“X10 Aims Hassle­free fund­ing for Chan­nels”

DQ Channels - - Channel Pulse - Karan Bhatia, CEO, X10 Fi­nan­cial Ser­vices

Karan Bhatia, CEO, X10 Fi­nan­cial ser­vices de­lin­eates his vi­sion and fu­ture plans for X10 fi­nan­cial ser­vices

With fi­nance flow for or­ga­ni­za­tions turn­ing out to be the big­gest night­mare for chan­nel or­ga­ni­za­tions, many are look­ing for var­i­ous op­tions for getting fi­nanced. With banks not be­ing sup­port­ive for the chan­nel sec­tor, pri­vate fund­ing firm, X10 fi­nan­cial ser­vices claims to be the only lender in the coun­try fo­cused on the IT in­dus­try’s fi­nanc­ing re­quire­ments. In an in­ter­ac­tion with DQ Chan­nels, KARAN BHATIA, CEO, X10 Fi­nan­cial ser­vices de­lin­eates his vi­sion and fu­ture plans for X10 fi­nan­cial ser­vices.

What are the top 3 fi­nan­cial pain points of the In­dian IT Distri­bu­tion chan­nel fra­ter­nity and how are you ad­dress­ing them?

IT Distri­bu­tion Business is a vol­ume driven business and pur­chas­ing power is the most im­por­tant fac­tor in it. Pur­chas­ing Power is any­ways linked to own eq­uity and bank credit. So di­rectly or in­di­rectly, fund­ing be­comes the big­gest pain point for this In­dus­try. There are very thin mar­gins in IT Business and to have more and more of profit they need to do more business for which they need ad­e­quate work­ing cap­i­tal.

Sud­den large or­ders and de­lay in col­lec­tion also adds to the pres­sure on the part­ners. All these prob­lems are ex­is­tent be­cause of a lack of work­ing cap­i­tal. X10 Fi­nan­cial Ser­vices is the only NBFC which is fo­cused on serv­ing the IT In­dus­try and we have cus­tom­ized our prod­ucts to meet the fi­nanc­ing re­quire­ments of the part­ners. We help re­sellers ex­pand their business by pro­vid­ing them flex­i­ble growth cap­i­tal. Our In­dus­try knowl­edge al­lows us to serve them in an ef­fi­cient man­ner and help­ing them with their re­quire­ment of ad­di­tional cap­i­tal

There are many fi­nan­cial in­sti­tu­tions both bank­ing and non-bank­ing. In what ways you are dif­fer­ent from the rest?

X10 Fi­nan­cial Ser­vices is the only NBFC which is tar­get­ing the fi­nan­cial needs of the IT Sec­tor ex­clu­sively. Our In­dus­try knowl­edge helps us un­der­stand and cater to their needs in a bet­ter way than other bank or fi­nan­cial in­sti­tu­tions. Bank loans re­quire col­lat­eral while X10 Fi­nan­cial Ser­vices Limited pro­vides un­se­cured loans on the ba­sis of the mar­ket rep­u­ta­tion or cred­i­bil­ity of the part­ner or the com­pany. Bank loans in­volve te­dious, time con­sum­ing pa­per­work while X10 uti­lizes tech­nol­ogy to pro­vide hassle­free and time sav­ing ap­pli­ca­tions. More­over, util­i­sa­tion Lim­its are reg­u­lated by banks while we pro­vide them the free­dom to uti­lize their Lim­its how­ever they want.

What is your Fund­ing model for var­i­ous seg­ments in the chan­nel?

We ba­si­cally cater to the needs of IT Na­tional Dis­trib­u­tors (Tier 1 Dis­trib­u­tors), Re­gional Dis­trib­u­tors (Tier 2 Dis­trib­u­tors) and Part­ners (Tier 3 Dis­trib­u­tors) by pro­vid­ing them with ex­tended credit pe­riod and the work­ing cap­i­tal so­lu­tions as per their spe­cific re­quire­ments by pro­vid­ing the be­low men­tioned prod­ucts for the var­i­ous Fi­nan­cial needs.

Pur­chase In­voice Fi­nanc­ing- We Fi­nance pur­chase of In­ven­tory by re­gional Dis­trib­u­tor, B2B part­ners from Tier 1 Na­tional Dis­trib­u­tors and Tier 2 Re­gional Dis­trib­u­tors of IT Prod­ucts.

Ven­dor Fi­nanc­ing – This prod­uct is some­what sim­i­lar to Pur­chase In­voice Fi­nanc­ing but in this prod­uct Tier 1 Dis­trib­u­tors pur­chase stock from Man­u­fac­tur­ers/OEMs on ex­tended Credit Pe­riod.

Project Fi­nanc­ing- We Fi­nance the project based or­ders placed by cor­po­rates and pub­lic Sec­tor Un­der­tak­ing on Sys­tem In­te­gra­tors and Tier 2 Dis­trib­u­tors and the part­ners.

What is your or­ga­ni­za­tion’s roadmap?

We are plan­ning to launch more prod­ucts to ful­fil all types of fi­nan­cial needs of the var­i­ous part­ners in the IT In­dus­try un­der one roof. We will be the de-facto so­lu­tion provider to serve to the fi­nan­cial needs of the IT In­dus­try. We will soon be launch­ing lease rental fi­nanc­ing and re­ceiv­able fi­nanc­ing. We have al­ready tied up with all the ma­jor IT Dis­trib­u­tors and Re­sellers in the in­dus­try. Many more are in the pipe­line. Our goal is to be the one stop shop for fund­ing needs of IT distri­bu­tion play­ers.

How flex­i­ble is your trans­ac­tion ap­proach?

We are highly flex­i­ble in our ap­proach in terms of fi­nan­cials and their as­sess­ment. We don’t go merely by num­bers or Bal­ance Sheets while tak­ing fund­ing de­ci­sions. We do con­sider the mar­ket cred­i­bil­ity of the part­ners as well as their fu­ture po­ten­tial and ex­pe­ri­ence. We are not rigid in our ap­proach at the time of con­sid­er­ing any part­ner for fund­ing. In the tech­nol­ogy side as well, we have our web por­tal or on­line dash­board in which you just need to up­load your In­voice for getting it funded through X10 and we will pro­vide you our as­sis­tance with­out fol­low­ing any lengthy and cum­ber­some pro­ce­dures.

When any chan­nel part­ner is look­ing for a loan, how he/she can ap­proach X10?

X10 can be reached out for any Fi­nan­cial So­lu­tions and as­sis­tance at info@x10­corp.com or whoso­ever wants to call us can reach out at (0124) 474-2280 or can log on to our web­site and reg­is­ter there as our ex­ec­u­tive will guide you re­gard­ing the set­ting up of the limit and will help you ad­dress your fi­nan­cial re­quire­ments.

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