Winny Patro Revolutionizing MSME Credit Management with Recordent

Micro, small, and medium enterprises (MSMEs) are the lifeblood of the Indian economy, but they often face significant challenges in accessing credit and financing. Rough estimates suggest that nearly 27-29 percent of small and medium businesses (SMBs) lack access to formal credit, trapping them in a cycle of credit demand. Traditional in nature, many SMEs struggle to navigate these challenges effectively. In this landscape, Recordent emerges as a game-changer, offering innovative solutions to help MSMEs manage and monitor their credit risks using data. Founded in 2018 and fully operational since 2021, this Hyderabad-based company has quickly become a beacon of hope for countless small and medium enterprises.

Empowering MSMEs with Data-Driven Solutions:

Recordent offers a suite of four main products designed to address the specific needs of MSMEs:

• cRediDue: This tool helps MSMEs generate invoice reconciliation notifications, streamlining the often complex process of tracking payments and dues. By automating this crucial aspect of financial management, businesses can free up valuable time and resources.
• cRediEye: With this product, businesses can create comprehensive customer credit histories, providing valuable insights for better credit management. By accessing a 360-degree view of their customers’ creditworthiness, MSMEs can make informed decisions about extending credit, reducing the risk of bad debt.
• Legal Notice: Recordent simplifies the process of sending legal notices, ensuring that businesses can assert their rights effectively when dealing with unpaid dues or contractual issues. This feature can be a powerful deterrent against delinquent payments and contractual violations.
• E-arbitration: This platform facilitates online arbitration, enabling businesses to resolve disputes efficiently without the need for costly and time-consuming legal battles. By offering an alternative dispute resolution mechanism, Recordent helps MSMEs save both time and money.

Driving Financial Inclusion for MSMEs:

Recordent‘s impact on the Indian MSME sector has been remarkable. The company has processed over 71,000 invoices, and its business credit reports have supported transactions worth Rs 2.5 crore. By leveraging data-driven insights and technology, Recordent empowers MSMEs to make informed credit decisions, mitigate risks, and streamline their financial operations.

At the helm of Recordent is its visionary leader, Winny Patro. With a deep understanding of the challenges faced by MSMEs, Patro embarked on a mission to bridge the credit gap in this sector. His journey with Recordent is not just about offering services; it’s about driving financial inclusion and empowerment for India’s small and medium businesses.

Patro envisions a future where every MSME, regardless of its size or location, can access the credit and financial resources it needs to thrive. By providing innovative solutions that cater to the unique needs of this sector, he is transforming the way MSMEs manage their credit risks. Recordent’s journey may have begun in 2018, but its impact on the MSME sector has been swift and substantial. As the company continues to evolve and expand its offerings, it is poised to play a pivotal role in reshaping India’s credit landscape.

Winny Patro and Recordent are not just providing services; they are catalysts for growth, champions of financial inclusion, and advocates for the millions of small and medium enterprises that form the backbone of India’s economy. With their innovative approach to credit management, they are empowering MSMEs to overcome challenges and seize opportunities, propelling India’s economic growth forward. As Recordent looks to the future, its commitment to supporting MSMEs on their journey to success remains unwavering.