Obtaining timely and adequate credit is imperative for MSMEs to grow and expand. Here are 11 ways you can improve the creditworthiness of your MSME. 1. Maintain your company’s correct legal identity and contact details across all statutory databases. 2. Ensure that bank and NBFC loans are serviced on time and credit card payments are … Continue reading 11 Ways You Can Improve the Creditworthiness of Your MSME
The primary reason for businesses to exist is to make profits. In a perfect world, having a good product that caters to a specific need for a growing base of customers would ensure profits. Unfortunately, we do not operate in such a perfect world. Many variables drive business success. The last two years have shown, … Continue reading Why is risk management important in modern supply chains?
In late June 2022, a prominent bank released a newspaper ad about an e-auction of a property to recover nearly Rs. 93 crores lent to a company called “the Great Indian Nautanki Company Pvt Ltd”. The company’s name was enough to induce curiosity among journalists, and soon many acts of the drama came to the … Continue reading The Importance of Identity Checks in Business Transactions
Finance teams in most companies have realised that they must adopt the technology and tools driving change in modern businesses. Today’s companies need finance leaders who can leverage technology to manage emerging risks. The main task of modern-day CFOs is to plan for and forecast the future financial performance of their company in a rapidly … Continue reading Modern Credit Risk Management for the CFO of Today
Small and Medium Enterprises (SMEs), the backbone of the Indian economy are hemmed in between the large corporate and retail segments in terms of loan ticket size and have the least credit penetration. This is because non-incorporated SMEs are subject to relatively relaxed financial disclosure norms to avoid burdening them with too much compliance; this … Continue reading 11 Ways SMEs Can Improve Their Credit Risk Scores
Several national, regional, and other identifiers are being used to cover specific needs in business, but the Legal Entity Identifier stands out compared to them because it is truly global and has already been adopted by many regulatory authorities across the world. The Legal Entity Identifier (LEI) is a 20-character, alphanumeric code that uniquely identifies … Continue reading Legal Entity Identifier (LEI) as a Gold standard