09 Sep 2020|Noida | Amity University, Noida ( Online )
Webinar on ‘Working Capital Requirements for SMEs
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A webinar on ‘Working Capital Requirements for SMEs - Leveraging Card Credit as an Alternate way for Business Payments during Pandemic’ was conducted by Mr. Sanjiv Razdan - Global Head - Commercial Payments - NIUM (Instarem) Singapore. As the ongoing pandemic has created financial crisis for SMEs, the webinar will focus on leveraging credit cards for working capital requirements. He shared a brief insight into his organization that has 360+ employees and is headquartered in Singapore with offices in 10 countries. The company is building itself on the three verticals of Send, Spend and Receive money. He stated that his organization besides being a financial entity fully regulated by central bank and invested into as a company by some of the best blue chip investors, there are other value drivers that makes NIUM a partner of choice. These include strong regulatory focus; Being a single platform for domestic & cross border; Organization has agility & has a robust customer service support among others.
He added that Covid will impact everybody (SME Clients). He suggested that SME’S can resort to Crisis management and response; Managing workforce expenses; Optimize operations & supply chain; Maximize Financing and Liquidity & Build Strategy and Brand. He averred that organizations are looking to digitize operations. He further shared the support available including cost, cash and credit support being provided by the government to improve the market sentiment. Mr. Razdan said that improving cash flow and working capital efficiencies directly impacts corporate bottom line. He further stated that while credit card limit has become an innovative solution for domestic/ cross-border supplier payments, the challenge is that less than 10% of B2B suppliers accept card payments, making commercial acceptance low.