With Government initiatives, and with general awareness and acceptance globally, the digitization of financial system has seen a steep growth in recent time.
With more people paying digitally over mobile phones, credit cards and through online mode businesses are getting highly benefitted as the process involved is generally low in cost, secured and fast.
However, when use of different ERPs and data being available in silos across the line of business does not allow a proper track of account receivables, payables and other important financial data then the relationship of a business with its customer or with its supplier suffers as the communication suffers.
Hence retrieval of amount gets delayed or sometimes create a bad debt situation.
To build and maintain good relations, the integrated, automated, connected, and distributed system of ledger in Hylobiz business banking platform plays a very important role by tracking every bit of accounting data related to your business and helping in effective communication to manage better tracking and collection of payments.
The Fintech platform is successfully bringing revolution to the banking system and enabling the banking marketplace for businesses to avail wide range of services through single window access and track accounting data efficiently.
Hi friend! … If you are running a business or if you are a freelancer or a professional, Hylobiz Receivables section can help you get paid faster digitally without any hassle and help your business earn greater Return on Investment in future.
Hitches that mostly a business face in maintaining accounts and in the subsequent payment collection process-
The account receivables and payables and the debtor or creditor connected in the process are sometimes difficult to track and payment and digital collections process becomes unsmooth.
Mostly our study says that businesses find the following tough to maintain regularly and efficiently-
- Tracking Account receivables and payables
- Invoice maintenance
- Digital Collection and tracking
For maintaining healthy business, managing working capital efficiently is very important. A good track of account receivables and payables can help in good inflow of fund, increase current assets, and get rid of liabilities on time, thus increasing income over expenses and helping in long term plans to give birth to and manage a highly profitable business.
To improve business health efficient management of digital payment collections, invoice management and tracking and communication are the most important elements to be focussed on.
The well-designed intelligent brainchild of highly experienced professionals of Hylobiz can you help you meet your dreams of running a successful business.
Why is Digital Collection so important?
To reach more customers, to gain customer satisfaction, to reduce business expenses and to get paid faster digital collection of payment is highly important.
In today’s world, once you track the amount due to be collected and from whom to be collected, you would mostly prefer to collect them through digital mode to track the payments and communicate to your customers efficiently for effective retrievals and hence to build and maintain longer business relationship.
The Hylobiz integrated platform would surely give a new positive turn to your business and help you manage your digital collections process and allow you grow a profitable business.
The key features of Hylobiz Receivables successfully helping businesses in Digital Payment Collections-
If you are looking for an efficient platform to manage your finances, then this platform is just what you are looking for and you need to register on https://hylo.biz/neobank/Register
The following unique features of Hylobiz Receivables can help your business in digital collections process –
- Link your Accounting Platform
Connect hylobiz with your accounting platform for a complete seamless and automated experience. The integrated platform is highly efficient to track and maintain your accounting data.
- Send invoices on the go
Create or Upload invoices and send them instantly by WhatsApp, SMS, or Email. You will be able to communicate effectively to get paid smoothly and build better business relations through this expert system.
- Itemise your Invoice
You can add items in your invoice and let your customers know what they are paying for. This will help you in building trust.
- Customers can pay using any online payment method
Your customers can pay you using Credit / Debit Card, Net Banking and UPI. Easy and secured payment collection process can help you get paid easily, faster, and hence reach more customers and satisfy them.
- Track Payments Easily
Manage your transactions, reconciliations, and settlements. The system helps you to track and manage transactions and helps to easily get the tedious jobs of reconciliation and settlement done automatically.
- Customized Checkout UI
Get customized checkout User Interface with your logo. This professional touch in the checkout process will surely make your customers feel interested, inclined, and involved
- Customizable Transactional Charges
You may keep the transactional charges or choose to pass them to your customers. You are free to choose how to deal with the charges involved in the transactions.
The efficiently designed dashboard and automated reminders in this Neobanking platform helps understanding the business health and helps to retrieve the dues promptly.
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