New Delhi, Jan. 11 -- According to a study by RazorpayX, one in every 2 small businesses are in consensus that limitation in resources and lack of knowledge are the two major challenges to their digital transformation aspirations.
Their findings include more than 50 per cent of SMEs demanding easier and faster access for loan approvals and verifications.
They also wish for reduction in time spent on data entry when it comes to payroll, and want a unified view of financial transactions to check and improve visibility of overall business health and identify hiccups early on.
The study is titled as SME Banking is Broken: Will Indias Promising Neobanks Fix it?.
Its objective is to understand the various problems faced in managing financi...