As the business environment is very dynamic, businesses need to be adaptive to the fast-going changes to sustain in this environment.
Assessing business health involves managing operational, financial, and managerial activities and requires proper planning, execution, and controlling. As many businesses fail to address these different functions because of inadequate teams, improper planning, improper execution, and a lack of better management.
Why is it Important to Manage Business Health?
Streamlining your business operations drives efficiency in the business and helps achieve the business’s goals and vision. Enterprises register good growth in revenue by monitoring their business health.
Reduction in Costs:
Monitoring the business environment provides an edge over competitors. Businesses that manage better relationships with suppliers enjoy extended credit days and handsome discounts that help them reduce costs.
Proper planning with better execution keeps you ahead of the competition. And taking the right decision at the right time can change the fortunes of a business.
Constant health monitoring also supports businesses in making long-term decisions that may include expanding to a new location, launching a new product, or acquiring a stake in another company.
Reduction in Capital Costs:
Keeping the right mix of debt and equity in capital allocation helps bring its capital costs lower.
Automating business processes helps in reducing collection days and promotes positive cash flows. Healthy cash flows help businesses get inventory in bulk, avoid unnecessary debt, and ensure better financial health.
Hylobiz is Ensuring Good Business Health for Businesses.
Hylobiz is a B2B fintech helping the SME value chain by automating invoicing, collections, cash management, and reconciliation.
Hylobiz’s automated solutions help businesses manage their business health by automating their business processes and promoting the financial well-being of the entity.
Hylobiz Contributes to Business Health by Helping Businesses with Operational, Financial, and Business Management:
We help businesses to easily and quickly automate their business invoicing process and allow instant sharing of invoices with attached payment links through multiple digital channels. Online invoice management helps them save money, time, and labor hours and brings efficiency to the process.
ERP and Bank Connect
Without any process change, businesses can integrate their existing ERP and bank accounts onto Hylobiz and can enjoy an improved flow of invoices and collections. We sync invoices from ERP and boost the collection process.
Reminders and Reconciliation
Still, chasing your invoice collections manually? We’ve got you covered. Now collect your unpaid invoices with automated and customizable reminders and improve your collection efficiency by up to 40%.
Is your reconciliation process cumbersome? Switch to real-time and automatic reconciliation with Hylobiz and get a 360-degree view of business finances.
E-invoice and E-way Bill Compliance
Managing compliance helps boost the performance of the entity, wins stakeholder trust, and helps create a brand image in the long run. We help businesses to follow e-invoicing norms under GST and help them create and manage e-invoice and e-way bills on our platform with zero second downtime.
A real-time digital ledger helps you keep track of your collections and payables in real-time and gives you an idea of where your business money is flowing.
Dashboard and Business Reports
Our real-time dashboard is the most loved feature by businesses, as it gives them full control of their business in their palms. The dashboard gives you access to your customer’s payment trends, cash flows, and insights into expenses that help in informed decision-making.
The business reports available on the platform help businesses cut their costs and make future plans.
We are soon launching Good Business Score (GBS) on our platform to help MSMEs with instant health check-ups of their business.
Low-Cost Business Loans
We help you grow your business by supporting you in getting easy access to funds at low costs. We have partnered with Bajaj Finserv to provide you with hassle-free, low-cost business loans.
To ensure good business health, businesses need to manage commerce, cash, compliance, and credit.
To support businesses with commerce, Hylobiz automates business processes with its technology-backed solutions and increases organizational efficiency, saving time, increasing customer reach, and helping them earn extra revenue.
We offer user-friendly solutions suitable for all business sizes that solve their cash management and invoice collections by improving operational efficiency and reducing turnaround time.
Hylobiz also helps businesses manage compliance under GST and offered user-friendly e-invoice and e way
Businesses require cash to grow their business exponentially. Hylobiz helps businesses with easy and quick working capital loans in partnership with Bajaj Finserv.
Hylobiz improves business health by promoting healthy cash flows, improving customer experience, and helping businesses earn a better ROI.
Improve your business health today. Book a demo: https://hylo.biz/book-demo/
Suggested read: https://hylo.biz/avoid-delay-invoice-collection-payment-reminders/
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