The Business Bytes
TBB BUREAU
BHUBANESWAR, MAY 25, 2022
Staying true to its commitment to making small businesses more efficient, fintech startup Khatabook plans to strengthen its presence in Bhubaneswar. The startup expects to grow its user base by 10 per cent in Bhubaneswar in 2022. As many as 12 lakh merchants are using Khatabook in the region to manage their business finances through efficient bookkeeping features on the app. The adoption of Khatabook solutions witnessed significant traction in the region post-pandemic as MSMEs strived to modernize business operations for sustenance and growth.
Khatabook has identified Bhubaneswar as one of the fastest-growing business zones for the company in the state.
To support the ever-increasing demand for digital MSME solutions, Khatabook accelerated its operations by strengthening the product portfolio and introducing several new offerings such as Biz Analyst, for real-time business analysis available on the phone. As a result, the company enables MSMEs to be more efficient by making the entire business value chain more efficient. Khatabook, last year, had launched an Automated Bot Call Reminder, India’s first Interactive Voice Response (IVR) based feature deployed exclusively for MSMEs, enabling them to recover the outstanding amount 3 times faster. Also, the startup recently celebrated its 3rd anniversary and announced that it has crossed 1.8 trillion monthly recorded transactions across platforms – Khatabook, Cashbook, and Biz Analyst.
Khatabook is available in 13 Indian languages for ease of use for its merchant user community in various parts of the country. In the state of Odisha, the majority of the Khatabook users prefer using the app in English, Odia followed by Hinglish. The app is heavily used by merchants dealing with groceries and food, mobile and communication, services — financial and agencies, textiles, apparel, and footwear. Bhubaneshwar, Cuttack and Sambalpur are the top 3 user base cities for Khatabook from Odisha.
“In the current scenario, digital is the need of the hour for running a business. It is humbling to see that Odisha’s MSME community is adopting Khatabook’s digital offerings to manage their businesses more efficiently. The features and products offered by Khatabook are designed by keeping the requirements for small businesses at the center. We will continue to introduce relevant digital solutions and features ensuring the business success for the merchant community in Bhubaneswar,” Ravish Naresh, CEO, and Co-founder, Khatabook.
