As 2022 winds to a close, we are bringing you annual insights into MSME digital activity on the Khatabook platform – 2022, A Year in Review, offering a glimpse of Indian MSME’s rising reliance on digital solutions. In 2022, the Khatabook Platform recorded more than 2 billion transactions with a cumulative value of transactions exceeding 15 trillion INR. With over 20 lakh daily active users on the App representing nearly every district in India, Khatabook represents a huge chunk of MSME business activities and provides a glimpse into the same.
Here’s what happened EVERY HOUR on Khatabook App in 2022
- Every hour, close to 2.5 lakh New Transaction Entries Were Recorded by MSMEs
- Every hour, More than 1,200 new ledgers were created on Khatabook App
- Every hour, more than 25K reminders of pending payments were sent by merchants to their customers using the App
- Every hour, more than 1,900 reports were being shared by MSMEs with their customers on the App,
- And hourly, more than 1,400 reports were downloaded by MSMEs from the App.
In some other interesting insights,
- The most numbers of transactions were recorded in November 2022, while the highest cumulative amount in transactions was recorded in April 2022.
- The highest number of transaction entries were recorded in a day on 6th December 2022
- Merchants from Maharashtra state were most active on the App, followed by Delhi and Rajasthan with regards to adding most customers to their Khatabook App, Recording maximum transactions, and Sending the maximum number of payment reminders to their customers through the App.
- MSMEs in Haryana, Rajasthan, and Madhya Pradesh experienced the most average time to recover money from their customers compared to other states.
- Maximum transactions were recorded by grocery, followed by mobile recharge & accessories, followed by Restaurants, cafes & bakeries by business categories.
- Hospitals and Pharma category experienced the most average time to recover money from their customers compared to other categories.
These data-driven insights are testament to how far the local Small and medium business ecosystem in India has come with their digital adoption and proficiency. Imagine the number of hours MSMEs collectively saved this year by digitally managing and recording their transactions, reports, payment collections, etc., compared to doing it manually. This cumulative efficiency of the MSME segment due to digitization contributes significantly to the country’s progress as this segment forms a significant part of our GDP.