Case studies Pharmaceutical manufacturer

A mid-sized pharma player chose to integrate CashFlo's Payments Automation solution with Tally to address multiple gaps in the vendor payment processes

INDUSTRY

Pharmaceutical

PRODUCTS USED

Payments & Reconciliation

KEY SUCCESS METRIC

Less than 2 weeks to integrate with Tally and go live

TURNOVER

~INR 400 Cr

Objective

This fast-growing brand had Tally as the accounting system and was facing challenges with manual vendor payment processes. There were multiple processes happening outside of Tally which made the processes error prone. Payment files were created manually, and then manually uploaded on the bank portal. Bank integration with tally was extremely complex. Vendor account details were maintained on excel files. Debit notes and advances were booked on account and created complexity in reconciliation. Also, the leadership did not have full control over these processes because of manual handling of the files by multiple teams.

Solution Provided

CashFlo Payments and reconciliation solution integrated with the client's Tally to automate their vendor payments process and reconciliation. The vendor master is maintained in CashFlo, with proper KYC checks (validates GSTN, PAN and bank account with a penny drop) while onboarding. The client can now release payments from the portal without manually creating payment files. The system also automatically reconciles the payments made and automates the payment voucher entry into Tally, saving a lot of time for the AP team. Detailed payment advices are shared automatically with the vendors right after the payments are released. This has completely eliminated the need to integrate with any bank and allowed the client the option to switch banks with ease.

CashFlo's integration with Tally was quicker than expected. In addition, their product solved a bunch of problems which Tally was not able to solve in our AP processes. Bank reconciliation is smooth and maintaining a vendor master has become very easy. In addition, it ensures 100% process compliance and has brought transparency into vendor payments. We don't need to invest in large enterprise ERP for a few years now.