Manage Your Start Up Business with Financial Management Solutions

 

In this era of extreme market competition, micro and small businesses are the ones that remain vulnerable to any sudden economic downswing, or any other market fluctuations. This is more so if a small-scale business firm in unable to avail any line of credit to assist in maintaining the monetary-flow. Hence, it is important that business owners and start up entrepreneurs take appropriate steps for budgeting and manage other financial aspects so that they have funds to sustain in any adverse or competitive situation.

A business of a small scale or more specifically a micro business that has about ten employees generally shies away from setting up an operating budget. These businesses are perhaps new or may be so small that the owners tend to get convinced that there is no method of projecting the revenue; hence, there is no budget requirement at all. That is certainly a wrong way of going about it. Even if the small-scale firm is facing an apparent inability to project revenue, the business is incurring other expenses. Hence, it is imperative that the company creates a foundation from which it can analyze and determine business trends and recognize the scopes for future decision-making. Budget is the most important tool for all this.

Keeping these aspects in mind, today eminent brands have come with small business financial management tools that help a start up business and others on the similar lines to assess their financial condition and decide on future investments for expansion. Today, these innovative solutions are successfully operating in places such as Sri Lanka, Middle East and India and is fast pervading in other countries.

These solutions are mainly aimed at the non-banking financial services organizations of small to medium scale mainly in India and other foreign countries. They provide much relief and comfort to these companies that otherwise was unable to afford a comprehensive financial software solution in order manage various issues such as hire purchases, loans, leases, important customer contracts and deposits.

With these new age and scalable financial software solution, the financial service companies are able to carry on their regular tasks with much ease and perfection. The tools seem to fit in well with the business needs and help in profitable decision making in terms of investments and business expansions. They address various requirements in the field of Retail Lending, Corporate Lending and SME loans with their modular approach. Other business modules that these tools offer are: –

Factoring

Asset Loan

Finance & Operating Lease

Working Capital

Term Loan

Personal Loan

The capability to evaluate and read financial statements is a crucial function of small business financial management tools. This gives the company’s an understanding of the income value, assets, debts and expenditures.

Other links: growers solutionmanufacturing ERP solution, Data center management

M-Ledger is an android application by Dynamic Data Systems that collects your mpesa transaction data and allows you to manipulate and view reports from that data, all on your phone. Business users can also subscribe to m-ledger.com that will offer real time transactions monitoring of incoming and outgoing mpesa transactions with charts, graphs and summaries or detail by any time period.
Dynamic Data Systems is a startup partcipating in the Safaricom App Wiz Challenge taking place at @iBizAfrica, the business incubator in Strathmore University.

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