XPNS has been developed to help growing businesses optimise expense processing costs, improve cash flow planning, and drive bottom-line savings
Zaggle, a B2B SaaS fintech providing spend automation solutions and corporate cards, has launched XPNS, which it claims is India's first do-it-yourself (DIY) SaaS-based employee expense automation platform. XPNS has been developed to help growing businesses optimise expense processing costs, improve cash flow planning, and drive bottom-line savings.
In today's rapidly digitising economy, many businesses still need to rely on updated manual expense processes, resulting in inefficiencies and increased costs. In fact, 90 per cent of companies continue to use expensive and time-consuming manual methods, spending up to 10 hours each month and over $5 per receipt to process expenses.
XPNS revolutionises expense management by empowering growing businesses with a fully digitalised platform that simplifies the entire process from filing to reimbursement. With an easy-to-access, self-service interface, it allows businesses to migrate from a manual to a fully automated expense workflow in less than 30 minutes, reducing the time and costs of managing expenses by 75 per cent.
Raj N, chairman and founder of Zaggle, stated, "Do-it-yourself applications have transformed the consumer payments space and our customers, especially tech-savvy businesses, expect similar intuitive consumer-grade solutions to manage business payments. We want to provide the best and most intuitive expense processing solution to streamline expenses, strengthen financial controls, and achieve a healthy bottom line."
Speaking on the launch, Avinash Godkhindi, managing director and CEO of Zaggle, said that in today's digital economy, many businesses are managing expenses manually. There is a significant demand for innovative technology solutions to modernise expense management and maximise efficiencies.
"However, businesses are caught between either traditional manual methods or automation solutions primarily designed for large-scale enterprises with complex functional requirements and integrations that are ill-suited to their needs. With XPNS, our primary focus is to empower growing businesses with solutions that deliver speed, simplicity, and employee delight," he added.
The platform combines the power of the core expense management software with XPNS prepaid cards, seamlessly integrating the two. Businesses can issue and manage cards directly from the system and define spending limits, to manage budgets and minimise the incidence of fraud and overspending.
Incorporated in 2011, Zaggle operates in the B2B2C segment and is amongst a small number of players with a diversified offering of financial technology products and services. It claims to have issued prepaid cards in India in partnership with various banking partners, at 12.7 per cent of India's total prepaid transaction value as of March 31, 2022. It has collaborated with IndusInd Bank Limited, Yes Bank Limited and NSDL Payments Bank Limited; and has issued over 45 million co-branded prepaid cards since its inception.