Udhaar App – Frequently Asked Questions (FAQ’s)

Udhaar Frequently Asked Questions (FAQs)

Udhaar App is an excellent tool for managing business operations and getting cash recovered instantly. As a credit management application, Udhaar App has not only been trending in Pakistan but also around the world. The growing popularity of the app has got customers into asking about the working and functionality of the app. Therefore, we bring you the answers to the most frequently asked questions. Let’s dive in.

 

  • Where can I find this app?

Download the Udhaar app straight from the PlayStore or easily by clicking this link here

 

  • How do I create an account?

Setting up an Udhaar account is an easy 3-step process. As soon as you download the Udhaar app, open the app on your smartphone. From here, you will be asked to choose the language you’re comfortable with (English, Urdu, Roman Urdu, Sindhi). For the next step, you’ll be guided to enter the mobile number you want to get registered with the app, and verify the phone number through an automated OTP (One-Time-Pin) generated and sent to your phone via SMS. If the code is not submitted automatically, please open your inbox and enter the code into the app.

On entering the correct code, you’ll now be redirected to a screen where you’ve to enter your personal information such as your Name, Business Name, and Business Category. Here “Business Name” refers to the name of your shop/store, and “Business Category” refers to the sector or area of your business operations.

Setting up an Udhaar account is a one-time and 2-minute process. Once the account is created, you just have to log in and carry on with your business.

 

  • How do I add the first customer?

After successful signup, you’ll be redirected to your Home Screen. On the bottom right corner of the screen, you will see a circular green-colored button. Clicking on this button will give you the option to add a customer through your contact list or enter a customer manually.

If you choose to add a customer through your phonebook, just type the customer’s name, and confirm.

If you choose to add a customer manually you will be required to fill in their name and number (customer’s number is optional, but to get the most out of your experience using a digital Khata app, we suggest you fill all the fields). 

 

  • How do I give udhaar/credit to customers?

After creating a customer account, you can either add transactions straight from a personal chat room or you can access this feature on your home screen by tapping on your customer’s name.

Afterward, you’ll have two options at the bottom of the screen: “Accept Payment” (in Green) and “Give Udhaar” (in Red). Clicking the “Give Udhaar” button in Red will move you on to the next screen where you can enter the Udhaar amount you want to give to the customer. You can further choose from the options like, whether you would like to send auto-reminders to the respective customer or add notes for the Udhaar given to the customer as your own reminder and so much more.

Automate Your Small Business

Automate Your Business

Automation is taking the business world by storm, all hail to the new stream of algorithmic technology that’s accessible for everyone to use. Now brands, regardless of sizes, can create their own automated mechanisms to transform their venture into a more productive, effective, and profitable business.

In this blog, we’re going to cover some of the key steps to reconstructing your business with automation.

 

Choose The Tasks You Think Can Be Automated

Be careful, if you think of it as too obvious or simple. Selecting the right tasks is absolutely crucial and this is where most businesses put their efforts to a false start with automation – so don’t fall into the same trap.

First, you need to examine how automation works and what you can achieve from it because there are plenty of tasks that can be automated, but you probably shouldn’t. There are a plethora of tools for automating web design, translation, content writing, and everything else you could do if you are a business owner or a marketer – but most of the time all you do is insufficient.

 

So What Kind of Tasks Should You be Automating?

If you’re a business owner, outstanding payments are the most crucial aspect of running a business when it comes to streamlining cash flows. If you are looking to automate collection processes, the Udhaar app might be the right choice for you.

Udhaar is a free application for personal and commercial use. It helps you manage credit with customers and suppliers directly through your smartphone.

Udhaar app is an online ledger (like an online digi-khata or credit book) to record your outstanding debt, and send auto-reminders to customers to increase collection and cash flow.

 

Set Your Automation Targets

Spending on automation tools and investing time in establishing new workflows won’t make any sense if they don’t add profit to your business. So before you put effort into creating new workflows, please ensure you set definite targets that you can use to pave the way for success and refine your processes.

Be specific with clear goals, set targets for each quarter, and be on your way to gauge success.

 

Track Results and Refine Processes

Without specific targets and the right KPIs, you are going to have trouble measuring what sort of impact automation is having on your workflow. Essentially, you won’t be able to point out opportunities to define your automation and maximise results.

A simple alteration to your workflow can add thousands or even more to your profitability when you enable automation to multiply tasks to almost unlimited. 

 

Start Small and Build From There

The key to set up automation is to think big, start small, and build your business over time. Scrutinize your previous processes, track outcomes, and redefine your workflows for better results before you make efforts adding complex automation into the mix.

The said procedure is a lot more gradual but also gets faster to come to terms with. With a blink of an eye, you’ll be sharing your own blogs complementing about how high your conversion rate is thanks to your latest automation.

Should You Sell to Customers on Credit?

Should You Sell to Customers on Credit?

