HYDERABAD: Fintech firm Recordent announced on Thursday its plan to host over 100 Knowledge Meets, engaging with more than 10,000 SMEs across India. These events aim to analyze and streamline payment collection practices for the SME sector, addressing challenges in cash flow management and credit awareness. The initiative will kick off with inaugural events in Mumbai, Hyderabad, and Delhi.
Recordent highlighted that over 90% of SMEs face significant payment delays, affecting business operations and continuity. By collaborating with industry associations, startups, enterprise unions, and SME executives, Recordent seeks to tackle collection issues within the industry. Discussions will focus on adopting new industry practices to improve accounts receivable collections and manage credit exposure and risk using payment data.
These events will also serve as valuable networking platforms, allowing participants to gain insights and build connections within the industry.
Winny Patro, CEO of Recordent, stated, “Over 90% of Indian SMEs face cash flow challenges due to extending credit to buyers, hindering growth and increasing failure rates. Our SME outreach strategically addresses this challenge head-on. By providing a comprehensive suite of solutions, from checking buyers’ credit history to managing defaults, we are committed to empowering SMEs to navigate cash flow challenges and seize growth opportunities.”
Recordent offers a comprehensive suite of accounts receivable collections and credit risk management solutions. This 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.