Introduction
9 Big Problems in NBFCs That Automation Can Solve (Navratri Special). Navratri is the festival of nine nights, where each day celebrates the power of Maa Durga to defeat one form of evil. Just like Maa Durga conquered every challenge, NBFCs (Non-Banking Financial Companies) also face daily struggles that can be conquered with the right weapon, that is: Automation Through Software.
Here are 9 common problems that NBFCs face and how automation helps in solving them, just like defeating one “asur” (problem) every day of Navratri.
Manual Data Entry: The Asur of Errors s
NBFCs often depend on staff entering customer and transaction details manually. This leads to mistakes, missing records, and time loss.
Automation Advantage: With software, data flows directly into the system, reducing errors and saving lots of hours of rework.
Delayed Loan Processing: The Asur of Waiting
Loan approvals and disbursements often take many days when everything is checked manually. Customers feel frustrated, and NBFCs lose chances to grow.
Automation Advantage: With the Quick Loan Feature, you can complete the whole process, from loan application to approval, on one screen. Documents are verified automatically, and approvals happen fast. What earlier took days can now be done in just a few clicks.
Scattered Data: The Asur of Mismanagement
When customer details, branch details, or Customer EMI history are stored in different files and formats, managing them becomes a nightmare.
Automation Advantage: Software brings all data into a single system. Easy to search, easy to track, and easy to manage.
Scaling Up Business: The Asur of Limitations
As NBFCs grow, handling more customers manually is almost impossible. Growth itself becomes a challenge.
Automation Advantage: Automation helps NBFCs scale smoothly. Whether you have 100 customers or 10,000, the system handles everything with the same efficiency.
Future Cash Flow: The Asur of No Clarity
Many NBFCs don’t know how much EMI will come next month. Without this clarity, it is hard to plan future cash flow.
Automation Advantage: The Projection Report shows you the upcoming EMI collections and expected cash flow. This makes planning simple and clear.
Report Generation: The Asur of Endless Files
Branch-wise, investment-wise, or loan-wise reports take a lot of manual effort. By the time they are ready, the data is already old.
Automation Advantage: With automation, NBFCs can generate real-time reports in seconds, accurate, updated, and easy to analyze.
Pending Loan Status: The Asur of Unclear Records
Do you keep checking registers or files again and again just to know which customer has how much loan pending? It takes time and increases mistakes.
Automation Advantage: With the Loan Application Feature, you can easily check the pending loan status of every customer on one screen. No more searching through piles of registers.
Loan Issue Reports: The Asur of Complex Summaries
Checking loan reports is not easy. How much loan is issued, how much is paid, how much is unpaid, all this becomes very complex when done manually.
Automation Advantage: With the Loan Issue Report, you get a full loan summary in one click. Paid, unpaid, and total loan details are clear and ready to print.
Guarantor Records: The Asur of Missing Details
Keeping guarantor records safe is always a tough job. If details are scattered, it becomes a problem when you need them.
Automation Advantage: With the Guarantee List, all guarantor details stay in one place, easy to check anytime.
A Navratri Message for NBFCs
Just like Navratri teaches us that every asur can be defeated with the right shakti (power), NBFCs can defeat these 9 problems with the shakti of automation software.
Instead of fighting with files, delays, and errors every day, NBFCs can focus on what really matters: serving customers, growing business, and building trust!
Right?
This Navratri, let your NBFC celebrate victory over inefficiency with automation.
Happy Navratri!
9 Big Problems in NBFCs That Automation Can Solve (Navratri Special).
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