Hyderabad: Recordent, a fintech platform that addresses accounts receivable challenges for SMEs, plans to conduct over 100 knowledge meets, engaging with more than 10,000 SMEs nationwide.
These events are designed to analyse and streamline the payment collection practices for SME sectors. The initiative will begin events in Mumbai, Hyderabad, and Delhi.
Over 90 per cent of the SMEs experience delays in payments, impacting business operations and continuity. Recordent aims to address collection issues within the industry by collaborating with industry associations, start-ups, enterprise unions, and SME executives. Focus will be on adopting new industry practices to enhance accounts receivable collections and manage credit exposure and risk, according to Winny Patro, chief executive officer, of Recordent.
The outreach will check buyers' credit history to deal with defaults.
Recordent offers accounts receivable collections and credit risk management solutions including reminder automation, invoice management, CIBIL-like credit registry reporting of defaults, cautionary and legal notices for recovery, collections analytics, and credit bureau reports for credit assessment. It has over 68,000 businesses on its platform, a release said.
