SMEs are among the main actors of commercial life in our country. SMEs constitute a large part of the businesses; It makes significant contributions to the country's economy, from production to exports, from economic growth to employment. While SMEs continue their activities as the most important part of global and national economies, they are supported by both legal regulations and government policies, but in recent years, the most important support for SMEs comes from technology. Digitalization, which brings innovations and radical changes in every aspect of our lives, also changes many things in business life. This change sometimes occurs as traditional methods are transferred to the digital world, and sometimes as digital solutions offered to new needs.
Time and Labor Saving Solutions for SMEs
The financial technologies ecosystem, which produces solutions for huge organizations such as holdings and large enterprises, also touches the commercial life of SMEs. Efficient use of workforce and time is of great importance for SMEs, which generally have to act quickly with a limited number of personnel in their business management. Saving time and labor is at the core of what enables businesses to make a difference by using the opportunities offered by digitalization to the fullest.
We can list Open Banking and online payment methods, and ERP software offered to different departments, as the biggest digital solutions that make life easier for SMEs, which can take action faster than large companies and where instant decisions can be implemented instantly.
All Banking Transactions on a Single Screen
SMEs have to work with many banks as a necessity of business life, but managing each bank and each account opened separately is a process that takes a lot of time and requires manpower. Open Banking applications, one of the most powerful products offered by the Fintech ecosystem, offer a radical solution to this problem.
Open Banking applications, which allow you to monitor your accounts on a single platform, from a single screen, regardless of the bank, make significant contributions to businesses. You can be instantly informed about the money coming in and out of your accounts, and you can view the movements of your payments and collections on your bank accounts, that is, your cash flow, in detail. Moreover, you can check these separately from each bank without wasting time. In classical methods, you had to create separate records for each bank for your account movements, keep track of them, and then bring them together. Open Banking applications, which perform all these transactions instantly with your permission with the help of APIs (Programming Interface), allow you to keep control of your cash flow at any time and from anywhere.
24/7 Collection from Online Platforms
SMEs, which can transfer the collection process after shopping with their business partners to online platforms, can carry out their finance and accounting functions more effectively. Thanks to the payment by link feature, which is the solution offered by online collection systems, all collections can be made instantly and simply via the URL of the payment page created. These URLs are transmitted via e-mail, SMS or instant messaging applications, simplifying collection processes. Online payment systems, which are more secure than methods such as mail order, use technologies that meet international security standards such as 3D Secure. In addition, foreign currency and credit card payment features are of great importance as they offer alternatives to the collection process.
