will pay for these investments.

Isn't this also a good time to invest in technologies that bring companies closer to their customers?

In today's environment, the priority has to be on running business efficiently. Once companies have this in place, it's smart to invest in getting closer to the customer.

There are other reasons why companies should invest in technology. India is a young country with a tech-savvy population and just to be able to reach those consumers, companies need to invest in technology or run the risk of missing out on an opportunity.

In a country like India, if companies want to introduce efficiencies and maintain their margins, they have to leverage technology. Technology is the only way companies can provide products and services to remote areas at a reasonable cost. Selling to rural India requires good forecasting, a good supply chain and a good inventory management system. All this requires technology and only then can companies take advantage of market opportunities efficiently.