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Chatbots have been gaining a lot of business relevance lately. Here is a closer examination of their usefulness. The advent of chatbot technology has caused a lot of disruptions in today’s market space. Consumer awareness of chatbot technology, a decade ago was limited to AI based applications that could mimic an intelligent conversation. Later, these…
Adapting globalised invoicing standards can be an excellent way to help your company reach new heights. This mode of functioning will make sure that your organisation functions according to the standards of the leaders of the industry. It is a conducive way to let superior functioning patterns trickle down on the way your company goes…
The Ministry of Micro Small and Medium Enterprises (MSME) was set up in the late 1940s as a vocational training center. The primary function then was to provide a means of employment for people who were displaced because of the partition. Later, the Micro Small and Medium Development (MSMED) Act came into being in 2006…
Invoice discounting is a form of short-term borrowing often used to improve a company’s working capital and cash flow position. Invoice discounting allows a business to draw money against its sales invoices before the customer has actually paid, helping in growth & expansion without impacting the books of accounts.
Most businesses inevitably face a cash crunch or two during their lifespan. To tide over such lean periods, a business can opt for financing options available in the market, the most obvious of which is a business loan or alternative financing solutions such as invoice discounting. How is invoice discounting different from a business loan? What are the advantages of it over a regular business loan? Here’s how!
As most of us are aware, a good credit record is of utmost importance. But did you know that it is important for small businesses too? Not only should all owners of the business maintain a good credit record, but every SME too needs to have a healthy credit rating from an authorised agency such as CRISIL. Most people keep delaying applying for a credit rating for their companies because they find the paperwork daunting. We’re here to help you with just that and break down the paperwork involved.
It’s common knowledge that businesses face cash crunches and issues with capital from time to time. With money issues comes a myriad of other issues that may lead to defaulting of loans and economic offences. Such issues can come knocking on your door anytime, whether you are a seasoned businessman or a first time entrepreneur. And nobody wants to find themselves tagged as a “big time” economic offender. So what can you do to ensure that you don’t find yourself in such a situation?
All businesses, at some point of time, would require a financial impetus to help with their expansion goals or capital needs. A popular way to finance this is to avail a commercial loan. But how sure are you that your loan application will be sanctioned by the lender? Here are three factors that one must keep in mind before applying for a Business loan.
CIBIL Score, an ominous term that makes even the most financially aware among us squirm in our seats. Maintaining a healthy credit score is vital to our financial well-being. So, what do you do if your CIBIL score is low? With some time and effort, you can improve your score using the methods mentioned here.