Introduction:
Kalyani Transo Private Limited stands as one of India's top 10 transport companies, renowned for its efficient services. However, the company faced significant hurdles in managing payments to drivers and vendors effectively. Despite having a dedicated team of over 30 individuals, controlling the validity, accuracy, legality, reporting, and accounting of transactions proved challenging due to the sheer volume of daily payments. The existing fleet management software lacked the sophistication needed to meet the company's accounting and compliance needs. Consequently, the owner anticipated an annual organic revenue leakage of 4-5 crore under norma circumstances.

Challenges Faced:

1. Volume of Transactions: The high volume of daily payments to drivers and vendors made it difficult to maintain control and accuracy.
2. Lack of Financial Acumen: Existing fleet management software lacked the necessary financial acumen to handle complex accounting and compliance requirements.
3. Manual Processes: Despite deploying a sizable team, manual processes resulted in errors and inefficiencies.
4. Risk of Fraud: With limited validation processes in place, there was a heightened risk of fraudulent activities and unauthorized changes to bank account details.
5. Reporting and Reconciliation: Inadequate reporting mechanisms made it challenging to reconcile payments accurately.

Solution Implemented

Recognizing the pressing need for a solution to address these challenges, Kalyani Transo Private Limited turned to Zeerow Automated Payment Suite. This suite provided a comprehensive solution tailored to the company's unique requirements.

Key Features of the Zeerow Automated Payment Suite:

1. Validation Funnel: A validation funnel was established for every incoming vendor and driver, ensuring rigorous verification of bank account details.
2. Penny Drop Verification: Utilizing penny drop features, bank accounts of vendors and drivers were verified, mitigating the risk of fraudulent activities.
3. Single-Click Payments: Enabled the company to make payments to drivers and vendors effortlessly with a single click, improving efficiency.
4. Batch Payment Functionality: Facilitated the initiation of batch payments to thousands of drivers, reducing manual workload and streamlining processes.
5. Comprehensive Ledger Access: Provided access to comprehensive ledgers for both drivers and vendors, simplifying reconciliation processes.
6. Automated Account Verification: New vendor accounts were automatically verified using the penny drop functionality, ensuring payments were directed to verified accounts.

Results Achieved:

1. Improved Control: Kalyani Transo gained better control over its financial operations, ensuring validity, accuracy, legality, and accountability of transactions.
2. Enhanced Efficiency: Streamlined payment processes led to increased efficiency, allowing for faster and more accurate payments.
3. Reduced Risk: Robust verification measures minimized the risk of fraudulent activities and errors in payment processing.
4. Improved Compliance: Zeerow's automated suite ensured compliance with financial regulations by verifying vendor details and maintaining proper records.