We provide online insolvency service to individuals, corporations, and Insolvency Professional & Resolution Professionals(RP). The Solvemint insolvency software provides for a comprehensive solution to manage all insolvency-related matters. Solvemint is a premiere for insolvency service in India.
Insolvency: A Brief Overview
It’s imperative to understand what insolvency is before we proceed any further. Insolvency is a state of financial distress during which an individual or organization is unable to pay their bills. The state of insolvency leads to insolvency proceedings under which legal action is taken against the insolvent entity. During this process, the assets might be liquidated to pay off outstanding debts. Not only that, business owners also approach creditors to restructure their debts into achievable installments. Usually, creditors are responsive to these proceedings because they desire repayment, even if it’s slowed down.
However, if a business organization desires to restructure the company’s debt, it can present a suitable plan to all the stakeholders outlining how the overhead expenses within the company can be reduced to continue the business operations. These could be cost-reduction or any other methods that can provide the necessary support. All the stakeholders can take a decision on how to maintain enough cash flow for operations as well as pay the outstanding debts.
Factors Contributing to Insolvency
The survival or the downfall of a company is dependent on multiple factors. The challenges faced should be taken care of in a timely fashion for growth and success.
- Inadequate Hiring
In an organization, the accounting and human resource departments play a significant role. A wrong hire in one of these would mean improper allocation of budgets leading to overspending as expenses go up and money doesn’t flow in.
- Increased Vendor Costs
When the vendor costs rise, it impacts the overall business. Higher prices for goods and services means it adds up to the consumer cost. It might result in losing clients, thus insufficient funds for the company’s stakeholders.
- Lawsuit Financing
If an organization has to bear the burden of multiple lawsuits from customers or business associates, it can lead a company to insolvency. Huge amounts have to be paid in the name of damages, thus ceasing operations.
- Lapsed Consumer Interest
This usually happens when a business does not evolve according to market trends and customers’ changing needs. Losing consumers means reduced revenue with no influx of money for bills or the creditors’ investments.
Your One-Stop Insolvency Management Solution: Solvemint
Solvemint is the best insolvency software providing exceptional insolvency service in India. We offer end-to-end solutions to all your insolvency needs. Solvemint is the best choice when dealing with insolvency for individuals and business. Solvemint is a tool that can help you as well as all your stakeholders in saving time for scalable management solutions and achieving fast-track insolvency. All the involved parties will benefit from Solvemint, as it is in compliance with India’s Insolvency and Bankruptcy Code 2016. Thus, Solvemint is considered an expert when it comes to insolvency service in India.
Solvemint Insolvency Services
Solvemint is a secure portal for you to store all your case information in one place. Throughout the lifecycle of an insolvency case, creditors require many documents that should be readily available, and Solvemint does that for you. With a single dashboard for all your needs, the Solvemint insolvency service saves you time and money, along with providing you with an audit-friendly trail. Moreover, with optimized data storage, you can also generate quick customized reports.
For Resolution Professionals
Solvemint’s insolvency service in India is a one-stop for all interim Resolution Professionals (RP) as it provides you with the option of bulk communication and easy updates with all the stakeholders involved in this process. You can easily communicate with them on the progress, status, claims, EOI, demand, information, or the like, without worrying about your Gmail quota, email-service provider, etc. The Solvemint software also lets you manage all the stakeholders, assets, & office sites using a simple web-based interface.
Solvemint allows all partners to stay connected and updated through a single dashboard with real-time updates. Along with that, weekly reports and automatic notice generation ensures that all partners are kept in the loop with the latest developments in the insolvency case. It helps partners to arrive at economically sound and swift strategies within a short period of time. Solvemint’s insolvency service in India is compliant with the Insolvency and Bankruptcy Code, 2016. It also has an option of e-auctions.
Cross verification of information and details of the insolvent entity and its assets is often a time-consuming and tedious process for buyers. Solvemint’s insolvency service automates the whole auction process with an e-auction, thus saving buyers the time and effort. In an e-auction, the accuracy, authenticity, and adequacy of the auction is not compromised in any way. The e-auction provided by Solvemint’s insolvency service in India is a highly superior method for buyers looking at purchasing insolvent assets.
Top Features of Solvemint
Our exclusive insolvency software provides you with unique insolvency service spanning across multiple industries. Here are a few elements of Solvemint that we proud ourselves upon with respect to superior insolvency service in India.
- All-in-One Dashboard
Solvemint allows you to manage all your workflow, databases, claims, EOI’s, and the like from a single dashboard.
- Swift Communication
Bulk emailers let you update all stakeholders about the progress and status of the insolvency case with a single click.
- Streamlined Creditors
Solvemint helps you in better creditor-management by providing regular updates and emails to keep them informed.
- Efficient Time-Management
Solvemint’s insolvency service has auto-generation of reports with a customization feature to save time.
- Meticulous Alert System
Solvemint improves transparency with regular updates to all the stakeholders, ensuring accountability.
- Real-time Reports
You can generate instant information on government compliant forms and legislative forms in the prescribed format.
- Efficient Data-Management
With the provision of secure cloud services, Solvemint ensures complete safety of your data for as long as you’d like.
- Easy Access
Solvemint enhances insolvency service by allowing you access to the case files from any tablet or PC, any desk, anywhere.
- Individualized Solutions
Whether you’re a creditor, a buyer, a resolution professional, or a partner with the insolvent entity, Solvemint is for you.
- Low-Cost Fee
We levy a minimal charge for the insolvency service provided by the Solvemint software and maintenance of data.