To reach a larger market, receive payments without stress, improve their inventory management and scale as a business, hundreds of Small and Medium-scale Enterprises (SMEs) in Ibadan Nigeria recently adopted Paylink.ng, an e-commerce platform that enables businesses to easily showcase their product and service offerings and get paid instantly, for the management of their business processes.
This development occurred at the recently concluded University of Ibadan (UI) SME Fair themed "Co-Create the Future" which empowered owners and managers of small and medium-scale enterprises to interact with prospects and access business insights capable of accelerating their entrepreneurial growth.
"The current economic realities have mandated SMEs to adopt technology-driven solutions to drive the end-to-end management of their daily operations in a seamless, pocket-friendly and efficient manner," said Chuks Anitche, Business Lead, Payment Applications and Vertical Markets, at SystemSpecs, frontline financial technology brand and developers of Paylink.ng.
Anitche noted some of the challenges SMEs encounter to include cash flow management, poor customer service, inability to track payments, poor inventory management, failed reconciliations, time and resources management, cost of registering and maintaining an online store, as well as the lack of tailor-made solutions to help them resolve some of their challenges.
The SystemSpecs representative, therefore, remarked that, with digital tools like Paylink.ng, businesses would be able to upscale and maintain steady cash flow, increase revenue, profitability, achieve improved visible, sustain business growth, expand customer reach, reduce operational inefficiencies, and significantly contribute to the growth of the economy.
Released earlier in the year for individuals and businesses, Paylink is fast gaining acceptance among merchants across Africa as a fast, affordable and reliable platform for funds collection, especially for semi-formal businesses. It enables users to receive payments easily by simply sharing a link with their payers via social media, email, WhatsApp, or other preferred channels while with its free online store, merchants can display their goods and services for the world to see.
The University of Ibadan SME Fair also provided participants varied opportunities which included the discussion of specific business issues with SME coaches and mentors, interaction with business and product researchers as well as guidance on intellectual property protection.