SMEs have seen an exponential growth over the last decade. The number is estimated to be at 42.50 million, registered & unregistered together in India. Kickstarting and keeping an SME running in business is not an easy job for any business owner. They need to take a lot of stakeholders into consideration – customers (too obvious), employees, suppliers, vendors and partners to ensure their satisfaction with the services and payment. Regardless of all the ideologies, people need money and they are all working hard for it. You, as a business owner, need to ensure that everyone gets their fair commission and timely payment.
Ramesh is a bakery and confectionery store owner in Delhi. People call him “Ramesh Sir” for his goodwill nature. His day-to-day life includes getting materials like bread, yeast, egg, milk etc. from different suppliers, transporting it to the factory for manufacturing cakes and other bakery items and sending it to a vendor or directly selling it to a customer who requests for cakes. He also has to look after about 100 employees that are working under him in the factory and in the shops. Initially, it was easy for him to look out for everyone’s satisfaction and make various bill payments like electricity and water, paying employees and vendor payments. But now, the size of his business is growing with more employees and new branches opening up in different areas of Delhi and he is unable to manage the payments along with the other activities.
He has automated the attendance system for his employees and a few parts of the manufacturing process but he still has difficulties in making and tracking payments. So, as a person keen to implement technological solutions to make his life easier, he decided to automate payment for his employees and vendors as well. He thought of using a bulk payment solution and a vendor payment system for vendor payment management and automated bill payment. But another challenge in front of him was to decide which payment solution to implement, there were so many in the market!
After a long research and asking many experts, Ramesh chose Easebuzz automate payment solution because it offered everything and it was so easy to install as well! Ramesh can now automate payment and collect from a customer corresponding to a transaction. Following which the Easebuzz software helps him make payments to the vendors who register themselves and also calculates the commission on each transaction to be paid (on the basis of what Ramesh has decided) and settles it with the merchant. Ramesh can now handle multiple vendors with a single platform and he doesn’t need a nodal account to do so. Moreover, his dashboard reflects a reconciliation report with respect to automated payments made to each vendor and merchant. It is very easy and quick for him to onboard the vendors onto the platform and he can start transactions within 10 minutes.
Easebuzz automate payment system has changed Ramesh’s life completely. He doesn’t have to worry about making timely payment to his vendors and employees anymore. He receives ample positive responses from the vendors who praise him for his new-age thinking and for adopting simple technological solutions to automate payments. He also has plenty of time in hand now to spend with his family and work on improving his business idea. He is planning to extend his business to sell confectionery along with his bakery. Let’s hope the best for him. He encouraged a lot of other business owners, including his competitors to choose a vendor payment solution like Easebuzz to automate payments. Meanwhile, if you are a business owner and you have issues in managing payments of your SME, check out Easebuzz’s Bridge Buzz vendor payment solution to automate payment.
