ENA Sectors 2024-09-18 15:27:47 <p><span style="font-size:14px"><strong>New Delhi, Sep 18 (KNN)</strong> In a major development for Indias commercial sector, PayMate has joined forces with NPCI Bharat BillPay Ltd. (NBBL), now rebranded as Bharat Connect, to unveil the PayMate BBPS-B2B platform.</span></p> <p><span style="font-size:14px">This initiative is set to revolutionize the way invoicing, payments, and collections are handled across the country.</span></p> <p><span style="font-size:14px">The PayMate BBPS-B2B platform targets a vast audience, encompassing 634 lakh micro, small, and medium enterprises (MSMEs) and 16.6 lakh corporates.</span></p> <p><span style="font-size:14px">Its primary objective is to standardise and digitize commercial processes, addressing long-standing challenges associated with the invoice lifecycle.</span></p> <p><span style="font-size:14px">This new platform is designed to overcome various hurdles in the invoicing process by offering several advanced features. Key among these are real-time invoice status updates, which provide businesses with immediate visibility into their transactions.</span></p> <p><span style="font-size:14px">Additionally, the platform includes financing options to support businesses in managing their cash flow more effectively and streamlines reconciliation processes, thereby reducing administrative overhead.</span></p> <p><span style="font-size:14px">Ajay Adiseshann, Founder, Managing Director, and CEO of PayMate, highlighted the transformative potential of the PayMate-NBBL B2B platform.</span></p> <p><span style="font-size:14px">He stated, The PayMate-NBBL B2B platform is designed to enhance interoperability between buyers and suppliers, ensuring seamless integration between diverse systems while providing access to business background checks and multiple financing options.</span></p> <p><span style="font-size:14px">Adiseshann further elaborated, PayMate's integration with NBBL fosters efficiency by enabling smooth transactions across different systems. This integration enhances the entire digital ecosystem, fr0m ordering to invoicing and reconciliation.</span></p> <p><span style="font-size:14px">With a verified network of businesses and real-time invoice tracking, the platform is set to significantly improve operational efficiency and growth opportunities for businesses across India.</span></p> 39320 https://knnindia.co.in/news/newsdetails/sectors/paymate-and-bharat-connect-launch-bbps-b2b-platform-to-transform-invoicing-and-payments 2024-09-18 15:27:47 knnindia.co.in