5 steps to build a working capital plan for SMEs

It is important to plan working capital efficiently to manage operational expenses and to meet long term funding requirements.

Let us understand the steps towards building a working capital plan for SMEs

1. Analyze the long term and short-term fund requirements

2. Analyze scenario

3. Review, analyze and automate account receivables and payables

You can create, upload, and send branded invoices. You can collect payments digitally through multiple payment modes supported by automated payment reminders. The integrated payment solution on Hylobiz enables you to pay out on time. The static payment links can enable you to collect fixed amounts from multiple clients at regular intervals or in a certain period.

4. Evaluate the access to working capital and find the funding sources and alternatives

Hylobiz ke saath you can access working capital loans from its lending partners Bajaj finance and Neogrowth Credit Pvt Ltd. The real time dashboard and automated reports display the accounts receivable which acts as a collateral for loans

5. Update the plans on regular basis

Suggested read:

https://hylo.biz/how-can-smes-optimize-and-improve-working-capital/

Hylobiz automates and improves your working capital efficiency and offers quicker, faster, cheaper and easier access to business working capital loans to strengthen your capital.

Click here to avail loans from Bajaj Finserv.

Connect: support@hylo.biz.

Read the blog originally published here : https://hylo.biz/5-steps-to-build-a-working-capital-plan-for-smes/

SME NeoBanking products — Payments receivables, Payables and Credit scoring for SME.