- Digital Working Capital Management for MSME and Corporate Business
- Efficient and secure online platform to accelerate collections and improve working capital cycle
Mumbai, October 13, 2016: YES BANK, India’s fifth largest private sector bank, has launched
YES TRANSACT: InvoiceXpress, a unique Digital Working Capital Management solution that helps to digitize the complete process of invoice presentment, collection of payments, reconciliation and monitoring. The solution will improve the financial processes of a company’s supply chain and increase the efficiency of working capital cycles, leading to faster cash flows and more streamlined operations.
YES TRANSACT: InvoiceXpress allows dealers and distributors to raise invoices online in the company’s format, set alerts and reminders, and view a complete dashboard of individual paid and unpaid dues with or without an ERP system. Multiple dealers can access the portal to pay through multiple payment options. This digital working capital solution is especially relevant for organizations with significant dealer and distributor networks, and business segments having large volumes of collections like travel and tourism, utilities, educational institutes amongst others.
Following are the salient features of YES TRANSACT: InvoiceXpress, which is available online as well as through mobile app:
- Provides one view of all receivables collected through multiple modes viz.
- Payment Gateway (Cards, Net Banking)
- E Collect (RTGS, NEFT, Fund Transfer)
- Cash & Cheque collection at Yes Bank Branches / through doorstep pick-up
- Provides online validation
- Provides capabilities to set /customize Reminders/Alerts specific to the client
This new solution comes on the back of the launch of YES TRANSACT: ON-THE-GO, a mobile-app based Digital Working Capital Management solution that caters to emerging companies. YE S BANK has onboarded 450 clients which is a mix of SMEs and mid-sized corporates for YES TRANSACT: ON-THE-GO. With this launch, YES BANK has taken another step towards ensuring comprehensive digital transaction banking solutions for clients and to provide best-in-class service to customers.
Speaking about the launch, Rana Kapoor, Managing Director & CEO, YES BANK said, “Today, the global business environment has reached an inflection point, where even the simplest processes warrant digitization to ensure ease, efficiency and operational excellence. YES BANK recognizes its responsibility to deliver cutting edge technologies to empower financial processes of its partner clients and has launched the YES TRANSACT: InvoiceXpress to execute unmatched efficiencies into the supply chain of your business.”
About YES BANK
YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.
For more information, please visit the Bank’s website at http://www.yesbank.in/