SMEA Analytics to guide MSME units

Visakhapatnam: Andhra Pradesh Innovation Society (APIS) has incubated a Fintech start-up SMEA Analytics to lay healthy and wealthy runway to the MSME units in the state. SMEA Analytics is the first of its kind start-up company in AP which is already running a unit in Hyderabad. SMEA Analytics, is creating platform using Artificial Intelligence and Machine Learning for analysis of financial statements and providing positive inputs for the benefit of MSMEs.

There are around 6.3 crore MSME units currently operating in India, and among them, over 10 per cent are sick. With the central government direct support to the MSME sector, it is creating more employment opportunities.

"The unemployment will not only have impact on economic status, but also creates greater skepticism and pessimism at individual level leading to 'erosion of skills', increasing crime rates and ultimately resulting in social unrest and disgruntlement", said Chief Executive Officer of SMEA Analytics, N P Desai.

The company has revived 15 MSME units which are currently going stronger than ever.

The company analyses the MSME units operations and efficiencies to guide the units into a profitable records. The company will check up various parameters of the units and suggest the units to take preventive methods to continue in right tracks. The service is completely at free of cost.

The company is preparing an exclusive formula and specially designed mobile apps to the MSME units," Desai said. A book authored by N P Desai "The Unexplored Goldmine" is going to be released on the MSMEs Day, being celebrated on June 27 every year.