Before the GST era, sales tax compliance was relatively easy to understand and comply with, states the World Bank[1]. Since the introduction of GST, there have been multiple policy updates. It resulted in technical as Read more…
Get ready to say goodbye to regular accounts – virtual accounts are here to stay! A Virtual Account, as the name suggests, is a non-physical bank account that you can create for your customers. These Read more…
Managing employee expenses is a major task for businesses of all sizes, across different industries. What are employee expenses? Well, the term is pretty much self-explanatory: they are business expenses made by employees for different Read more…
Being a startup founder is not an easy feat. Especially when it comes to the never-ending battle of managing expenses. If you have been paying your company’s expenses from your personal credit card, then you’d Read more…
Payroll Management Solutions can solve the growing challenge of timely salary payments for employees in small businesses in India. The reasons for this statement are, firstly, the exponential growth of the Indian Economy(6.8% growth is Read more…
Patently, the HR and Finance department looks after salary payments in any company. But if you run a business, more often you’re pulled into looking over the business finances yourself. Most banks with several tedious Read more…
Webinar : e-Invoicing Under GST from OpenMoney The GST Council, in its 37th meeting on September 20, 2019, recommended the introduction of e-Invoicing in GST for businesses. With the latest development starting from October 01, Read more…
The global market size for expense management for startups and SMEs alone is expected to reach $6.6 Billion by 2028. A number that shouldn’t come as a shock as today’s business trips & meetings are Read more…
If you have recently started a business of your own, chances are that you are frequently being told that you need to get a current account, which begs the question: how can a current account Read more…
Daily, people’s lives are becoming increasingly automated as millions of algorithms make decisions and take actions on consumers’ behalf. The shift toward autonomous finance services starts with automated investment management, savings, and payments. Algorithm-based services Read more…
You’d certainly agree that an online current account for startups and SMEs is more essential than a regular bank account! Whether you’re a small business owner with an uninterrupted cash flow or an established entrepreneur Read more…
Ever stopped to think about why smart payroll software should be your Number 1 priority? The 2020 outbreak changed our outlook on many things. One of which includes prioritizing the hybrid working style. Given this Read more…
Regardless of their size, businesses today show a clear preference for adopting SaaS (Software as a Service) options in favor of infrastructure ownership and its financial as well as logistical burdens. According to a Statista Read more…
Managing business finances is a massive yet slow-moving task for finance teams. We would all agree with it, especially when it comes to the reconciliation of bank statements. Cross-verifying all the accounting data with books Read more…
Over 60 million small and medium businesses account for about one-third of India’s GDP. These SMBs play an important role in maintaining the circular flow of income in the nation’s economy. They are highly inclined Read more…
Imagine that you need to celebrate a colleague’s birthday at the office, that one of your branches has run out of toilet paper, or that you immediately need to reimburse a staff member for a Read more…
Virtual accounts are a compelling alternative for companies to simplify tracking amount receivables! Most companies are looking to stay in control of business cash flow. And Open’s virtual accounts enable businesses to manage expenses smartly. Read more…
The Government of India introduced e-Invoicing in October 2020 through the Goods and Services Tax (GST) System. Although e-Invoicing is not a new technology, its relevance has grown multi-fold in recent times. The pandemic pushed Read more…
Recently, there was a lot of buzz around how the RBI has found four viable products for cross-border payments under its regulatory sandbox. Many of our readers and colleagues didn’t know/hadn’t heard of ‘Regulatory Sandbox. Read more…
Post GST adoption and acceptance, e-Invoicing under GST has now become an integral part of business operations for Indian taxpayers. e-Invoicing under GST system has already been implemented in India since October 01, 2020. A Read more…
The Goods and Services Tax (GST) came into effect on July 01, 2017 in India. Since then, most small and medium-sized businesses have geared up to make their operations compliant with the new tax laws. Read more…
For any GST (Goods and Services Tax) registered business, the most important thing is timely filing of Returns and Challan payments. The GST Council of India has lately laid out a few requirements for the Read more…
Richard Branson, the UK-based entrepreneur rightly said, “You don’t learn to walk by following rules. You learn by doing and falling over.” Any new-age founder can relate to this fairly well. Speaking of which, Indian Read more…
The second part of the two-part blog completes the best practices in neobank UI/UX started in the first part of the blog. It concludes with offering a neobank CX framework that can help neobanks provide Read more…
Neobanks have been making waves for quite some time. And it is clear by now that the hype is not just about offering better bank UI UX compared with the traditional banks but a lot Read more…
We’ve created a 10-point financial checklist for enabling businesses to manage finances like a pro, all year round. Here’s everything you need to know. Do you love the sound of planning? Then we’re sure that Read more…
If cricket is a religion, then IPL is the biggest festival we celebrate every year. And here’s how we at Open – put our best foot forward this IPL season! It is very difficult to miss Read more…
Of late there has been a massive buzz around business automation. So we thought of digging a little deeper to understand the why of it all! While we talk about automating various segments of a Read more…
Starting a business demands not just the right idea & execution capability. It takes courage, perseverance & the appetite to take calculated risks. Most entrepreneurs wear many hats. And while running a business, even small Read more…
It’s time to review your business’ financial insights for the passing financial year, think of the key learnings and make purposeful decisions for the coming year. It’s #ThatTimeOfTheYear to discover opportunities, to step out of Read more…
Struggling with your freelance finances & got no time for your gigs? Neo banks like Open can help you reclaim the time you spend on your business finances.
