Top three ways hylobiz is bridging the gap between ERPs and Banks to help Small and Medium Business Owners improvise their receivables and payables?
By: Hylo Biz
Tags: Payments, Hylobiz, Banking, Ownership, Business

Top three ways hylobiz is bridging the gap between ERPs and Banks to help Small and Medium Business Owners improvise their receivables and payables? Hylo Biz Dec 23, 2020·4 min read

For any business, it can be overwhelming to deal with multiple ERP’s. And its more challenging for a small business owner or the Accountants teams of medium size enterprises to reconcile and settle all accounts with multiple system in place. Result is — human errors, long tedious manual tasks , mental stress and most importantly lack of real-time visibility of cashflow.

Could there be a system that integrates all ERP’s and Banking transactions offering real-time visibility to my business cashflow? The answer is YES!- Hylobiz.

Empowers your decision with right set of data Assists in eliminating manual task that are prone to error Structure and organize your accounts and contacts Offers you a real-time view to your payables and receivables

Here are top three ways Hylobiz is helping Business Owners and Accountants to improve their receivables and payables -

Manage Multiple Businesses

Doug has been a business owner since last 5 years, he has excelled in his dealership model and with support from family he ventured into FMCG and apparel category as well.

Starting was easy with limited suppliers and customers, but as the demand started kicking off, he was finding it hard to manage inventory, chase payments, manage ERP’s and send purchase order and reminders. The accountant of the firm where finding it hard to reconcile and settle all accounts for the day.

Any business owner whether running a single or multiple businesses can relate to above situation.

When you run a business “ you need to empower your business with right tools so that you can focus of growth and revenues”

Hylobiz offers small and medium size businesses

Integrated ERP’s that allow data continuous flow, offering you a real-time visibility to working capital. Single View of all payables and receivables. Multiple Bank Connectivity for greater transparency and reduced complexity Invoice Tracking and Collection, both digitally and via cash and cheque. Automated reconciliation for the accountants and bookkeepers to make your accounts audit-ready and free from manual error Distribution Network that helps in structuring teams, channelling right communication, real-time collaboration and wider customer reach.

Business owners, Accountants and Finance team using Hylobiz observed 40% efficiency on working capital. Get efficient now with Hylobiz. Click here to know more.

Business Health Score

NO matter what era it is, but your business health is determined by the cashflow and liabilities your business owns. If your debts/loans or dues are more than your cashflow and asset it could surely indicate a bad business health score.

I wish I could see all my payables and receivables from all ERP’s and Banks in one view said one of our very first customer. To his amazement, we had exactly the same thing to offer — A dashboard that shows the Total Receivables, Total Payables in real-time.

Businesses using Hylobiz saw an increase of 35% to their digital payments. Ask your buyer to pay your invoice via Hylobiz. Click here to know more

One can also see the breakdown of how much Receivable, Payable was Digital, Cash and Cheque with a total amount and a comparison with last month.

Real time reporting

A doctor operating on a person ,keeping a tab on his vitals via heartbeat monitor, he may not like the delays as that would affect his health. Same is the case for your business, any delay in reconciling, reporting and missing can badly affect your business health.

So, real-time reporting is the key, and Hylobiz can offer immense help in that -

Get real-time updates on

Cash or cheque of your invoice collection

Digital Collection

Invoices sent via ERP’s

Reconcile payment received on different ERP’s

EOD reconciliation

Account Settlement

With multiple bank connectivity, ability for end to end status tracking of transactions.

Help your sales & marketing team to build your business as a brand. Signup and expand your reach

Businesses can flourish if the owner knows “how effectively use a tool”, Hylobiz is one such tool that can empower your business.

Get in touch with us, and we can help you with the smooth adoption of digital channels. Hylobiz one-stop solution for all your accountant, sales and business needs to reconcile, integrate ERP’s, send invoice digitally, track cash and cheque collection and create a distribution channel.