Managing accounts payable just got easier.
Automating small business transactions with PaytmSimplify bill payments today
ChallengeA small business owner of an e-commerce company is looking for an easier way to manage the financial transactions for over 30 recurring vendors. The business owner regularly receives electronic invoices with multiple due dates. The owner is spending over 10 hours a week just tracking finances and paying invoices. More time spent on accounts payable means less time ensuring the business is operating smoothly and customers are satisfied.
SolutionWith Paytm, the business owner can now automate the receiving of invoices by automatically uploading them to an easy-to-view web platform via an accounts payable email address. The owner can login to schedule payments to all 30 vendors and set up automatic payments for trusted vendors up to a certain threshold amount.
BenefitEvery electronic invoice the company receives is now automatically synced into one dashboard. Paper bills can be uploaded in seconds by taking a photo of the bill. This offers the owner a unified view of all business-related finances with intuitive tools for scheduling and deferring payments—providing a flexible way to keep money moving. And, having the ability to see and schedule all upcoming payments means the owner no longer needs to stress about late or missed payments. With Paytm, more time can be spent on other areas of the business, like checking inventory, adding new product offerings, and less on consolidating finances.