Tech in Baby Steps (Baby Step 4)

Continuing from the thread 2 weeks back, where we deep-dived into penetrating the seemingly impenetrable B2B tech (an industry plagued with very low tech adoption).

And hence, baby steps and patience are needed to tackle it. We have already covered lead acquisition, ERM and lead management.

Now, we go into the necessary evil of B2B commerce, financing. While some may hate it, money-making in B2B inevitably passes via financing. You can choose to go bed with it, you can choose to get it done by yourself, but you just can’t ignore it.

For us at OfBusinees, in the financing, we believe that tech has to lower the cost of acquisition, servicing and/ or collections (with obvious minimal influence on yield). And cost of servicing the customer is practically the easiest to work with, atleast if one wants to see immediate returns.

Thus, the need for a robust loan management system. Be it digital-led processing, pre-credit analysis, loan management, collection reminders, underwriting and monitoring scorecards; there are scores of now almost basic necessities. None of this is a differentiator but having it all that mirrors your business is critical to survival.

Our firm belief in designing our home-built LMS has always been that it is in line with our business goals. First compliance. Second, governance. Third, controls. Fourth asset quality. Fifth, profit. Sixth, scale. What gets built first, what shows up as a priority, what reports focus on, what gets flagged, and what does one see the most is all dictated by this order. Our firm belief is that if one’s loan management system is a reflection of one’s financing ethos. Not just a management tool.

To the creators – @Bhuvan Gupta @Dhruva Sree, @Anshul Jain, @Devender Yadav, @Suraj Singhal, @Atul Maini, @Aman Dwivedi, @Udayaditya Dwivedi, @Vishal Kumar, @Nishant Singla

Read more from CEO speaks Column:-
– A Future Every 5
– Tech in Baby Steps (Baby step 3)