The red book, often termed 'bahi khata,' is a familiar name in Indian households, especially among those engaged in any form of business. The manual book served as the sole accounting source for MSMEs until technology emerged on the horizon and permanently transformed the rules of the game by shifting the focus to financial management. Financial management plays a pivotal role in the success of any venture, whether it's a budding micro-enterprise or a small-scale business. While larger corporations possess the resources to manage their accounts effortlessly, the same task poses a challenge for MSMEs. The Indian startup landscape was well aware of these challenges, leading the country's entrepreneurs to develop several indigenous accounting software solutions. One of these solutions is "Hisabkitab," designed to cater to the specific needs of MSMEs.
Founded by Shrigopal, Abhinav, Jitendra, and Sumit, Hisab Kitab aims to address multiple challenges faced by micro and small businesses, including comprehensive accounting and management of their accounting processes. Taking a bold stride, Hisab Kitab is pioneering the development of a cloud-based accounting software specifically tailored to conquer the obstacles encountered by MSMEs, thereby rectifying the shortcomings of current accounting solutions available in the market. Furthermore, recognizing that hiring full-time accountants may not be feasible for all, Hisab Kitab also provides dedicated accountants on a part time basis who manages all accounting tasks under the guidance of experienced professionals. This ensures punctual compliance and comprehensive reporting, empowering businesses to make well-informed decisions and concentrate on their core operations without the burden of accounting complexities.
By automating current manual accounting processes, their software targets a significant 60% reduction in accounting turnaround time, while also leveraging AI to elevate user experience and efficiency, simplifying intricate accounting procedures, and ensuring accuracy and thus bringing a revolution in accounting industry for MSMEs.
