What are the resolutions of Hylobiz towards the safety and prospect of SME businesses? The banking business and in fact the entire financial sector saw huge turbulence and challenges due to the difficulty of working from the office in covid times and consequent shuffle with remote working, the growing digital mindedness, and sophistication among customers,...Read More

Hylobiz is a fintech startup that aims to solve the pain point of SMEs by digitizing their value chain. We are currently active in India, UAE, and Bahrain. Hylobiz aims to digitize and simplify SMEs ‘ value chain with its high-tech solutions, which can also help businesses to improve their business efficiency and ROI. With...Read More

In this fast-changing environment, a business needs growth and stability for its existence. A businessman pays attention to sales and profitability, but they lag in the collection, which gives birth to many problems. If the collection process is not efficient, the business can face many operational changes, sometimes which may lead to the winding up....Read More

A compilation of our Quora answers related to Fintech The fintech industry is one of the fastest-growing industry and its adoption rate in India is significantly high. Fintech caters to multiple sectors and industries like education, retail and business banking, investment management, agriculture, dairy, small businesses, and so on. MobiKwik, Hylobiz, Paytm, PhonePe are some...Read More

Are payments and collections the primary causes of nightmares related to your business? Do you feel your business suffers a dearth of capital obstructing growth and its potential underutilized? Are you tired of handling multiple ERPs, users, and accounts and managing data in silos? Are the labour-intensive time-consuming accounting and business processes dragging your resources...Read More

Businesses use ERP/business tools to manage their day-to-day transactions, which serves the purpose of accounting and recording. SME businesses usually work in silos as they handle multiple ERPs, accounts, users, and payment gateways. Difficulties faced by SMEs in their day-to-day business: Juggle between different software to record and reconcile a transactionChasing invoicesInefficiency in collectionRaising invoices...Read More

With technological advancement, we’ve seen many changes in the banking sector. The lending segment has seen a transformation like never before. The reasons which led to this change are : ⦁       Advancement in technology ⦁       Building better customer experience Due to the problems faced by consumers in lending from traditional institutions, digital lending is gaining...Read More

Fintech or finance technology companies have ushered a remarkable growth in the finance sector contributing to significant empowerment of SME businesses. It is difficult to manually capture the financial picture of a business accurately. The important aspects of a business like recording financial data, tracking transactions, handling multiple ERPs and accounts, payments, collections, managing invoices,...Read More

Small and medium businesses constitute more than ninety percent of the registered businesses in UAE, despite being the largest contributor to the country’s growth and employment, access to finance remains the key challenge for them. SMEs face many kinds of challenges to meet their financial gap, as they’re not able to secure funds from the...Read More

With digital transformation, fintech has altered the financial sector. The banks and NBFCs no more treat Fintech as a threat and rather consider collaborating with them for building trust and for serving customers better. 2021- the year of bank and fintech partnership With disruption brought in by Covid 19 pandemic, the fintech with modern tools...Read More

Irrespective of the industry it operates, maintaining profitability and managing working capital efficiently are important for every SME business to survive and gain competitive advantage. SMEs face multiple challenges while managing their working capital. Managing financial detail, tracking financial transactions and reports, managing receivables and payables, managing invoices, payments, and collections manually are just tedious...Read More

In every economy, small and medium enterprises are the major contributor to its GDP and employment generation and especially in developing economies. They are the biggest contributor to the growth of an economy. To manage a business efficiently and effectively a business needs to monitor its working capital closely because it acts as a key...Read More

Working capital is the amount used by a business to meet its day to day operations, it represents the financial health of a business. Generally Working capital amount is derived by subtracting current liabilities from current assets of a business. Working capital formula = Current assets – Current liabilities Working capital is of prime importance...Read More

Are you an SME business owner trying to plan your business working capital effectively? Perhaps you have realized that gaining revenues and acquiring more clients are just not enough to get sufficient working capital. It is important to plan working capital efficiently to manage operational expenses and to meet long term funding requirements. Significance of...Read More

The Fintech industry bringing in financial innovation, in UAE, is growing at a rapid pace. With digital and technological advancement and innovation, a Fintech can accelerate the growth of other businesses, especially in connection with SMEs and entrepreneurs across industries.In January 2021, the Saudi Central Bank “SAMA” announced open banking policy” allowing the fintechs to...Read More

If a business is not able to pay its vendors, staff salaries and also not able to collect its receivable from customers, then the business will not be able to survive in the long run as the business is inefficient to manage its working capital. Every business should give immense importance to working capital as...Read More

Joseph, a small business owner based out of Bengaluru was in trouble to pay off his shop rent , electricity bills and other day to day expenses as he was not able to manage his inventory, receivables and cash. Here the problem faced by Joseph is inefficiency to manage working capital. In the same way...Read More

SME businesses in UAE saw a steep fall in cash flow with COVID 19 pandemic. According to a study done by PWC (https://www.pwc.com/m1/en/publications/working-capital-2020.html ), in the first half of 2020, there was 23% deterioration in the average working capital performance of surveyed companies. What were the key drivers affecting the working capital of SMEs during...Read More

CASH FLOW AND ITS IMPACT ON SMEs Cash flow is the total amount of money being transferred into and out of a business. Cash Flow is often known as ‘lifeblood of a Business‘. For SMEs Managing Cash Flows is as important as focusing on Growth and Profitability because many businesses fail due to Cash Flow...Read More

Reconciling or matching the incoming/ outgoing invoices with the debit or credit transactions is highly important for every business to maintain cash flow, to avoid fraud and to overcome human errors. Reconciliation is a labour-intensive process, needs hours of hard work, patience and understanding and needs to be automated with the aid of a powerful...Read More