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.
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.
K. Balachandran, Co-Founder and Director, IRIS, said, “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.”
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.