SpiderG –Unlocking new opportunities to evolve and strengthen the SME ecosystem

SpiderG is a pioneering new platform that seeks to provide a plethora of advanced tools and systems to help SMEs digitally manage their business. SpiderG is an enterprising startup that understands the potential of SMEs (Small and Medium Enterprises) as well as the problems being faced by these firms. While large corporates often take the spotlight, the fact is that SMEs are the powerhouses of the nation, contributing as much as 45% to the country’s industrial output, 40% to exports, creating a million jobs every year, and producing more than 8,000 quality products for national as well as international markets.

SpiderG has created an evolvedecosystem for SMEs, wherein they can leverage the digital infrastructure to keep track of receivables/payables, manage leaves and salaries of employees, and resolve issuesrelated to invoicing and payment delays. SpiderG has enabled an electronic bridge that SMEs can use to connect effortlessly with their vendors and customers. Through this, they can seamlessly create, send, receive, and process invoices from any location. This ensures anytime, anywhere access to invoices and also helps save costs and environment by significantly reducing paperwork.

SpiderG’s digital infrastructure also helps SMEs to access real-time business analytics and easily get approval for collateral free loans.The evolved ecosystem created by SpiderG comprises various financial institutions including banks and NBFCs, chartered accountants, loan agents, etc., all of which work in perfect sync to make it easier for SMEs to get collateral free loans. SpiderG’s digital network keeps track of financial data of SMEs, and processes it whenever there’s a request for a collateral fee loan. Financial institutions can access SpiderG’s digital network to quickly ascertain the financial strength of an SME and take a decision on its loan request. Since all the info is already available on SpiderG’s network, it becomes easier and faster for SMEs to get collateral free loans from financial institutions.

Considering the massive size of the SME market in the country, SpiderG is looking to unlock huge potential in the coming years. As per McKinsey report, the Digital Finance space is an opportunity worth $700 billion and the Software as a Service Market in SME sector is worth $3.3 billion. In addition, more than 10 million SMEs out of the total 50 million SMEs in India already have the technology backbone to integrate with SpiderG’s pioneeringplatform.

SpiderG is not only helping SMEs withtheir bookkeeping, business analytics, and collateral free loan requirements, but it has also been instrumental in evolving and strengthening the SME ecosystem. SpiderG is targeting substantial growth in the coming years, as it continues to add more SMEs, CAs, direct selling agents, and financial institutions to its network.

Check Also

World CX Summit 2024: Steering the future of customer experience forward

16 May 2024, Mumbai: The 11th global edition of the World CX Summit & Awards, …