(Originally posted here) Vijay Mallya, the Chairman of United Breweries, exited the country on March 2nd 2016 – defaulting on loans worth Rs.9000 crores to 17 banks. The media storm which subsequently rained down upon the Mallya name would befit the crime, if it wasn’t painting an incomplete picture. Given the frenzy and the weight of the government apparatchiks brought down to bear on the...
(Our petition against India’s late payment culture can be found here) The Late Payment Problem We’re going to keep this short. Now that 97% of Indian SMBs were reportedly paid late in 2015, the late payment culture in our business environment has gotten out of hand. Today, India officially carries the longest average payment delays in the Asia Pacific for B2B SMB invoices, 51% of...
What’s The Scoop With Flipkart? “The digital industry is suffering because there have been several cases where advertisers default on payment… We do not have a strong industry body in terms of payment collection yet.” – Amar Deep Singh, CEO, Interactive Avenues (article originally posted here) Between April and May 2016, one of India’s e-commerce leaders – Flipkart–...
(originally published here) 1 in Every 3 Invoices Unpaid Is Due To Seller Errors. Seriously?! “The formulation of a problem is often more essential than its solution.” Albert Einstein That’s just a fancy way of saying unless you understand the problem, you can’t really reach a solution. Pursuit of an Objective Answer Whenever we talk about late payment among B2B SMBs or startups, the usual...
(originally posted here) Last Saturday in Chennai at the SaaSx3 I had the privilege of participating in my first “Product Teardown” A Product Teardown, “or simply teardown, is the act of disassembling a product, such as a television set, to identify its component parts, chip & system functionality” – Wiki In the context of the teardown of my company, Hummingbill, a Software as a Service...
Digitising India is the only sure-shot way to reach the benefit of growth to India’s masses and that then will create the multiplier to ensure the target 8 to 10% sustained GDP growth… [Digital India is] certainly the most appropriate call for transforming India into a vibrant and strong global economy. – Pramod Saxena, Chairman & MD, Oxigen Services. And we agree. Digital India has the...
India’s Step Forward India’s government is rewriting the rules on basic standards of living and business. It’s an ambitious goal, but there’s been a rise in foreign direct investments in those sectors that have been affected by the “Digital India” campaign. So, the world seems to agree with what they’re doing – let’s not forget the Rs. 4.5 trillion pledged to the...
