Challenges

SMEs in Italy have a low level of financial education and convincing owners to accept a process of innovation and digitization is complex. Therefore, we must find companies with an appropriate organizational culture and accompany them step by step by creating a climate of mutual trust.
Financial institutions have invested heavily in the digitization of credit-related processes for businesses, but have not yet managed to fully involve their customers in this process. Therefore, even banks can find benefit from interfacing with professional consultants capable of explaining to SMEs why it is important to structure their processes and how to do it.Being a reliable counterpart for both SMEs and financial institutions is the main challenge for the services offered by Kalaway.

Primary target

Which group does your product/service primarily target?

Description of Innovation

From the perspective of small and medium-sized enterprises, our portal offers the possibility of monitoring in real time:
- debt to credit institutions
- the rates/pricing/conditions offered by the banks
- the guarantees given.
Furthermore, a dedicated channel is created for the exchange of information with all the type of financial Institutions.
Proprietary cloud platform that allows to monitor the financial situation of SMEs in real time and facilitates the exchange of data between SMEs and banks

Results

Results Include: Creation of a digital, web based platform that addresses key issues in the baking-enterprise relationship such as access to documentation, financial data disclosure, monitoring the credit process, monitoring real cost of debt.

Potential Impact/Results Include: Scaling the solution to allow access for the highest number of banker-users as well as entrepreneur-users, facilitating and optimizing communication with credit institution in a streamlined, standardized and guided process to new credit and financial health monitoring. The solution will empower less sofisticated entrepreneur to access credit on a merit based and put in place an adequate monitoring software to prevent financial distress of the company. The solution will also allow andvanced and group CFO to have a single channel for managing numerous and complex relationships with the banking sector and other financial stakeholders/institutions for multiple companies, and allow them to outsource a cross section of his tasks to specialized consultans on demand.

Through our SaaS + Consulting value proposition we reached so far over 400 stakeholders between bank-users and entrepreneur-users, facilitating credit access and financial monitoring for small SME (<5M€ Turnover) as well as international groups (>200M€ Turnover).