The Indian IT industry has grown by leaps and bounds over the previous decade and continues to have remarkable growth at present.
In fact, Information Technology, as a whole, contributed to approximately 8% of the nation’s GDP in 2017. In 2019, the sector’s annual revenue amounted to $180 billion. It goes on to show the vast wellspring of potential this industry harbours both for the economy and business owners, well attested by the flourishing scene in cities like Bangalore and Chennai.
It is also a sector that deals largely in credit, with unpaid invoices forming a key component of the working capital. Thus, financing solutions such as invoice discounting for IT can allow IT businesses to optimise their cash flow and provide for upscaling operations efficiently.
KredX, an integrated cash flow solutions provider heps IT businesses raise working capital through its invoice discounting platform against simple eligibility criteria.
Unpaid dues from debtors can tie up necessary finances for an organisation, which it could use to fund other crucial operations. Invoice discounting services provide a financing solution that helps unlock such cash.
With bill discounting for the IT industry, firm owners can trade the unsettled invoices from debtors to avail cash advance prior to the due date. A financial institution provides the value of those unpaid bills, minus a nominal service fee, to the borrower.
This way, an organisation gains access to tied-up funds without waiting for 30 – 90 days, allowing for steady cash flow. A business can utilise the amount to pay its creditors for infrastructure development as well as towards other development projects.
KredX offers advance against unsettled bills within 24 – 72 hours*. So, you only need to upload the approved bills from your debtors at our portal to access instant working capital via our invoice discounting services.
Invoice financing in general and invoice discounting in specific have become tremendously popular. With the ease of digital lending, organisations have benefited significantly from the simplicity of this financing solution.
Here’s how invoice discounting for IT works:
With KredX, you can avail funds against your business’s outstanding bills conveniently, courtesy the minimum eligibility criteria.
With bill discounting for IT industry, businesses in the sector can enjoy the following advantages:
Cash flow is the lifeline of any business, more so with IT firms. If planned properly enterprises can regulate their working capital to the benefit of its operations more efficiently.
You can settle your business’s dues on and even before time, invest in ongoing projects, upgrade equipment, etc. with significant ease by utilising the bill discounting facility.
An IT firm requires a stable cash flow at all times. In that regard, bill discounting allows organisations to boost their working capital, stabilising its operational flow.
IT businesses looking for hassle-free financing solutions can turn to invoice discounting for IT from KredX. It not only allows companies to release tied-up finances but also helps regulate their working capital efficiently.
You can avail finance against your unsettled invoices with notable ease through nominal documentation, eligibility criteria and minimum turnaround time.
Your business needs to satisfy the following criteria to avail funds via bill discounting:
The following documents are required to avail invoice discounting services: