Earlier If a business was not able to manage its working capital then also it was not able to survive in long run but in today’s world a business can optimise its working capital with the help of cutting edge technology solutions provided by fintechs.
Technology has changed the financial services sector drastically and has added value to the small businesses by making their business more efficient and profitable.
These days a business can easily collect payments from its buyers , it can place order with suppliers on the go , also a business can get working capital loan from their phone only and at competetive rates as well.
Hylobiz a Neobanking platform for SMEs offers connected banking services with which a business can easily collect payments, make payments to its suppliers and can reconcile as well. Hylobiz also offers an API marketplace where a business registered with hylobiz can easily avail services like working capital loan , invoice discounting etc.
Hylobiz has also partnered with Bajaj Finserv and Neogrowth credit Private ltd. to make working capital loan accessible to SMEs.
Read the blog originally published here : https://hylo.biz/how-fintechs-can-help-companies-optimise-working-capital/