Info-tech

Five platforms facilitating work for SMEs during lockdown

Prashasti Awasthi Mumbai | Updated on May 28, 2020 Published on May 28, 2020

Small businesses in India struggle with challenges galore. From banking and managing business finance to getting access to funds, payments, and even accounting – the list is endless.

Here is a curated list of platforms that facilitate the working of SMEs so that they can surmount the financial impediments:

Open

Open, Asia’s first neo-banking platform for SMEs and start-ups, was founded by fintech veterans Anish Achuthan, Mabel Chacko, Ajeesh Achuthan, and Deena Jacob in 2017.

The company addresses the banking challenges faced by SMEs and start-ups when it comes to managing their business finances. Open offers a business account in partnership with banks that help SMEs automate and run their finances effectively, the company mentioned.

The platform enables businesses to collect payments, do seamless payouts, and automate accounting. It also offers a Runway Analysis Tool, to enable small businesses to check their business runway during these difficult times. Open has over 4,50,000 lakh small businesses registered on its platform.

GlobalLinker

GlobalLinker, a digitisation platform for SMEs, focuses on connecting SMEs with each other so that they can enjoy unhindered networking powered by an algorithm based 'match-making'.

GlobalLinker stated that the SMEs on the platform also benefit from unparalleled economies of scale through collective purchasing power and superior access to business knowledge and skills. SME digitisation happens through the creation of digital business cards, digital business profiles, and an e-commerce store SMEs.

ZipLoan

ZipLoan, a technology-enabled platform, aims to ensure that SMEs can avail of unsecured working capital.

The technology-enabled platform allows SMEs to avail credit in a fast and hassle-free manner, the company mentioned in its website.

“We are solving the fundamental problem of these small business owners i.e. getting easy access to finance when they need it,” ZipLoan mentioned in its website.

Shopmatic

Shopmatic was founded to enable SMEs to take their business online. With the help of technology on a single platform, Shopmatic offers small businesses an e-commerce store, integrated payment, and shipping functions.

NowFloats

NowFloats is a platform that builds cloud-first products to enable SMEs to take control of their online presence and digital experiences.

Small businesses can avail of NowFloats chatbot designer, to put together their own customized chatbot, that can engage with customers in multiple languages.

Published on May 28, 2020
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