Globally, SMEs are important to national economies because they create jobs, generate value, and support innovation. The pursuit of environmental sustainability and more inclusive growth depends heavily on SMEs. SME contributions can be strengthened with better access to global markets and knowledge networks, but barriers to trade and investment weaken SME participation. Also inadequate physical and ICT infrastructure prevents SMEs from operating effectively and gaining access to global markets at competitive prices.
And in order to solve these issues, companies require a platform that will benefit them in the long run and enable them to lead in this cutthroat environment.
Here are a few platforms that are helping small businesses to thrive in the long run.
Keka: Founded by Vijay Yalamanchilli in 2015, Keka is the leading HR tech platform in India helping small and medium-sized companies and established itself as an expert in the SME segment. The software helps HR teams spend less time on mundane tasks and focus more on the vital assets of any organisation: the people. Keka streamlines and automates payroll, recruiting, leave & attendance, performance management and more with ease. It has managed to leave an indelible mark with a reach of 6500+ customers across various sectors, including IT services, pharmaceuticals, manufacturing, professional service organisations, accounting, taxation, fin-tech and others. It currently runs the payroll of 1.5M employees across the world.
Rubique’s : Leading financial online matching platform Rubique’s offers a large selection of loan, credit card, and insurance solutions to satisfy any financial desire in the easiest, quickest, and most convenient manner imaginable. Rubique’s online credit marketplace platform, which is built on an AI-based recommendation engine, has been integrated with the systems of financial institutions to allow for real-time processing and to give users access to online approvals. As a maker platform (B2B), Rubique creates technological (/topic/technology) solutions for other stakeholders, such as white label solutions for financial institutions and TAB solutions to simplify the loan procedure for SMEs (/topic/smes).
Tally Solutions: SMEs have received assistance from Tally Solutions for more than 35 years. TallyPrime, which enables MSME owners and business owners to increase their business productivity, was just introduced. The GoTo and SwitchTo solutions from TallyPrime assist SMEs in learning new company management strategies. Data entering is made easier by its GoTo feature. The product is scalable and will make it simple for users to switch to and embrace new releases without having to upgrade their skills or learn new procedures. Currently, it has two million SMEs paying for its accounting software, and during the past three decades, around five million SMEs have utilised it. Over six million users from various industries and more than 100 countries are served by Tally.
Vyapar app: A business accounting software, introduced in 2016 to help micro and small enterprises with invoicing, inventory, accounting requirements, and more. SMEs may use this software to become GST-compliant, manage all stakeholders from a single location, and rapidly assess how their firm is doing. This programme facilitates offline, internet-free business bookkeeping and the creation, printing, and distribution of personalized invoices.
PayU : One of the solutions that helps SMEs increase operational effectiveness, increase customer comfort, and cut expenses is PayU. 100,000 new SMEs merchants joined the company during the April–June quarter. PayU launched a number of programmes to aid SMEs during the pandemic and lockdown. Data science is being used by the business to better understand its customers. To assess a customer’s “worthiness,” a set of models that take into account both ability and willingness to pay are used. Their customer support chatbot makes use of a bespoke NLP model created utilising historical data from human service interactions. PayU combines traditional data sources such as customer repayment behaviour, banking, and bureau data in addition to customer platform and app interactions, consumer spending trends, and other information.
