While digital payments offer speed, delays in approvals, invoicing, and fragmented systems still hinder payments, affecting cash flow and posing challenges for numerous small enterprises aiming for growth.
Raveena, a footwear producer based in Kanpur, relies on a supplier in Pune for vulcanized rubber. When an unexpected issue caused a payment delay, the supplier halted deliveries, disrupting Raveena’s production processes. The differing business systems used by both parties resulted in a disconnect in their respective information flows.
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