Financial solutions for SME from Yes Bank

Yes Bank and Octopus-e along with the Bombay Master Printers’ Association (BMPA) organised its second seminar on financial knowledge series. The aim of this seminar was to provide a perspective of the financial requirements for SME printing industry. The session also shed light on the need for ERP by Octopus-e.

21 Dec 2013 | By Anand Srinivasan

The Octopus-e and Yes bank speakers were welcomed by Asgar Kothawala, chairman of Almats branding solutions who provided the audience with an instance of Almats’ transformation in production after using an ERP solution. “We were using MS Excel to monitor the stock load and production planning but after using an ERP we have automised our workflow and boosted the production output,” said Kothawala.  

The seminar was attended by 70 delegates from the printing fraternity, ink association and from the Paper trading association (PTA) on 17 December, 2013 at Sunville Banquets, Mumbai.

Octopus-e, a provider of SAP ERP solutions, shared an insight on the need of ERP and the advantages of using an ERP and disadvantages associated with not using it. Siddhesh Sabnis, senior project manager of Octopus-e, said, “One major point of using an ERP is that it shall de-necessitate the use of IT infrastructure thereby facilitating in a streamlined production workflow.” Octopus-e is an accredited SAP ERP solution provider with more than 100 installations in India.

Nirav Dalal, senior president and MD, financial markets, Yes Bank spoke on the effects of currency fluctuation and the ways of hedging the issue. Dalal said, “SME should take into account all the factor before planning an investment. Market research with the help of bank is a must.”

Sandeep Tibrewala, GEVP & regional business leader, business banking, Yes Bank shared with the audience the prospect that a banker looks for in a creditor. Tibrewala said, “It is important to understand the requirements through bankers perspective. Please help and give enough space to the bankers so that they can understand the creditor’s requirements. Today it is mandatory to furnish all the necessary documents without which the banks are helpless be it private or public limited bank.”  

The vote of thanks was provided by Manish Arora, GEVP and country head, emerging business banking, Yes Bank and Vishwanath Shetty, chairman, task group seminars, BMPA.