Recordent, India’s first credit and payment reporting fintech platform in the non-banking sector, introduces ‘Analytics’ to its platform, a new class of Data analytics, that builds a competitive edge with end-to-end-visibility and traceability to enable businesses to make better decisions faster. The new analytics empowers businesses with the right context to do customer predictive models, simulations and drive seamless business efficiency and output.
Recordent’s addition of data analytics seeks to help firms become more agile and responsive to changes. The firm intends to democratize data science capabilities so that enterprises may become data-driven, with data and analytics serving as the foundation of their success.
“To stay competitive in the post-pandemic era, businesses must adopt data analytics. Data analytics may also help businesses cut operating expenses, develop business models, generate revenue, and differentiate themselves from their competitors. It can assist in the development of more timely and relevant business insights. This is where Recordent’s new data analytics comes in. It offers pre-built data integrations to enable faster decisions, as well as a scalable strategy to help organizations see immediate results,” Winny Patro, CEO and Co-founder, Recordent India, stated.
“Traditional products are difficult to use and built for specialists. In many situations, firms spend anywhere between Rs. 30,000 and Rs. 1 lakh per month on data analytics staff. This does not include software expenditures. Recordent’s user-friendly and technologically advanced platform facilitates and digitizes every business journey flawlessly. At Recordent, we are devoted to offering solutions that assist organisations of all sizes in bringing new decision intelligence to their operations,” he says.
Recordent’s Analytics is comprehensive that’s faster, smarter and simpler. It offers a Dashboard to the user that dives deeper into analyzing every function of a business. Recordent provides a dedicated team that collaborates with an organization for setting up this analytics feature and its platform is highly secured with AES256 gold standard encryption. With Recordent’s real-time analytics, businesses can analyse every aspect of the payment and credit processes like sales, overdue, payments, collections etc. Real-time analytics gives access to the credit information of customers enabling businesses to accurately evaluate their creditworthiness.
Recordent’s business intelligence analytics tools analyse a wide range of data points to improve the accuracy of growth and business forecasts. These insights can be used by smart businesses to make informed business decisions that lead to better profit margins, more efficient operations, and quicker growth.
Businesses already using Tally accounting software, can immediately start using the analytics feature on Recordent, through its customized Tally plug-in. Other accounting software’s are also supported through a custom-mode. Alternatively, businesses can also opt for the simple FTP process to integrate the data to use the analytics feature.
Launched in 2020, the fintech firm has recently received funding of 400k USD via angel investing from renowned companies and organizations like IIM Calcutta Innovation Park, the Family Office of Kantamaneni, and other angel investors from India and the US.
