A New Age of SME Automation Solutions in India

The FinTech industry’s automation solutions for the MSME sector have taken over certain core processes. The first of these processes is financial bookkeeping and documentation of transactions – a manual task that was prone to human error as well as large investments of time and effort. In India, SME automation solutions have long been present. However, recent developments and interest in this segment compel us to give it a closer look.

To make things clear, let’s understand that there are three angles of FinTech + SME automation solutions. First, FinTechs that focus on SME problems and provide automation solutions to help them manage their finances. Second, FinTechs that use automation solutions themselves. E.g., SME lending company RupeeCircle and Indifi Technologies’ attempts to automate and digitize their processes to remove human intervention. The third type of players are ‘not-pure-play FinTech’ but provide SME automation tech solutions. E.g., Focus Softnet, an organization that specializes in developing smart platforms for end-to-end systems management, all overseen by superior AI that allows SMEs to analyze their financial data, create customized ...

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