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BLOGS

How Bank and Fintech partnerships work in 2021

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...
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How can Fintech and bank collaborations shape the future of SME businesses?

SMEs being the major contributor to an economy’s GDP, employment, and growth, especially in developing nations. Despite being major contributors, SMEs face many challenges in their day-to-day banking, accounting, and operations. To solve the pain point of SMEs, banks and fintech have joined hands to build tailored-made financial services for SMEs. Where in partnership they...
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Working capital challenges that SMEs can tackle through automation

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...
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How digitization can contribute to working capital in SMEs

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...
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Connected banking with Hylobiz – How to collect payment faster for SME operations in UAE?

Hylobiz believes in growing together and foresees a future where SME businesses in UAE grow with us. Key challenges faced by SMEs High amount of monthly outstanding overduesLot of manual chasing and follow upsManual reconciliation Difficulty of tracking cash and cheque collections Manually reminding customers for payments The strength of automation and innovation on Hylobiz...
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What are some working capital objectives ?

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...
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5 steps to build a working capital plan for SMEs

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...
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How working capital loan can work for your business

Working capital loan is a short term debt financing available to a business, through which a business can meet their day to day operations such as rent payments, payroll and inventory purchases. It can be either secured or unsecured. Working capital loan can be in the form of letter of credit, bank overdraft, invoice discounting...
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what is connected banking

What is connected banking? The future of SMEs in UAE lies with connected banking

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...
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How fintechs can help companies optimise working capital

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...
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Hylobiz Product Update- Chat on Hylobiz mobile app to communicate better on payments and collections

SMEs need multiple communication channels for discussions related to business and to speak mostly about payments and collections. Every communication channel needs to be handled separately and is difficult to keep track of all conversations and payment communications and receipts. Hylobiz team has come up with a solution to build better communication among its users....
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How Technology and automation can support SMEs in efficient working capital management

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...
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6 ways to improve working capital – Hylobiz can help SME businesses in UAE

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...
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How can SMEs optimize and improve working capital?

Raj appeared worried as he pressed his knuckles to his face. He said to our sales team personnel, “We work with limited resources and database management, account maintenance, marketing, planning, and scheduling need primary focus day in and day out. We need to take care of taxes, legal matters and need a steady flow of...
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Tips to get paid faster for SMEs

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...
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What is the best reconciliation software? Hylobiz automated the reconciliation process

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...
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Invoice Reconciliation – Everything a business need to know about it

As a business owner, have you observed irregularities with an invoice? Most businesses know the importance of keeping the accounting clear, but with multiple stakeholders involved, one still faces transaction mismatch, fraud, and human errors. Invoice Reconciliation can help you avoid any such issues. Today’s post will aid in understanding the benefits, issues of invoice...
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6 Benefits of Faster Invoice Collections for Businesses Hylobiz expedites invoice collections in UAE

6 Benefits of Faster Invoice Collections for Businesses – Hylobiz expedites invoice collections in UAE

What makes a business unbeatable? Speeding up the invoice processing is the best way towards making a business invincible. Advantages of faster invoice processing Hylobiz, a Fintech of this era, can ensure faster invoice payment processing for businesses in UAE. You can manage various types of invoices of high volume and can enjoy a good...
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Is It Possible to Achieve Fully Automated Account Reconciliations for SMEs?

The owner of Narayan Enterprise – Venkat Narayan Giri was looking at the ledgers, the accounting team had highlighted a mismatch of 2,34,192.43 INR.  It was month’s end task and usually a mismatch of 10,000 – 25,000 INR was usual, but this time the sum was huge and accounting team has matched every record almost...
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6 benefits of Automated Reconciliation for Businesses

Hylobiz electronically manages the accounting system and automates reconciliation. The Fintech industry has brought in revolution to the banking and finance industries with the use of innovation and technology. Today recording of accounting data and tracking of transactions are not very laborious work. Settlement of payment happens swiftly, and the difficult account reconciliation process can...
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Connected Banking services on Hylobiz, today’s Fintech can facilitate brisk payment and collection in UAE

Fintech industry is seeing a robust growth in UAE with the advent of digital disruption during the pandemic and with the growing affinity towards digital payments among customers. Gone are the days when a business had to wait long for payment clearance by a Bank. A good and efficient Fintech today can enable you to...
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Finding Purpose to a Business – HylobizGiveback

Bill Gates, Azim Prem ji, Melinda Gates, Warren Buffet, Oprah Winfrey – Do you know what is common in all them? They all are successful, recognized and amongst the richest people in the world but what makes them stand out are their constant efforts of giving. They are under the Top PHILANTHROPIST of the world....
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Hylobiz Tally Integration and Hylobiz Mobile App

Hylobiz Product Update – Tally Integration is now more powerful!

Last month was very busy for our skilled development team, we had Advanced Tally features to be released and Hylobiz Mobile App features that  is now loaded with some exciting functionalities, for you to get faster payment of invoices. Hylobiz Tally Integration – Features and Benefits Our Hylobiz Tally Integration is now more powerful and...
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How to reconcile an invoice

How to reconcile an invoice? Hylobiz automates the invoice reconciliation process

Businesses often deal with errors on invoices and in turn experiences fraud or run out of profit. To counter this, businesses need to check and confirm or mismatch every invoice that comes in and goes out of business. The process of tallying the bank statement with the incoming and outgoing invoices so that the accounts...
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Avoid these invoices mistakes and get paid faster

Top Invoicing Mistakes made by Business Owners, that delays the payment and How Hylobiz can help in avoiding them

Invoicing is the heartbeat for businesses! Just as the heart keeps pumping “right fuel” for the body to work and keep going, the invoicing when done correctly can make sure cashflow is flowing and boosting the working capital for any business. But we know, its tedious and requires  focus, time and effort. That’s why our...
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What Are The Different Types Of Invoices And How Hylobiz Can Help create them?

How do invoices differ? As a business owner can I use the same template across all buyers?  Does invoice mention the terms and condition? Do I need to include my bank details? All these questions and many more when a business or accounting team sits to send invoices. Just to make our customers life easier,...
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Cash flow efficiency and lending for secondary distribution network- How Hylobiz builds cashflow efficiency for secondary distribution network?

The net amount of cash that flows in and out of business is termed as cash flow. The cash flow largely depends on business activities in operations, purchases, and payments. The cash flow efficiency of a business is determined by working capital management, inventory management and payment and collections process of a business. Cashflow based...
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Hylobiz Product Update – Bulk Payment, Zoho Invoice Integration and a new avatar to Receivables

One promise we always make to our customers is  Getting Paid on time and hashing the manual job of accounting and tracking. On 20th Mar 2021, Hylobiz skilled team took a step closer to our goal with its new features of simplifying payments for our users. The new features are targeted to help Business Owners,...
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How to get the payments faster? Hylobiz expedites payment collections in UAE

If you are running a business in UAE or are in a team responsible to collect payments, then you might have faced situations when you do not get paid on time. Late payments from clients reduces the flow of fund to the business and you face challenging conditions like unable to pay the suppliers, business...
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Inclusivity at workplace

Inclusivity at workplace – Inclusive work at Hylobiz

Companies today recruit a diverse workforce that includes people of different ages, religions, genders, ethnicity, and work experiences. Most of the organizations today have realized that respecting and appreciating the diverse group of employees is highly important to build a great workplace. To create an inclusive work culture, it is important to embrace unique ideas,...
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