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Digitising Your Business Operations Can Now Be Made Quick and Straightforward
As a business owner, you might be looking for ways to overcome the fall in sales brought about by external factors or a crisis. With customers afraid to step out, home delivery has replaced in-store transactions as the primary source of income for many businesses. This is proof that if you want to grow or sustain your business in the current scenario, taking it online is necessary.
Whether you run a retail business, operate a salon, grocery store or local health clinic, you probably have a host of things to manage on a routine basis. From tracking and clearing payments to sorting inventory and rate management, the daily operations of a business can be complicated. But by adopting a digital payments solution like HDFC Bank SmartHub, you can shift your business from offline to online effortlessly, and benefit from the automation, promptness and security of the technology.
Here are six ways in which digitising your business can boost growth in the new normal:
Easy finance management: From credit dues to daily reconciliation, managing accounts the traditional way can be quite time-consuming. And if you miss a specific date or payment, it can affect the entire billing cycle.
By automating payments, you can track the day-to-day cash flow seamlessly. A digital payment system, like SmartHub, comes with integrated reports that make it easy for you to manage collections from late customers. And the ability to track and manage all your payment records and advances from a single-platform can save your time and effort.
Safe and secure: HDFC Bank SmartHub is designed with the intent to protect your business data from illegal access or manipulation. It offers customised access controls that require verification through a One-Time Password (OTP). This way, you can send invoices to customers through secure payment links to enable faster settlement by the bank.
Multiple-mode collections: Collecting payments digitally will help customers settle their bill faster at the billing counter and will eliminate the hassle of looking for the change. This can save time and improve customer experience. For regular customers who prefer to settle their accounts every month, you can easily map payments to individual invoices, which makes bookkeeping transparent and streamlined. Such automated billing can ensure that the entire system is error-free and helps you earn customer trust.
Reduce cash and cheque transactions: In this pandemic situation, the need to maintain strict social distance has changed people's attitudes towards cash transactions. In fact, the coronavirus crisis has encouraged businesses and service providers to switch to digital payment options.
Designed as a one-stop solution for digital transactions, HDFC Bank SmartHub lets you accept cashless payments from customers through multiple modes: QR code scanning, SMS payment link, UPI payment - PayZapp, online payment gateway – NetBanking, credit or debit card, the wireless card swipe and mobile card swipe machine.
Automatic reconciliation: From tracking refunds to discounts, tallying a single day's sales can be cumbersome. Besides, manual entry bookkeeping can lead to mistakes, especially while accounting for missing goods and operating expenses. By digitising payment reconciliation, you can get a combined view of payments across different categories.
Efficient business management: Why hire someone to manage various processes within your business when you can easily automate tasks like inventory tracking and auditing, and manage it all yourself? HDFC Bank SmartHub makes it easy for you to manage your business, thanks to their integrated reporting and analysis functions. It can even automate periodic tasks.
Transitioning your business from offline to online quickly and seamlessly: If you have been concerned about switching to digital payments, HDFC Bank's SmartHub is here to make things simple and convenient. There are no maintenance charges or installation hassles to worry about. With 24X7 customer support and a dedicated relationship manager at HDFC Bank, you can leverage the power of digitisation to enhance customer experience and grow your business.
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