Is your SME victimized by fraud?

Fraud affects many SMEs annually. Being the victim of fraud and embezzlement is not a bolt out of the blue. It happens every now and then. Small business owners find it rough and hard to digest. The front pages of tabloids are filled up with countless news of scams, scandals, money laundering, etc. done by big firms on a big scale. However, the news about any SME victimized by fraud is seldom given that much importance.

In India, small and medium enterprises play a pivotal role in our flourishing economy. And if so many SMEs are victimized by fraud then it directly impacts our Indian economy. SMEs employ millions in our country and reverberates the same figure globally. Nevertheless, SMEs are more vulnerable to fraud than any other type of business. And the technology required to counter fraudulent activities in SMEs is the need of the hour.

In any SME, their supply chain and inventory management plays a vital role and these departments are the breeding ground for any kind of fraud. Say for example a fraud like collusion with vendors to supply counterfeit products, theft of finished products/packaging material and so on. Inventory management is the bottom-line of these frauds.

However, recent developments in the technological sector have given a new ray of hope for SMEs.  For all SMEs who are worried about their inventory management, technology can be their saviour. Retigence Technologies offerspredictive analytics engine to all those SMEs frustrated with their inventory management.  Predictive analytics infuses life to your inventory management by crunching the data and coming out with figures on what to keep, what not to keep and how much to keep. Retigence Technologies offers all-in-one solutions to every problem that your inventory is stuck with.