Know your numbers
Do independent businesses require financial software?
Do independent businesses require financial software?
Financial technology startups are wooing micro, small and medium enterprises (MSME) with their products and services. Average annual income of 60 million MSMEs in India is INR 20 lakhs.
As per Entrepreneur India: The accounting software automates the core calculations and administrative procedures and take control of the revenue framework so that businesses will not be required to outsource finance management.
Tally is India’s Intuit. Businesses have been using its software before the cloud computing. It’s current offering includes accounting, cash flow management, productivity and tax compliance.
Khatabook is a mobile first business to business (B2B) accounting service for MSMEs. It allows businesses to record credit transactions. It sends reminders for the recovery. Users can also access the analytics in the application.
Xebra is a software service targeting the agencies, offering services such as marketing communications and digital marketing. It offers features such as invoicing, business intelligence, asset tracking, payroll, banking and accounting.
Zoho One is an all in one business finance software for small businesses. It offers marketing, sales, finance and accounting, automation and insights software.
Quickbooks from Intuit also offers a business finance software for the MSMEs. Its offerings include accounting, invoicing, banking, cash flow management and time tracking.
It is helpful for businesses if software help in reducing costs, increasing sales and saving time.