Why Every B2B Startup Should Invest in AR Management Software


 

In this age when India has become the hot bed of startups and with such a thriving eco-system to support the startups, it is still pertinent to remember that 80-90% of startups fail, as per a report by IBM. According to the Startup India program, around 27,000 startups registered under the program till 2020 and almost all the reasons why Indian businesses fail early, are connected to innovation and leadership: inadequate business models, bad planning, flawed consumer insights, or a lack of unique ideas. If we specifically look at the B2B space, the traditional B2B supply model is built on credit. Companies that ventured into non-secured credit and without any credit rating policy dictating the credit line failed as well as companies who didn’t manage their cash flow well to realize the revenue into a tangible entity.

In this blog we will investigate major areas that startups have to look into and gradually we will dig deeper to uncover the final truth!

So lets first understand the journey of a startup irrespective of whether it is in B2C or B2B space.

JOURNEY OF A STARTUP (in B2B or B2C space)

    • Being Aware of Your Target Audience
      As a creator of a startup, you must consider your target market in every move you make.
    • Fostering a Positive Work Environment
      Your startup's team strength has the power to build or kill your Company.
    • A Well-Thought-Out Budget
      Any startup's finances are always a top priority.
    • Uniform Marketing and Branding Approaches
      A significant aspect of your startup's narrative is branding. It's what conveys to the public your brand as an organization.
    • Putting Processes in Place
      Building processes around the major levers i.e. Procurement, CSAT Measurement, Finance etc creates the backbone of the Company
    • Have a Robust Accounts Receivable Process
      Generating Sales is just the first step, collecting the receivables is the most important step to get realized revenue. Making Sales is just the beginning. Getting the receivables collected is the most crucial stage.
    • Opportunities for Networking
      Make an effort to expand your network among the individuals you regularly deal with, such as mentors, suppliers, clients, investors, and industry experts.
    • Locating Investors
      Seeking the ideal investors for your startup is one of the most crucial tasks you'll have to complete. Attracting investors' attention and holding their interest long enough to close the deal are two different things.
      You must have a thorough understanding of your startup's value proposition, current state, and future goals in order to make it appealing to investors

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