Thursday, November 24, 2022

IRIS Business Launches Joint “Go To Market” With Hylobiz To Offer An Advanced Connected Business Experience

* The partnership will empower corporate and SME clients to meet their B2B financial and business goals through business process automations.

IRIS- Hylobiz partnership aims to facilitate businesses with automated cash flow, business banking, compliance and commerce digitisation leading to easier credit access for business growth.

Features to benefit businesses across industries:

Pre integrated ERPs and easy to embed the existing tools in business.

Auto reconciliation, quick settlement, and automated reminders enabling better cash flow

Real time tracking of account receivables and payables with dashboards and reports

Digital ledger tracking the financial data accurately

Tracking of account balances and bank statements

Seamless linking of bank accounts to Hylobiz

Digitisation of collections and payouts

The offering will accurately track the outstanding bills and will automate invoicing, payouts and collections digitally to solve the primary glitches that cripple the cash flow and growth of businesses. The blend of technological excellence of Hylobiz platform and financial expertise along with IRIS’ state of the art GST compliance services ecosystem will drive the desired business goals of SMEs, corporates, freelancers, distributors, manufacturers, traders, wholesalers and every other B2B businesses across industries.

In July this year, IRIS was recognised as an authorised Invoice Registration Portal (IRISIRP) for businesses to register their invoices and other prescribed documents and generate IRN for their B2B transactions. With IRIS-Hylobiz, businesses can link their ERP Accounting systems with IRIS-Hylobiz and get access to connected ERP and GST facilities. Automated reconciliation In real time, automated reminders, digital e-invoicing, e-way bills, smart tracking and automation of pay-outs and collections, quick settlement, access to account balance and statement and beneficiary management are some of the top and most needed features every business can leverage on to improve operational and cash-flow efficiency.

”While IRIS helps regulators and companies across the globe to streamline their regulatory compliance reporting , in India we are also a leading provider of solutions to meet  the e-Invoicing and GST filing needs for taxpayers. Along with Hylobiz we will be able to offer a connected experience of cash, commerce and compliance to MSME customers which we feel is one of the key drivers to build a connected and digitised supply chain that will power a 5 trillion and growing economy in the coming decade”, said K. Balachandran, Co-Founder and Director, IRIS.

Vishal Gupta, Founder, CEO, Hylobiz said, “Hylobiz is one of the leading names in the corporate and SME supply chain network with innovative offerings for the segment. Together along with IRIS, we have built this joint offering to serve the SME ecosystem across the country better and deliver all their business needs through one single window. With new mandates on GST compliances being driven by the government to bring all businesses to comply with GST norms we see the impact we can make for tens of millions of SMEs in the country and help them grow their businesses with processes optimisation and access to working capital.

About IRIS

IRIS Business Services Limited [IRIS] is the only listed (BSE/NSE) Indian Fintech company operating in the area of Regtech (Regulatory Technology) with a stack of structured data solutions for organizations globally. Headquartered in Mumbai, India with subsidiaries in USA, Singapore and Italy, the Company has been supporting regulators and filers in about 44 countries and across 5 continents for the past eighteen years .

In recognition for the pioneering work done in the area of bank regulatory reporting in India, IRIS has received the Financial Express Best Fintech Award (2021) from the Union Finance Minister, Smt Nirmala Sitaraman. IRIS has also been voted as the Best Tax Technology solution provider by TIOL consecutively for years 2021(Silver) and 2022 (Jury).

IRIS is an authorized GST Suvidha Provider (GSP) and has been offering tax technology solutions to Indian companies through its tax technology offering - IRISGST since 2017. 

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About Hylobiz

Hylobiz is a Fintech serving to simplify the processes in the B2B ecosystem and is currently operational in India, UAE and US and will soon launch in Indonesia, and Oman. With its Connected ERP and Connected Banking capabilities, the unified solution delivers Cashflow, Compliance, and Commerce automation thereby building Credit readiness through business health profiling and Credit delivery through digital credit infrastructure.

Its web portal and mobile app include the most needed features and benefits for businesses. E-invoicing, eway bills, reconciliation, inventory and invoice management, network sales visibility, business health score, smart dashboard and automated reports, digital storefront, real-time data visibility, pre-integrated ERP, real-time document and workflow and cash flow visibility are some of the services on the platform which bridges the financial and operational requirements of businesses. The Hylobiz is headquartered in Pune, Maharashtra.

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