Did you know that 82% of startups fail due to poor cash flow management? Obviously then, choosing the right business payments platform can make all the difference. SALT and Skydo are two prominent platforms that offer unique solutions for managing finances.
Source | Salt Vs Skydo
5 Reasons why businesses use SALT over Skydo:
1. No invoice splitting for large ticket transactions
Unlike Skydo, SALT eliminates the need for invoice splitting on large transactions. This simplifies your financial processes and helps maintain smooth cash flow. With SALT, you benefit from faster funding times and transparent pricing with no hidden fees. SALT integrates seamlessly with your existing accounting systems. Skydo, on the other hand, has a $10,000 USD limit per transaction, which can be limiting for growing businesses handling large transactions.
2. Sustainable flat fee structure
While Skydo's low variable fees may seem appealing, fee hikes are likely as any platform will eventually seek profitability, leading to unpredictable costs. Variable fees can take a larger share of your profits as your business grows.
In contrast, SALT hasoffered a stable fee structure from the start. SALT is a compelling alternative to Skydo with its 1.75% flat fee structure, inclusive of GST.
3. Established experience in international transactions
SALT stands out as the go-to platform, especially for early-stage founders and startup investors needing reliable international transaction solutions. Since 2022, SALT has shown expertise in handling complex cross-border transactions, unlike Skydo, which entered the market only in 2023. SALT provides a strong network and essential compliance support for handling international regulations.
From SALT users: “SALT has a perfect payment solution for inward remittance from our overseas clients. We get most of our payments within 1-2 days in our bank account.”
4. Dedicated relationship managers
SALT offers dedicated relationship managers who offer personalized support, unlike Skydo's general customer service available for all customers. These managers help you use the platform smoothly and give advice suited to your specific needs. With SALT, you get a single point of contact who understands your business and is always ready to assist.
5. Customer Experience & Transparency
Cheaper does not mean higher quality. SALT ensures a smooth customer experience right from Day 0, during their sign up process.
Through our relationship managers, we're able to deliver a near tailor-made experience for all our clients.
When SALT says "no hidden fees", we mean it. Our 1.75% fee is all that you will have to calculate while receiving your payments. The GST applicable on our service is included in this minimal fee. The same cannot be said for most other platforms.
All these advantages make SALT the right choice for startups, marketing agencies, freelancers, and consultancies looking to optimise their financial management.
Get started with SALT
SALT is the best platform compared to Skydo because it offers special tools, a supportive community of founders and investors, detailed analytics, easy integration, and affordable solutions. Getting started with SALT is easy. Follow these steps to begin:
1. Visit the Website: Go to SALT.
2. Create an Account: Click "Sign Up" or "Get Started" and provide your information.
3. Verify Your Information: Complete the verification process with the necessary documents and connect your INR account.
4. Explore the Dashboard: Familiarise yourself with the tools and features available.
You're now ready to receive payments from foreign clients!
For any assistance, reach out to SALT's dedicated support team. Start managing your startup's finances efficiently with SALT today!
FAQs
How does SALT's service for dedicated relationship managers work?
SALT will appoint a dedicated relationship manager to help you use the platform and make the process simple. They serve as a single point of contact so that you get specialized guidance and quick solutions to any problems.
What advantages does SALT's fee structure offer?
Compared to traditional services, SALT offers a fee structure that is both transparent and competitive. This can help you with significant savings. With SALT, you won’t need to pay any additional fees, and startups can put more funds into expanding their business.
Is there a signup fee for SALT?
No, SALT does not charge any signup fee. It is completely free for all businesses.
Does SALT offer FIRC?
Yes, SALT does provide FIRC, and that too for free. You can simply download the FIRC from your dashboard for every transaction you make.
What is invoice splitting, and is there a reason it can be unfavourable?
Splitting an invoice into smaller payment amounts is known as invoice splitting. Despite its convenience, it can eventually have an impact on cash flow and financial management. It can make accounting more difficult and sometimes delay payment processing.
How safe are payments with SALT?
Payments with SALT are 100% secure. We work with banks regulated by RBI and respective regulators in each country, and every transaction are held and managed by these regulated partners.
