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India's fifth largest private sector bank YES BANK has announced the launch of a unique digital working capital management solution YES TRANSACT
The management soulution will help the customers to digitize the complete process of invoice presentment, collection of payments, reconciliation and monitoring.
It will also 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.
Now, 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.
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.
The bank has on-boarded 450 clients which is a mix of SMEs and mid-sized corporate for YES TRANSACT: ON-THE-GO.
"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," said Managing Director and CEO YES BANK, Rana Kapoor.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)