Late payments are a huge drawback of the Indian B2B market space. Late payments in no time converts in bad debts and it almost becomes impossible for SMEs to acquire back their hard earned money, thereby considerably reducing their growth. Timely payments can help them pay off their debts and invest more in the business but, with bad debts on an all time high, it becomes impossible to survive in the business, leave alone growth and development. Also, with no way of payment recovery, businesses are left with no other option than writing off the bad debts while debtors take undue advantage of this and keep withholding the payment.
This is where Debtors Watch comes in the scene. Founded by Deepanjan Periwal, Debtors Watch is a platform which works as a product-market fit not only for SMEs but, for other businesses as well. Debtors Watch is one of its kind of a web portal that increasingly assists businesses in analysing the credit worthiness of its customers, reporting faulty traders and performing credit checks critically. In fact,it is working as a boon for businesses all around and is significantly helping them in getting hold of past frauds done by their clients and customers.
By allowing businesses to report the trade faults of its customers, Debtors Watch is not only helping the business extract their pending payments but, is also helping prospective businesses to get hold of the records regarding fraud traders. Further, the Debtors Watch collects data from the Ministry of Company Affairs (MCA) and the judgements from court and tribunal and gives its access to its users. Apart from letting its users add its clients to the watch list for analysing their creditworthiness, the businesses can even report a fraud trade for free on Debtors Watch. This unique portal is definitely helping businesses pave new avenues of success by helping them prevent bad debts whilst improving their cash flows.