The best thing about retail sales is immediately getting paid after making the sale. The customer pays in cash or uses a credit card and the transaction ends right there. Unfortunately, the process isn’t the same for everyone, some businesses are different.

Credit requests or demands usually put you in an odd position, especially if you own a small or medium-sized business. Selling on credit to a client who has a good history is a good decision, provided your current cash flow can support it. On the other hand, setting terms with a client who has bad credit can go otherwise.

Always remember, the only thing worse than losing a sale is making the sale and not getting paid for it.

 

Offering Credit can be a Sales Tool

Offering credit to commercial clients can be an important sales strategy. It can help you close a greater number of deals, especially if you can afford to be more generous than the rest of the market. If utilized cautiously, credit can help you grow much faster and take things to the next level.

However, credit can also become a double-edged sword as you undertake additional financial risks – sometimes unnecessary. Unpaid Invoices from clients drag your finances and if you give credit to the wrong client on a bulk sale, the damage may be beyond recovery. Therefore, offer credit very carefully.

 

Who should be offered credit?

Offer a net 30-day deadline only to companies that you think can afford to repay in time. Examining this creditworthiness may appear difficult, but it is often very productive. Commercial credit reports on companies are easily available. Unlike consumer credit reports, corporate credit reports don’t require special permission.

The information in these reports is helpful. They accumulate the payment histories of your clientele and offer a way to determine if your potential client is creditworthy. 

At times, making the right credit decision is like hitting the bullseye, especially when the information is distorted. Thus, it’s not possible to be right every time. Your objective should be to manage risk and make informed decisions rather than eliminating all risk.

 

What if you can’t afford to offer terms?

The challenge that small companies often come across is the fact that offering credit creates cash flow problems. Non-payments and delayed payments often result in lost revenues. If you don’t have reserves sufficient to cover your expenses while waiting for payment, you’ll eventually run into problems. These problems can affect your business when it’s growing and derail your finances.

One way to solve this problem is to become a sword and hover over your client’s head. Not all of them but only the spoiled ones. One easy way to get your money recovered is to use the Udhaar app. This app is a blessing for Small retailers who usually trade on credit and have their payments outstanding. With the Udhaar app, you can send auto-reminders and customized reminders with a deadline and details of the transaction to your creditors and get your money back 10 times faster.

 

One last word of advice

If you have never offered credit to clients, you should start now. Start slowly, give yourself time to understand how your cash flow works, and be prepared to deal with sudden cash shortages. Lastly, start building a reliable cash reserve to tap if clients start paying slower than expected. 

 

Udhaar App Ki Chote Businesses Mai Kamyabi Ki Wajah

Udhaar App Ki Chote Businesses Mai Kamyabi Ki Wajah

Kia aap koi business ya dukaan chala rahe hain? Jese kiryana store, medical store, sabzi ki dukaan, mobile ki dukaan, mechanic ki dukaan, stationary shop, ya kuch or? 

Agar han, to ap ko Udhaar ka masla zarur pesh ata hoga jab customers choti bari chezen Udhaar par le jate hain lekin kisi waja se lotana bhool jate hain. Continue reading

Udhaar App Dusri Khata Apps Se Kis Tarah Behter Hai

Udhaar App Dusri Khata Apps Se Kis Tarah Behter Hai

Apni dukaan ka lain dain or munafa barhane ka sab se acha tarika hai ke 1 digital credit management system ko khush-amdeed kahen. Dukaan ka Udhaar sar ka dard ban sakta hai jab ap bhool jaen kisne – kis din – kitna udhaar par saman lia tha. 

Khush-kismati se technology ne is problem ka hal bhe nikal lia or 1 shandar ap banai jis ka naam Udhaar rakha, takey jo dukaandar Udhaar par saman bechte hain, un ke nuqsaan ko kam se kam kia jae or Udhaar par business ko asaan bnaya jae.Continue reading

Udhaar App – Karobar Ko Banaen Digital

Udhaar App - Karobar Ko Banaen Digital

Ap ke karobar mai finance management software, inventory management software, or apke business ka saathi Udhaar app, kisi naimat se kam nahi. Tamam dukaandar, dukan ke malkaan or hara tarah ka karobar karne wale log Udhaar App se faida utha rahe hain.Continue reading

How Can You Offer Credit and Manage Risk?

How Can You Offer Credit and Manage Risk?

Trade on credit often motivates customers to pace up and increase the amount of their spending that otherwise may not be possible. Some businesses choose to offer credit and gain a competitive advantage in the industry. Maintaining a balance between increased sales and the risk of reduced cash flow is a significant part of risk management in your business.

Considering the nature of your business and number of transactions, you may choose not to offer credit to new customers. Before offering a credit facility, understand the following.

 

What sort of risk comes along with offering credit

 

  • Reduction in cash flow

Waiting for customers to pay reduces your ability to order new sets of inventory from suppliers. Many businesses also consider debt financing to reduce this risk.

