Happay- A New Way To File Your Business Expense Reports

Posted on Sep 26 2015 - 2:52pm by Aparna
happay

happay

If you are an entrepreneur, you would definitely know the pain that you will have to face while filing your expenses. It is one of the most important and yet the most difficult task in any business – keeping track of your money. Stop worrying, an Indian start-up has come up with a solution to this problem. Happay is a three year old Indian start-up started by Varun Rathi and Anshul Rai, which provide solutions for B2B payments mainly targeting SMEs and other start-ups.

Happay was initially started three years ago by creating peer to peer payment application Happay, which was the first network and bank agnostic payments app in India. Now the company has evolved from B2C to B2B solutions provider, where they help businesses with vendor to vendor payments and employee reimbursements. Basically they provide solutions where by small business can maintain their expenses in a better way. When most of the payment applications and service providers focussed on innovations in the B2C segment, Happay found a great void in the B2B segment which needs to be addressed.

happay

happay

Happay’s solution in mainly targeting SMEs with an employee range of 50 to 1500. They provide companies a new card for their employees, which is based on a software layer on top of the normal prepaid Visa card. The system can be remotely controlled through a web platform and a mobile app. The business owners are provided with capabilities for real time monitoring and tracking with the help of the dashboard and admin app. The whole idea is to take the pain out of the conventional method of filing reimbursements for both the employees and the finance team of the companies. As of now, in India, there is no other company which provide business expense management that is compatible with a visa or MasterCard. The pricing structure of the service currently works out to a monthly expense of Rs. 200 per card.

happay

happay

Happay has partnered with Visa and Ratnakar Bank, and built a complete expense management solution linked to the prepaid debit card. Happay also integrates with accounting softwares like Intuit Quickbooks, Tally, and SAP based ERP solutions. This makes the whole process from expense to accounting completely automated without requiring any manual data intervention. There is also a manual expense recording feature incorporated into happay, which lets employees fill in the details of an offline transaction such as an auto ride by taking a picture of the meter to record the expense. The cards will also work in all ATMs, POS terminals and also for online transactions.

happay

happay

Early customers of Happay are other start-ups such as hyper local delivery start-ups Grofers and TinyOwl. Both of them use Happay’s cards to pay at the shops to buy products that they then bring to the customers. Subway and Habanero, which has multiple outlets across the country uses their cards to meet their day to day operating expenses, instead of their old way of sending cash from the central office in instalments. Other business uses their cards to pass on cash reimbursements for things such as medical and fuel allowances.

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