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India's SME-focused Digital Neo Bank EZOTO Gearing up for Launch in June 2019

Business Finance

Press Trust of India  |  MUMBAI 

/ -- Small businesses (SMEs) in India spend significant time for mundane work like sales invoice tracking, payment to vendors and employees, and get frustrated with the alien world of GST and accounting. Close to 35% of the entrepreneur's time is utilized in non-revenue generating activities like invoicing and bank reconciliation. This is a big concern for young startups and SMEs. This further led to concerns like improper accounting, non-compliance, extended credit period, penalties, etc.

EZOTO is an SME-focused Neo Bank, which will automate banking and accounting for modern businesses of India. EZOTO wants to disrupt traditional banking by offering API-driven digital banking for SMEs.

EZOTO founders have been in the fintech space for a significant time and know the SME sector very well. Small businesses, entrepreneurs and freelancers have started moving to app-based banking, and EZOTO offers a whole new range of services. EZOTO has three core functions - Smart Banking, Invoicing (GST billing), and Automated accounting.

Smart Banking is a new age banking where one can collect and make payments directly attached with invoices. Smart banking will enable 100+ vendor and employee payments in just a second. Moreover, EZOTO will combine bank transaction statements of all banks and create business dashboard for sales, purchase and expense. Invoicing (GST billing) is need of the hour, as it is must for all GST registered businesses. When one creates all sales and purchase and expense in EZOTO, it will automatically create all desired report for GST filing. GST enabled billing will be harnessing Machine learning to detect GST frauds. Automated accounting will be based on integrated bank transaction and auto reconciliation using machine learning. Modern businesses by millennial entrepreneurs need more than what traditional business banks offer. This accounting software has build an intuitive layer over traditional banking to make easy for entrepreneurs. This will not only reduce cost but also give entrepreneurs real time data which will help boost sales. EZOTO founders request modern entrepreneurs to get early access of EZOTO software and say goodbye to boring banking and accounting works. With the launch date of EZOTO around the corner, more than 3,000 modern SMEs have got early access of EZOTO. Download EZOTO App and get early access to futuristic banking.


EZOTO makes accounting and invoicing easy and secure. This software is made for small businesses and entrepreneurs who can not afford full time accountant. EZOTO will help you manage your cash flow, credit and P&L with bliss. EZOTO is a growth partner for small businesses.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, June 18 2019. 11:30 IST