Zoho Partnership with ICICI to ease business transaction process for MSMEs
New Delhi, Feb 13 (KNN) In a recent collaboration, Zoho has partnered with ICICI Bank so that the current account holders of ICICI can now securely connect their bank account to Zoho Books to help businesses eliminate data entry, automate reconciliation, provide multiple payment options to their customers, request working capital loans, and pay suppliers directly from their accounting platform.
This partnership will give a platform to Micro, Small and Medium Enterprises (MSMEs) in India to experience contextual banking, by connecting their banking and accounting, which was once available only for large companies and corporations with large IT and infrastructure budgets.
Commenting on the pact, Anup Bagchi, Executive Director, ICICI Bank in a press interview said, “ICICI Bank has always pioneered in bringing in digital innovations and provide world-class banking experience to its customers. Keeping this in view, we are delighted to partner with Zoho to bring forth an integrated solution that will offer MSMEs with unparalleled ease of doing business.
He further said that the partnership with Zoho enables MSMEs to bring in the efficiency of automation by connecting seamless banking transactions and bookkeeping on a single platform.
Addition to this, it also enables them to keep a track on all their business expenses on a single platform without having to switch multiple applications.
This will create an eco system of connected banking.
He explained that the accounts payable staff can pay the suppliers right from Zoho books, from where they get to see whom they owe and how much, without switching to online banking interface.
This increases the productivity and also significantly reduces manual errors.