Small-scale businesses have been the spine of the country for many years. Every kind of business, small or large, has something to contribute to a sizable chunk of economic development. But some problems remain unresolved. India is going digital with regards to business marketing gateways, GST payments, credit-debit instalments, etc. There are a variety of apps and websites that offer business tips and marketing ideas. Until 2017, no other local app helped small business owners with their credit and debit records.
In 2017, three college friends founded OkCredit, and it became available on Google Play Store to deliver a fuss-free online records experience for small business owners and merchants. It was developed not as a past-time startup idea but was meant to solve small business owners’ problems and help with business growth.
What is OkCredit?
OkCredit is a mobile-sourced solution for common business people and their customers to help them record credit and payment transactions digitally across the country. It provides business people with a simple and safe means of managing credit, payment records, and debt records for their business carried out on an account basis.
It has made all transactions and documents payment digital—thus reducing the hassle of managing paper account books, also known as Bahi Khata. It offers on-demand clarity of the vendor’s record to the customers. The mobile app is quite handy, and data about any transaction can be received by both the parties (merchant and shopper) via free SMS. It ensures that both parties are informed and leaves no room for doubt.
Any small business owner can download this app, including those merchants who sell on loan. Other than that, grocery stores, pharmacy stores, electronic shops, garment stores, cigarette stores, etc., can install this app to maintain a digital record book.
OkCredit equips the highest security firewalls. Therefore, the transaction data shared between customers and vendors remain safe, and business transactions seem hassle-free. It is India’s very own “Digital Udhaar Bahi Khata”. With this Made-in-India digital account/record book, you can manage all your accounts smoothly. You can:
- Add new customers;
- Keep a record of all transactions;
- Send easy payment reminders to those who haven’t paid yet;
- Receive instant payments from customers, suppliers, etc.
Advantages of Using OkCredit
Some of the advantages of using OkCredit are listed as follows:
- Excellent user interface—effortless to use.
- Customers can receive details regarding any transaction through free SMS.
- It offers a feature where shoppers can access the transaction history by following the link sent on SMS/WhatsApp.
- All the transactions automatically get added; thus, both parties do not have to manually or add information to the app separately. OkCredit takes care of this for them.
- You can also generate a login password to secure the app on your mobile phone or any other device and make payments without worries.
- Another great thing about OkCredit is that it offers various user-preferred local languages that include English, Hindi, Gujarati, Bengali, Marathi, Hinglish, Kannada, Tamil, Telugu, Malayalam, and Punjabi. Availability of multiple languages helps with business growth, as individuals belonging to any state or social strata can use the app.
- It allows you to choose from several payment options according to your convenience.
- It offers automatic data backup, so even if you lose your tech-device or damage your phone, all your data is stored in your account for later retrieval. You just have to verify your registered phone number with OTP and retrieve your saved data.
- As it is a digital platform, you do not need to engage in messy paperwork, pens, notebooks, account books, etc. Now you can easily maintain your ledgers online.
- With automatic online payment reminders, you won’t have to go through the trouble of asking your customers to pay their dues or visit them. The app will keep track of each of your customer’s credit.
- As the app is created using the latest technology, it will help you expand your business digitally and become efficient in account management. Thus, it is an excellent app for small business owners.
How Can a Small Business Owner Keep Books/Records Intact With OkCredit?
OkCredit is a mobile-based solution for small business people that allows them to keep track of credit given to suppliers, merchants, and customers. Mentioned below are few ways in which small business owners can keep books/records intact with the help of OkCredit:
Track payment received from customers, vendors, suppliers
The primary function of the OkCredit app is to help small business owners maintain extensive bookkeeping operations. The app offers them a dashboard where names and other important information of all their customers can be easily added to accomplish this primary purpose. This log can be personalised and can be accessed easily.
It helps both small and large-scale businesses manage and monitor their payment records while identifying customers from whom credit is due with the click of a single button.
Saves time by managing digitised details and centralised record of a business’s monetary transactions
By supporting digitised details, OkCredit assists small business owners in saving both time and financial resources. Macro- and micro-businesses don’t have to grapple diaries any more or update them from time to time. They also don’t need to shell out money on expensive account books where debit and credit details need to be recorded separately.
Rather, all they need to do is download the OkCredit app on their phone and fill in the mandatory payment details safely and customised manner.
Send due payment reminders to customers and collect payments easily
With OkCredit, you can send free SMS to customers or vendors to make due payments.
Have easy access to payment records and statements on any device, any time
With the touch of a button, you can check all the transaction records and payment statements on your mobile phone, tablet, or laptop.
Amidst the covid pandemic, more and more small business owners choose digital transaction and payment methods to make sure their businesses run smoothly. OkCredit helps with that. Gone are the days when Udhar Khata books needed to be filled with multiple cash records and ended up misplaced. OkCredit offers a great user interface and is free to install from the Google Play store, available on Android.
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Q. What types of businesses is OkCredit suitable for?
Ans. This app is built to assist any and every small business owner in India, but it is mainly preferred by:
- Medical and pharmacy shops
- Grocery/General/Provision/Kirana Stores
- Mobile recharge and repair shops
- Mobile accessories shop
- Tea/coffee/juice/snacks kiosks
- Garment shops
- Wholesale vendors
- Paan shops/cigarette stores
- Fruit sellers
- Personal credit bookkeeping
- DTH recharge shops
Q. Why Choose OkCredit?
Ans. There might be plenty of applications available on Appstore, but only OkCredit offers several efficient methods to keep your transaction records intact:
- It offers a simple and easy-to-navigate user interface for clear understanding.
- Your data is safe and secure as it can’t be traced or duped via any their-party apps.
- Regular updates make sure the app is running on the latest software to alleviate your user experience.
- With a click on a button, you can send WhatsApp reminders and SMS to customers for payments with the dual payment reminder feature.