TRADEINDIA. COM LAUNCHES TRADEKHATA DIGITAL SOLUTION TO EMPOWER 5.5 Mn SMES AND MSMES ON ITS PLATFORM

Aims to enable end-to-end business digitization and payment solutions for 5.5 million sellers as part of the Digital India initiative

Mumbai, 21st October 2020: In a bid to empower the countless small businesses and micro–enterprises in the country, TradeIndia.com, the country’s largest B2B marketplace that offers global buyers and sellers a reliable digital solution to identify trustworthy business partners has unveiled TradeKhata, a state-of-the-art digital solution. This solution allows small businesses to take charge of all their transactions while eliminating the various hassles of manual collections with timely free reminders via SMS. The free of charge and easy-to-use business-enhancing digital solution is set to change the lives of over 5.5 million small businesses that are listed on the TradeIndia.com platform by ushering a 360-degree digital transformation of their business process and thereby contributing to the Digital India initiative.

TradeKhata extends complete digital billing solutions that streamline business operations by automating the invoicing, payment collections, bulk pay outs & customer data management. It also offers efficient ways to business-owners for collecting payments faster and reconciling collections easily. Its comprehensive payment solutions help users collect payments faster through online payment modes like UPI, Wallets, Credit, Debit Card or Net Banking, catalyzing seamless growth opportunities. It also enables users to organize payments from their bank accounts while gaining a clear view of every payment made to various business contacts. It also facilitates effortless business management by streamlining personal ledgers through either the phone or the web and also helps businesses collect payments faster.

Commenting on this novel product launch, Bikky Khosla, founder and CEO, TradeIndia.com, stated, “This year has been extremely nerve-wrecking for the SME and MSME sector that comprises of various small shop owners, merchants and businessmen due to the corona virus onslaught. To neutralize the situation headlong and resolve the numerous barriers to business growth, TradeIndia.com is offering this ingenious digital solution that allows business owners across the country to scale their trade technologically and take part in the creation of a new and agile digital economy. The digital solution is slated to simplify the transactional ledger system and further advance the business productivity of small business keepers by adeptly managing the various important facets of everyday operations such as billing processes, payment collections, keep a track of follow-ups & reminders systematically by advancing in-depth reports and analytics.“

The essential premise behind the conception of this product goes back 4 months in time when TradeIndia.com created an invoice feature on its online platform. It permitted sellers to create product invoices and share with the buyers who had sent them the inquiry. A significant observation emerged from the creation of this online invoice feature. Despite the various hurdles to businesses imposed by the lockdown and the lack of technological awareness in the majority of small-time business owners, the TradeIndia.com platform still managed to accrue a transactional invoice value worth Rs 1800 Cr during that time.

Therefore, by duly recognizing the enormous growth opportunities existing in the digital calibrating of the small enterprises and the potential of transformation of their business operations by utilizing technology and innovation, the leading B2B portal rolled out the TradeKhata a digital solution after much R&D and market introspection. The state-of-the-art solution extends an optimum solution towards the various problems faced by the small business ecosystem during the lockdown. This included essential aspects such as payment collectables, accounting, invoice creation and gather payments faster by furnishing a digital transition in the traditional business methodologies. Moreover, this allows users to enjoy unabridged access to these said features irrespective of the time and place.