Hyderabad: Recordent, a leading fintech platform dedicated to transforming accounts receivable challenges for SMEs across India, announces its plan to conduct over 100+ Knowledge Meets, engaging with more than 10,000 SMEs nationwide. These events are designed to analyze and streamline the payment collection practices for SME sectors, addressing challenges in cash flow management and credit awareness. The initiative begins with inaugural events in Mumbai, Hyderabad, and Delhi.
Recognizing the pivotal role SMEs play in driving economic growth and fostering entrepreneurship, Recordent highlights a concerning trend: over 90% of SMEs experience significant delays in payments, impacting business operations and continuity. Collaborating with Industry Associations, Startups, Enterprise unions, and SME executives, Recordent aims to address collection issues within the industry. Discussions will focus on adopting new industry practices to enhance accounts receivable collections and manage credit exposure and risk using payment data. With a mission to empower SMEs through digital transformation and improved cash flow management, Recordent is committed to fostering their growth.
Moreover, these events will serve as valuable networking platforms, enabling participants to gain insights and build connections within the industry. Recordent brings together SME Leaders, including its customers, to explore practical strategies and technological innovations for overcoming these obstacles.
“Commenting on the development, Mr Winny Patro, CEO of Recordent, said, “Over 90% of Indian SMEs face cashflow challenges triggered due to extending credit to buyers, hindering growth and escalating failure rates. Our SME outreach strategically addresses this challenge head-on. By providing a comprehensive suite of solutions, from checking buyers’ credit history to dealing with defaults, we are committed to empowering SMEs to navigate cashflow challenges and seize growth opportunities. Through this initiative, we aim to empower SMEs to make informed decisions and achieve sustainable business growth, thus playing a pivotal role in driving India’s economic development.”
Recordent offers a comprehensive suite of accounts receivable collections and credit risk management solutions. This suite includes payment reminder automation, invoice management, CIBIL-like credit registry reporting of defaults, cautionary and legal notices for recovery, collections analytics for informed decision-making, and credit bureau reports for credit assessment. There are a total of 68,000+ businesses on the Recordent platform including more than 11,000+ sellers registered, to improve their collections & financial health.
