Saakh is a B2B payment collection app that automates payment reminders and tracks customer payment behavior through a credit scoring system, similar to CIBIL. By rewarding timely payments and making late payment histories transparent, Saakh enhances cash flow predictability for businesses.
Funding
Funding not disclosed
Founders
Product
Problem
Many B2B vendors struggle with delayed payments and unpredictable cash flow due to a lack of transparency and incentives for timely payments. Traditional methods of chasing payments are time-consuming and often strain customer relationships. Businesses lack a clear understanding of their customers' payment behavior and the associated financial risks.
Solution
Saakh is a B2B payment collection platform designed to automate payment reminders and improve customer payment behavior. The platform incentivizes timely payments by rewarding customers with redeemable Saakh coins. Saakh creates a credit score, similar to CIBIL, based on a customer's past payment habits, providing businesses with insights into payment reliability. By making payment behavior transparent and rewarding good payment practices, Saakh helps businesses improve cash flow predictability and reduce losses associated with late payments.
Target Audience
Saakh primarily targets MSMEs and corporates seeking to improve their payment collection process, reduce financial risks, and build trust in their B2B relationships.
Features
- Automated payment reminders with payment links sent for each invoice
- Customer credit scoring based on payment history, similar to CIBIL
- Reward system with Saakh coins for timely payments
- Transparency of customer payment behavior to encourage promptness
- Measurement of monetary loss caused by customer's late payments
- Mobile app to track invoices and customer outstanding balances
- Vendor screening platform with 350+ data points to assess vendor credibility and prevent fraud
- Fraud detection for GST, willful defaulters, bank auctions, and businesses under liquidation