FloBiz Launches eInvoicing Service on myBillBook

Neobank FloBiz, which works to grow small- to medium-sized businesses (SMBs) in India, has rolled out a new eInvoicing service on its goods and services tax (GST) invoicing and accounting product myBillBook.

This will bolster myBillBook’s advanced billing capabilities, according to the press release, helping it generate invoices that are complaint with the government’s mandate on tax process simplification and improving tax planning.

It also helps businesses manage inventory, track receivables and payments, collect payments and monitor business performance with advanced reports, per the release.

Some of the things that can be done with the new service include adding eInvoicing for all companies at once if the user is dealing with multiple companies through a single account. The platform stores eInvoices permanently through a portal.

It will also let users choose from numerous invoice themes and allows them to add customized templates, and users can also add a QR code to link to the eInvoice if they want to.

Rahul Raj, FloBiz co-founder and CEO, said the company has always been adapting quickly to various new standards for accounting and billing.

“It’s a complete billing solution for SMBs available at an extremely affordable price point and now we are looking forward to serving more high turnover SMB customers via our differentiated & robust offerings,” Raj said. “The addition of e-invoicing to our platform is our endeavour and business-critical service to add value for high turnover businesses who already have placed trust in our technology.

“It also allows us to be future ready as e-invoicing is soon expected to be applicable for 5 Cr+ annual turnover businesses who form a large chunk of the Indian SMB sector.”

Read more: FloBiz Debuts Retail POS Billing Solution myBillBook

PYMNTS wrote about the debut of myBillBook last December, writing that it was intended to be a point of sale billing solution helping retailers, franchises and the Indian economy. The report noted that around 10% of the economy is retail.

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