Growth strategies: Boost your business’ sales and profit with UpScale

The pandemic brought the nation’s economic growth to a near standstill last year.

As it is SMEs were hard-pressed for money — the nationwide lockdowns only made matters worse. With a decline in sales, we saw many businesses pull down their shutters for the last time.

This was especially true for SMEs that failed to digitally transform their business. The slow adoption of emerging technologies stops SMEs from innovating and getting ahead in today’s competitive landscape.

That said, things are starting to look up for SMEs. The adoption of digital solutions in this sector has been on the rise and most businesses are now better prepared to face lockdowns and volatile market conditions. Going by the reports, there has been only an 11% dip in business volume in 2021 when compared to the 46% decline during the multiple lockdowns in 2020.

Getting on track with digital transformation

It’s safe to say that there has been a growing adoption of digital solutions among SMEs — this, in turn, has remarkably contributed to the businesses’ resilience during such uncertain times.

Over the past 12 months, 64% of SMEs saw an uptick in their sales through online channels.

With more businesses opening up to the idea of digitization — experts are of the opinion that SMEs that will invest in digital solutions today, will reap rewards for years to come.

While SMEs may face a few challenges in accelerating digital transformation; for instance, low digital proficiency could be a barrier — the pandemic on its part has triggered a bigger wake-up call for SMEs that can no longer be ignored.

SMEs today, are in a damage control mode to improve their revenue and save their businesses from hitting rock bottom. In their attempt to revive their businesses’ sales and profit growth, the manual and time-consuming processes will no longer hold good.

Utilizing digital platforms such as UpScale will help SMEs gain greater visibility of their cash flows and manage financial operations with ease.

How does UpScale help with sales and profit growth?

In an effort to maximize returns, we understand how business owners are always thinking of ways to boost sales and increase profit margins. This calls for a systematic approach, one that covers every aspect of financial management for businesses. UpScale was built just for that — the platform automates cash flow and credit management, giving you the time that you need to focus on growing your business.

Strategically increase sales

One way that your business’ sales can be improved is by getting new customers. UpScale helps you with insights on which customer is active or inactive over a period of time. Your teams can even pull up reports to check why transactions with a particular customer have been on the rise — this will help your business make all the right decisions to generate more sales.

When it comes to increasing sales, UpScale inventory reports also help you understand which Stock Keeping Units (SKUs) are getting sold more, what is the value of the stock held and further prepare business teams for seasonal trends seen in the past. When you have multiple suppliers that you’re dealing with — UpScale’s purchase dashboards and supplier summaries can help you draw rich insights on which inventory and supplier they should go with.

Drive profitable growth

Coming to maximizing profit margins for your business, UpScale can help keep your purchases and expenses in check. Getting money on time is paramount for ensuring a healthy cash flow. UpScale’s ‘receivables split view’ will help you get a quick look at what is due when. That’s not all, you can even send out timely reminders and follow-up on payments that are due to your business.

You can further plan your payments by taking a look at the payables that need to be made. UpScale also provides an overview of the different categories of expenses that are being incurred by the business. This will help you understand where you can cut costs to increase your profitability.

UpScale is built to position your business for growth

UpScale’s credit and cash flow management platform has multiple features to help businesses manage their finances better, drive revenue, and tap into exponential growth.

UpScale can help you manage business finances in a smart and easy way. Here’s how:

Enables strategic planning:

With UpScale, you not only get real-time access to business data but you also get a detailed view of all your bank accounts, accounting and payments in one place. This helps you save time, streamline financial management and make data-backed strategic decisions for your business. You can also get access to cash flow projections for up to 90 days — this way you will know what’s your business’ financial standing at any point in time.

Provides access to collateral-free loans instantly:

Securing business loans has always been a hassle, especially at times when you need them immediately. But not anymore.

With UpScale, you can get instant access to loans up to Rs. 50 Lakhs without any collateral. The eligibility, approval and disbursal take place quickly (within one business day). UpScale gives you credit score information in real-time, thereby ensuring that you get the financial products that you need when you need them, at much better rates.

Facilitates operational excellence:

By syncing with accounting software like Tally and connecting your business’ bank accounts via a unified dashboard — UpScale provides in-depth reports on sales, purchases, expenses and inventory. This will help you speed up your day-to-day tasks and manage business operations with ease.

Helps with seamless supplier authentication:

Building new business relationships on trust alone does not work. UpScale’s ‘Tool’ section is designed to help businesses verify GST data and bank account details of new suppliers. This way you can identify fraudsters and keep them away. You can even check your cash ITC reserves and know exactly how much ITC is available to your business.

Provides excellent customer support:

We get how at times, businesses may need help in understanding these new-age features and digital solutions — and for this, UpScale’s customer support team is there to help you every step of the way. From live chat support to call and email support, UpScale’s team will support you at every point.

Get Started with UpScale

Digitization will prove to be a game-changer for SMEs in the coming days — UpScale helps business owners with the right data at the right time to make informed financial decisions.

From being able to check historical expenses to quick cash flow projections, UpScale helps business owners make all the right decisions and plan ahead strategically for the future. Start your free trial with UpScale today and take your business to the next level.

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