 

  • Reduction in profit margin 

Providing credit sales often reduces your profit margin and the worst part is, the cost of this only appears in your financial statement. So, you better study the pricing of your products and services before they backfire.

 

  • Large debts

Several outstanding debts can pose a risk to your business. This particularly happens if you are exposed to various single transactions.

 

Perform A Credit Check

A credit check is one of the strategies you can use to fix the risk of bad debt. Before you sell goods on credit, have them complete some sort of contract and sign a credit application form to denote consensus.

 

What to collect from individuals:

  • a confirmation that they have read and understood the terms and conditions and have agreed to abide by them
  • Identification of customers and their contact details
  • Permission to conduct a credit check when necessary

 

What to collect from corporate clients:

  • comprehensive information of all owners, directors or partners
  • 3 trade credit references, at least
  • Confirmation of the applicant to ensure they have read and understood the terms and conditions and have agreed to abide by them.

 

Another way to perform a credit check easily is to automate the process. Preferably for small businesses that sell to individual customers every minute. 

A credit management application to note down every transaction as soon as it takes place and sends a message to the customer mentioning the details of the transaction and the deadline to pay their dues.

Udhaar App is a simple, easy, and reliable business application for personal and commercial use that manages your daily business khata efficiently and offers features such as free SMS reminders, daily, weekly, and monthly account statements, notes, and whatnot.

 

Keep a track of debtors

You can either use Udhaar App if you want to be things as simple or you can use a good filing system to keep track of customers. This will assist you to follow up outstanding payments and keep balanced cash flow.

6 Ways to Grow Your Business Without Spending Money

6 Ways to Grow Your Business Without Spending Money

This article will cover some of the best ideas for you to steal and implement in your business for faster growth. They are all practical ideas from the most successful businesses along with some action steps you can imitate and run with right away, without any research, test, or otherwise delay implementing. Moreover, there’s no need to spend money to see them into action.

 Pick the easy ones that are most effective for your business, and don’t hesitate to contact us if you face any problem or have difficulty implementing them because this is the time when we all have to work together.

Continue reading

How to Ask for Payment Professionally

How to Ask for Payment Professionally

To ask for payment professionally, businesses, whether small or large, should always forward their payment requests using polite tone but in a straightforward language. Give the client the benefit of doubt and make sure they received the invoice in question. Small businesses should follow up periodically by email to ask for payment and if the client still does not clear the outstanding dues, the next step should be to speak to the customer by phone before considering cutting off future relations with the client or filing a lawsuit.

Continue reading

Why Pakistani Store Owners Trust Udhaar App?

Why Pakistani Store Owners Trust Udhaar App?

A while ago, two budding developers designed an exceptional problem solver for the age-old hassle and named it Udhaar app. To date, Udhaar app has acquired thousands of daily users and monetary transactions are recorded in millions of rupees. 

The store owners turned down the old and traditional paper clutters, and handwritten records because certainly, the loss was insufferable for the ones counting on the funds from several unknown customers who bought goods on credit along with a promise to pay the outstanding amount in a couple of days. Unfortunately, those customers didn’t show up only until the store owner himself suffered the debt. 

This unforeseen situation has put the small business owners out on the frontline thinking about a way out. This is when businesses realize that they need a digital solution. Paper registers and journals are the sorts of notes that you prepare and never look back to them. However, records on your mobile phone will be much more accessible and secure. 

The problem at hand marked the day for the Udhaar app. And since day one of the app launch, the popularity never stopped growing. People believed that they can trust Udhaar app with all their valuable information because the return had been improved dramatically. The security they found was mind-blowing and reliability spoke for itself. 

 

The Turning Point

Udhaar app is certainly not only for the forgetfulness of the people but it’s much more than that. Udhaar app gained popularity all because of the underlying features. Let’s go through them and understand the functionality.

 

Top-Class Management

Regular audits regarding the debts of your business are mandatory, but doing it manually is stressful and time-consuming without the use of technology. Your business could face trouble if payments are delayed or customers have defaulted and you could eventually go bankrupt. Oscar Udhaar, helps you keep track of your customers’ payment schedules and receive payment on time.   

 

The Invincible Errors

Without an advanced credit management app, your business has to manually review data and identify errors. In addition to this taking an unnecessary amount of time and energy, the risks associated with human error and data theft are significant. Thanks to Oscar Udhaar, hiring additional employees to analyze data is no longer needed and the risk of human error also diminishes. When you upgrade to an automated application, you are ensured that all data is entered into the system accurately and can be extracted on demand within minutes.

 

Safety and Security 

Protecting your customer’s data is a serious concern that requires your full attention. Your customers trust you with their phone numbers, business records, and other important information. Any mishap with this data and your customers get affected by identity theft or financial fraud. Moreover, the organization may have to face a public relations controversy and be exposed to lawsuits. Fortunately, Oscar Udhaar keeps all your customer information in the high-security cloud base and saves the information as soon as entries are made. It is a paperless process that can save your business good amounts of money otherwise spent on consultation.