If you’re a small or medium business owner trying to simplify and manage your business expenses, corporate cards can make your life easier. There are various players in the industry providing seamless card experiences to Read more…
Time is money! And who could agree more to this, other than marketing agencies? Running an agency requires exemplary time management skills. Needless to say, along with other core business skills. Consider the client briefings, Read more…
Everyone will remember the Union Budget 2022 for its brevity. The Budget proposed measures for micro, small and medium enterprises (MSMEs), which contribute over 30 percent to the country’s GDP, to help them recover from Read more…
Neobanks have received significant attention but also massive investments from venture capital firms. Neobanks globally raised more than $12 Billion in 2021, despite the global economic slowdown due to Covid 19. Funding of this scale Read more…
Looking to run a successful campaign and grow your business reach? Running a business is quite a task with the amount of multi-tasking and firefighting one needs to do! Add to that the hassle of Read more…
What Is Neobank? In Australia, Europe, and North America, neobank are digital banks that operate without physical branches. Earlier, these banks used to operate by partnering with traditional banks due to the lack of banking Read more…
Neobanks are topping the charts in terms of capital, value, and business growth both in India and globally. If we look at any smart bird in the FinTech industry, they’ll recommend switching to neobanking, as Read more…
The hyperlocal delivery businesses in India have been thriving on the customers’ demand to get things delivered at the doorstep within a click of a button! Now that the pandemic is clouding the economic outlook, Read more…
Processing payroll is a recurring financial operation for every business. And since payroll is a substantial business expense, small businesses need to set aside dedicated time & resources on it periodically. Research suggests that, on average, Read more…
Payment gateways are the ultimate go-to for both B2B and B2C companies as they ensure your company gets the benefit out of the online payment collection process. And once new customers start availing the services, Read more…
I kickstarted my engineering back in CUSAT, Cochin out of sheer passion for coding. I’ve always set my heart on building tech products & was an active part of all startup communities. During my third Read more…
Prepaid expense cards are still predominantly used by most businesses despite online payments and transactions like UPI soaring in this era of digitization. Why, you ask? While online payments have their place, offline expenses and Read more…
Did you know that 86% Indians shopped online subsequent to Covid-19 in 2020? That’s right! With the onset of the pandemic, people across age groups adopted online shopping in their daily lives. This implies that Read more…
Corporate cards are now growing in popularity, thanks to the efficiency and flexibility they offer. Not to mention, using corporate cards makes life easier for everyone – be that of an employee, or an accountant Read more…
2020 brought about changes in the way businesses collect online payments across the globe. Especially with the pandemic at the forefront, the second wave has shaken the economy and the very core of companies. But Read more…
“A leader is one who knows the way, goes the way, and shows the way”. — John Maxwell Leadership inevitably plays a key role in the growth of an organization. However, acquiring leadership skills is Read more…
Between last year and this year till date, much of the financial and technological revolution has been about navigating the pandemic. Covid-19 forced businesses, big and small, to embrace digitization fast – banking and finance Read more…
As business owners, most of you will agree the satisfaction that comes with every employee being paid on time is an unparalleled one. Payroll processing is definitely one of the most crucial yet still underrated Read more…
E-commerce startups have gone through a lot of changes in the last decade when it comes to managing business finances. The e-commerce industry in India has developed drastically over the years. While the internet was Read more…
Customers don’t want to think about banking. They just want it to work. Traditionally speaking, in India we’ve always been dependent on banks for any financial needs since 1750 BC. This is true for both Read more…
Did you know that Open — Asia’s first neo-banking platform for SMEs and Startups has built virtual cards? That’s right! Open’s virtual cards help manage online subscriptions for your business. But we get it. This Read more…
The one mantra we at Open live by is that — “The groundwork for all happiness is good health!” We like to deal with uncertainties head-on. In that spirit, Open is sponsoring Covid-19 vaccines for Read more…
Vendor payments are crucial to every business — whether they’re for office amenities, SAAS subscriptions, or products & services specific to an organization. Consider this — if you’re an IT service provider, you might have Read more…
Have you ever wondered why business virtual cards have become a smarter alternative to manage your online subscriptions? Let me break it down for you! Since all industries today have a digital footprint, it includes Read more…
Technology is disrupting businesses across industries, and Startups today are taking a liking and adding on to this massive digital transformation in all aspects of their businesses, including making bulk payments! A success story: How Read more…
As a kid, I used to visit the local bank with my father quite often. The daunting thought of reconciling endless accounts & ledgers had steered my early ambitions clear, of becoming a banker. I Read more…
“If you want to start a financial company, instead of spending two years and millions of dollars in forming tons of partnerships, you can get all of that as a service and get going.” ~ Read more…
An uptick in online sales is inevitable in today’s digitally forward world. With more and more customers moving to online shopping, e-commerce sales have been on the rise. Undoubtedly, these online business transactions have witnessed Read more…
The recurring revenue model commonly called recurring payments or subscriptions has been prevalent in India for a long time now. But with the growth of internet penetration and adoption of digital payments, recurring payments have Read more…