Wednesday, March 15, 2023

EnKash Launches ‘Bill Pay’ Product For Indian Businesses

* EnKash provides an efficient, streamlined platform for bill payments that saves time, money and reduces leakages in the system

* Offers Auto Reminder Notifications and Auto Bill Fetch feature

* Enables businesses save on late payment fees, enjoy early payment discounts offered by billers, and Easy & Digitised reconciliation of bills on the platform itself

* Helps increase almost 100% process efficiency, 90% reduction in manhours and 30% organisational savings through automation

The COVID-19 pandemic has significantly hastened the pace of ongoing trends across all industries, including FinTech. Till recently, it was a huge and painful task for businesses to streamline their bill payments, especially for companies having more than 3-4 offices. Most of the businesses relied on manual handling of bills and approval from central office based on submitted hard copies which often resulted in tedious tasks of tracking down the bills across offices, late payment penalties or discontinuation of services. To address these challenges, EnKash, Asia's first and smartest spend management company, has introduced the Bill Payment product for businesses. This product allows businesses to make multiple and bulk utility bill payments with a single sign-on on its platform. It also allows bill payments across various branches/ offices at one go reducing man-hours by almost 90%

The bill payment service comes with additional benefits like an increase in process efficiency by almost 100%, and an enhancement of organizational savings by 30%. With EnKash, businesses can manage branches in both centralized and decentralized ways. The product offers businesses to add billers, get reminders and initiate a single payment for all office bills with a single click. Additionally, the platform provides multiple users with a customized approval matrix with different layers, including Maker, Checker, and Approver, enabling businesses to manage their spending more effectively and in a transparent way.

The features such as Auto Reminder Notifications and Auto Fetch Bills further streamline the bill payment process for companies. The businesses can straight away omit late payment fees, obtain early payment discounts offered by billers, and enjoy easy and digitized reconciliation on the platform itself.

EnKash also provides the convenience of making these payments through various modes such as connecting banking, net banking, corporate card or using the auto-debit feature.

Commenting on the launch, Hemant Vishnoi, Co-founder, EnKash said, “The tedious process of multiple bill payments in a legacy system has been a major challenge for businesses.  EnKash, with its new product, aims to solve this problem by simplifying bill payment-process for businesses and making it hassle free by automating it. The time spent on administrative tasks can be best utilised for strategic cash flow management decisions. The product is easily integrated with accounting software/ ERPs making it easy for two-way sync as soon as the bill is generated, and payment is made. We look forward to bringing more such products which can streamline cash flow problems for mid-market and large size companies.”

EnKash is Asia’s 1st spend management platform. The platform helps businesses optimize their cash flows and manage payables, receivables & expenses. EnKash also offers a range of corporate cards for mid-market enterprises (MMEs). The platform is leveraged by over 1,50,000+ businesses, processing over USD 3.5 bn+ payments on an annualized basis.

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