SMEs use ERP to manage their day-to-day business transactions, still there remains a gap that needs to be solved. SMEs still need to juggle from ERPs to banking software to match or reconcile a transaction. The process also becomes cumbersome for them.
Due to the problem faced by SMEs, there arises the need for a platform where they can manage their payments, collections, inventory, and working capital.
Hylobiz is a B2B fintech platform, which offers businesses to integrate their existing ERPs on its platform at zero integration cost.
Hylobiz aims to solve the pain point of SMEs, as on the Hylobiz a business can digitize all its payables and collections. SMEs need not chase their invoices as it sends automated reminders when payment becomes due.
It helps in improving collection efficiency as it offers multiple payment options to pay. Also, create an invoice of your choice on the platform and send invoices with payment links attached to them.
At the Hylobiz dashboard, businesses get real-time updates on business health, cash flows, and various other business reports. It helps in decision-making and supports auto reconciliation into ERP.
At its API marketplace, a business can avail of business loans at lower rates from its partner Bajaj Finserv and Neogrowth credit private limited. It also offers bill discounting and SME credit cards, which help in boosting working capital.
Hylobiz can help you to grow and manage your business efficiently.
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Read the blog originally published : https://hylo.biz/how-does-hylobiz-support-smes-in-uae-to-boost-and-digitize-collections/