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Alat for business: What It is and How to Scale Your Business Using It

 

By Felix Osezua Sep 01, 2023

 

Leveraging Digital Banking to Scale Your Business - Explored.

 

 

The accelerated digitalization of banking services globally has been a boon for small and medium-sized enterprises (SMEs), primarily through platforms like Alat by Wema. For businesses, keeping up to date with the latest financial technologies and practices can be greatly advantaged. Alat can be the stepping stone for your business to leap into a world of total financial control and efficiency. We will delve into what Alat for business is and how you can take your business to new heights using this innovative platform.

 

What Is Alat for Business?

 

Alat by Wema is Nigeria's first fully digital bank, aimed at helping businesses and individuals manage their finances in a more effective and reliable way. Alat is an online, mobile platform that offers a wide range of financial services such as savings, paying bills, purchasing airtime, and transferring funds without having to visit a physical bank branch.

 

For businesses, Alat introduces a completely unique opportunity, enabling them to perform all banking transactions at the click of a button, right from their offices or while on the go. It presents a host of features customized for businesses, making banking more personalized, convenient, secure and efficient.

 

Wema Bank's Alat for Business also offers automation of recurring expenses, issuance of virtual dollar cards for international transactions, free bank transfers, and real-time monitoring of expenses. It also provides a feature to save automatically, reduce stress, and grow the business's finances steadily and predictably.

 

The application comes with a monthly transaction limit of about N2 billion, which can enable businesses to scale up on transactions as they like.

 

Moreover, online digital banking for business allows individuals to either have a single or multiple signatory business account. All of these are done virtually, without the need to visit and step into the banking hall for authorization.

 

How to Scale Your Business Using Alat For Business

 

Now that we know what Alat for business is, it is essential to understand how you can leverage its capabilities to scale your business.

 

1. Seamless Customer Transactions: Alat makes businesses more customer-friendly, providing swift and seamless transactions. With faster transaction processing, businesses can attract more customers, ultimately leading to increased sales and better profitability.

 

2. Maximize Revenue Growth: Alat is best for businesses whose profits depend largely on sales and customer transactions. You can use Alat's features such as prompt payment of utility bills, payment of school fees, payroll and others to increase your profits without the stress of collecting cash in person or receiving and shipping cheques.

 

3. Daily Savings and Budgeting: Consistently saving money via your budget and spending plan enables the swift attainment of your goals. Knowing your budget's remaining balance is made simpler with this feature.

 

4. Spend-to-Earn Growth: Helping your business expand, Alat enables you to accomplish objectives aligned with targets. With it, buying and selling products via the Internet can yield greater earnings without incurring sales commission fees. This can potentially boost your profits over time.

 

5. Improved Financial Management: Digital tools by Alat enable efficient management of business finances. Managing various payments and invoices becomes more streamlined through this feature. With this, you can make better financial decisions for business success.

 

6. Saving Cost and Time: The process of using traditional banking can be time-consuming and costly at the same time. With Alat, businesses can save on costs associated with financial transactions. The time saved can be invested in core business activities, thus enhancing productivity.

 

7. Real-time Reporting: Alat provides businesses with real-time reporting and analytics. This feature allows businesses to keep track of their financial health and make informed decisions.

 

8. International Transactions: Alat’s virtual dollar card feature makes it easier for businesses to make international transactions. By removing the hassles associated with foreign exchange and international payments, businesses can easily expand their operations globally.

 

How To Get Started With Alat For Business

 

Getting started with Alat for business is pretty straightforward. Follow these few steps to begin using the Alat for business application today!

 

1. Go to your browser, search for Alat for business, and launch the application 

 

2. Once it opens, click on the sign-up option.

 

3. Select your preferred profile type: This could be either a single or multiple signatory.

 

4. Type your account number in the space provided.

 

5. You will receive an OTP sent to the email/phone number that's linked to your account number. Enter the OTP as instructed.

 

6. As the owner of the business, you will be required to Input admin details. This is something similar to "About Me." 

 

7. You may choose to enter an additional account (if any)

 

8. For multiple signatories, you are required to upload board resolution

 

9. Finally, click to submit

 

After the successful submission of your details, your request will be forwarded to the Wema branch that is in charge of finalizing your onboarding. Once your information is verified, A username will be sent to your phone number, while the default password sent to your email address. 

 

In conclusion, Alat for Business is a game-changing platform for businesses of all sizes. In the digital era, where speed, efficiency, and convenience are the norms, integrating Alat can empower your business management strategy. One can leverage the power of its technology to automate processes, boost productivity, and ultimately, scale up.

 

Now that you have gained a better understanding of Alat and how you can leverage its capabilities to scale your business. Don’t hesitate to use its features for faster transactions, easier and quicker cash conversion, and the ability to send funds in real-time.

 

With Alat, your business will grow exponentially. And when you're in search of enhancing your bottom line, you'll see Alat is the right solution for you.

 

Get started with Alat for Business today!