Zaggle, an Indian B2B2C fintech providing card products bundled with value-added SaaS business spend offerings to enterprises and SMEs, has announced the launch of Zoyer to help businesses simplify invoice-to-pay processes with a credit card as an embedded finance offering.

Zoyer unites accounts payable and credit card payments onto a single platform to enable corporates to streamline business to business (B2B) payables for effectively managing operating cash flows and maximising business performance.

The latest innovation is another step in actualising Zaggle’s vision to become a global digital bank that addresses the business value flow from credit and payments needs of enterprises and SMEs alike. Currently, Zaggle’s multi-product suite enables corporates and SMEs in India to manage employee expenses and channel incentives tightly integrated with prepaid cards from a variety of banks in India.

An approximate 90 per cent of mid-market enterprises are reliant on paper-laden and manual processes for managing B2B payments, which hamstrings the ability of finance teams to effectively manage operating cash flows. Purpose-built for the mid-market enterprise segment, Zoyer addresses these challenges: the platform businesses can automate 100 per cent of supplier invoices. It also integrates Zaggle branded card products such as founderscard and corporate credit cards directly into accounts payable workflows allowing for faster payment processing whilst simultaneously offering businesses an additional lease of immediate credit to address funding gaps.

Speaking on the launch Raj N, founder Zaggle, stated: “We are excited to launch Zoyer to drive the next stage of our development and deliver real value to our customers. Business-to-business payment solutions for the mid-market segment represent a trillion-dollar market opportunity and is ripe for disruption. At Zaggle, we are continually striving to deliver best-in-class digital solutions to become the preferred one-stop B2B payments provider for mid-market enterprises. Zoyer reinforces our ongoing commitment to empower medium and small businesses with solutions engineered to optimise core financial management processes and strengthen organisational resilience.”

Speaking on the launch, Avinash Godkhindi, CEO Zaggle, said: “Small and medium enterprises have a significant need to digitalise B2B payment processes so they can rapidly adapt to changing market dynamics. But the segment remains vastly underserved by incumbent solutions. We are proud to bring a functionally rich, business spend management platform with embedded finance capabilities, that makes capital-efficient growth a reality. Beyond digitalising core invoicing and payment flows, with Zoyer we are laying a strong growth foundation by enabling businesses to manage liquidity through better allocation of working capital and providing an immediate credit line tied to credit cards.”

Speaking on the launch Sathish N, CPO Zaggle, said: “Zoyer is part of a rapidly growing portfolio of innovative financial management SaaS solutions that Zaggle is launching for the mid-market enterprise segment. Zoyer is a natural adjacency for us, which makes our spend management offering more comprehensive. It also positions Zaggle as the single source of truth on everything ‘expense’ for businesses that we serve.  In line with the needs of mid-market businesses to adapt capital-light technology and operating models, Zoyer offers a mobile-first, data-driven decisioning, API-first technology platform that enables the continual and efficient roll-out of functional capabilities in days rather than months. Additionally, a platform-centric approach allows us to layer on allied Zaggle branded and third-party products to meet evolving financial needs of businesses, minimising the need for investments in multiple systems.”

A cloud-native platform, Zoyer automates the complete accounts payable lifecycle – from supplier onboarding to invoice capture and approvals, payments and advanced reporting. Digitally enabled workflows streamline approvals and provide businesses unprecedented visibility to make informed decisions for effectively managing payables. In the initial launch, five critical personas and their pain points will be addressed. These will be further enhanced, basis a robust research-based 12-month roadmap in place. Built over the Amazon cloud, Zoyer’s customers can deploy the full-stack platform with minimal upfront investment and a competitive ‘pay as you use’ commercial model.  The unique features built into the platform include:

  • AI and ML-based touchless invoice processing workflows eliminate manual tasks and improve productivity
  • Support for multiple payment modes, including corporate credit cards, real-time payments, and bank transfers in line with business needs.
  • Embedded credit card and virtual card offering provides opportunities to earn cash back and rebates on spend
  • Integrated analytics offers insights to power continuous process improvement and optimise spends.
  • Assured compliance with in-country invoicing, data archival, and taxation regulations
  • API-first architecture for seamless integration with existing ERP and accounting systems as well as payment processors, banks and third-party added value service providers
  • Francis Bignell

    Francis is a journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

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