If you’re a business owner or an employee reading this today – kudos for your resilience. You deserve it!
Banking and finance is broken for businesses
In the end, businesses are almost always finding themselves juggling between multiple login interfaces – from their bank accounts to their accounting softwares like Quickbooks or Zoho to even corporate card applications like Happay – all of which are fine solutions by themselves.The problem is – all these solutions are efficient on their own but they don’t talk to each other.The need of the hour today is – to have an integrated financial solution. One that provides businesses with banking, payments, accounting, expense management – in short everything together, in one place. Growing businesses have growing needs – the most important of which is complete control over their finances. Juggling multiple dashboards together and manually uploading and tracking tons of excel sheets doesn’t give that control. At Open, we have been working hard to solve the challenges our users face, be it manually tracking unnecessary spends or reconciling every single payment. You can visit our website or read our comprehensive article on how Open’s online bank account helps businesses do their banking & finance better but I wanted to highlight the basics first:
Get paid by forwarding invoice on email
Imagine a simple online bank account with which you as a business owner & your team can create GST-compliant invoices for payment collection. You forward this invoice to your customer’s email address. They pay you directly through the payment link that is integrated into the invoice – via UPI or debit cards or credit cards or netbanking – it’s their choice! The moment money hits your account, you’re notified – so you know who has paid you & who hasn’t. Does this sound simple yet useful?Pay faster with one Excel file upload
Now let me paint the other side of the picture. To pay all your employees and vendors – all you need to do is upload a simple excel file into this bank account with basic information like your employee or vendor’s name, email address, their bank account numbers, and the IFSC Codes – that’s it. You’ll be able to pay salaries on time or make payments to your vendors without any fail – directly from this one account. What’s more?Every single payment that has been made will get reflected in the bookkeeping section under expenses made – categorized as your accounting team would need them to be.If this sounded intriguing to you, then you’ll love the next bit am sure.
Track every rupee spent without chasing anyone
Instead of reviewing hundreds of expenses every month, what if you could set up a budget, ensure all spends remain within that budget, and for any duplicate or unusual spend – you or the right team is notified instantly? What if every member of your team is empowered to spend when and where necessary without waiting for approvals and queuing up during month-end reconciliation with receipts at hand?All of this and more can be achieved with Open’s corporate cards that are connected with this bank account which in turn literally let’s you track every rupee spent for your business.
Reports that help you learn more about your business
Bookkeeping reports like Profit & Loss, Cashflow, etc. help businesses understand where exactly is each rupee coming from or going, drilling down into departments, merchants, customers, and taxes! I don’t need to tell you it is one of the most powerful features to have.On top of it, if your GST and TDS calculations are automatically done and can be paid directly from this one bank account without even logging into the government portals – isn’t this the peace of mind you’ve been vying for this long?This is the power of the online bank account – your Open account. Together. Simple. Powerful.