What is a Proforma Invoice? A proforma invoice is a…
What is Procurement Software? Procurement software is a digital tool that helps businesses automate and streamline their purchasing processes. It is a command centre for everything related to acquiring goods…
What is Procurement Analytics? Procurement analytics is the process of collecting information on business purchases to identify trends, potential cost savings, and areas for improvement in procurement processes. By using…
What is a Resignation Acceptance Letter? A resignation acceptance letter is a formal document sent by an employer to acknowledge an employee’s resignation. It confirms that the employer has received…
Freelancers who provide services need to register for GST if their annual turnover exceeds the threshold of 20 lakh.
The recruitment process is not just about filling job vacancies, it’s about finding the right talent to drive your organisation’s success. Read this crisp blog post to know all about it.
What is Procurement? Procurement is the process of sourcing, acquiring and paying for goods and services for business operations. The business’s internal procurement team procures these goods and services from…
What determines if CGST, SGST or IGST is applicable? What is Central Goods and Services Tax (CGST) and State Goods and Services Tax (SGST)? Read to know.
What is Digital Payment? Digital payments are transactions that occur via digital or online modes. This means both the payer and the payee use electronic mediums to exchange money. The…
Vendor payments are an important part of the procurement cycle, where the business makes the final payment to the supplier. It forms a crucial part of good vendor management and…
A leave management system helps in recording, managing, and tracking employees’ time-off requests. In this blog post, we’ll cover everything about the leave management system in India.
What is Human Resource Planning? Human Resource Planning is the process of planning and managing an organisation’s talent needs. Employees are the most valuable asset of any business – the…
What is Workflow Automation? Workflow automation is the use of technology to automatically perform repetitive tasks within a business process. It aims to simplify and standardize work by reducing tedious…
By registering with Udyog Aadhaar by MSME department businesses can benefit prevalent opportunities, and yes, you can also register offline.
Air travel is a monumental testament to human ingenuity and innovation, arguably one of the most outstanding achievements in our history. The ability to traverse vast continents in mere hours…
What is Procure to Pay Process (P2P)? Procure to pay is the process of acquiring required goods and services from external suppliers. A well-managed, streamlined procure to pay process brings…
What is a Current Account? A current account is a type of bank account that enables account holders to deposit and withdraw funds without notice. Current accounts are mostly opened…
Businesses, small or large, use HR letters at various stages of the employee lifecycle. This article covers the types of HR letters and their formats, along with free MS Word & PDF templates.
The UPI ID or VPA is what you share with your customers or family when they need to make payments to you.
An mPIN is a 6 digit passcode that you must enter every time you wish to make a transaction. Without the mPIN, you cannot make UPI transactions.
On 1st June, the Union Cabinet headed by Prime Minister Narendra Modi revised the MSME definition by changing the investment and turnover figures. Read all about it here.
Any corporate involved in business in India requires a PAN. Be it an Indian company or a foreign company, a PAN is required for a business to run and earn money.
It is easy to wonder why a business needs a current account when savings accounts appear to do the job just as well. But there are significant differences between current…
Wondering what a business account is, and how to pick the right one? Here’s a short guide to business accounts for the uninitiated.
There are several documents required to open a current account. Here’s a list of current account opening documents for various businesses.
What is Cash Management? Cash management is the monitoring, analysing, and controlling the inflow and outflow of funds within an organisation to ensure that it has enough funds to meet…
A patent is a legal document that is granted by the government of the state or the country, depending on the national rules. It gives an inventor of a particular thing, the exclusive right to make, use and sell his or her creation for a specified period of time.
Having a current account is great for your business in more ways than one. Here’s a quick read on the benefits of current accounts.
Monthly Average Balance is a very important yet often misunderstood concept in banking. Read on to learn how MAB actually works!
I was sipping a cup of coffee and having a healthy laugh with my seniors when one of my colleagues came rushing, saying there was an escalation from one of…
Managing payroll can be a complex and time-consuming task for any size of business. It involves a multitude of core activities like calculating salaries and deductions and ensuring timely payments…
What is Accounts Payable (AP) Automation? AP Automation is the use of software to automate tedious tasks like invoice management, approvals, payments, and accounting. Rather than handle these tasks manually,…
A current account is a must-have for businesses of all sizes and stages. A good current account will improve a business’s financial health, streamline processes and boost efficiency. If you’re…
GST Registration is mandatory for certain businesses in India. Read this article to understand the eligibility criteria for GST registration in India.
The GST registration process is conducted online and must be completed on the official GST Portal. However, any business that supplies services with an annual turnover exceeding Rs. 20 lakh…
GST registration is essential for businesses in India to comply with the Goods and Services Tax (GST) law. To complete this process, businesses must provide various documents as required by…
Tech Writers are skilled communicators who transform complex information into simple, easily understandable documentation. While some of us have received professional training and are certified, many writers break into the…
As an art and an industry, technical writing has donned various hats and shapes. It evolved from a ‘communication device to accomplish a task’ to a fleshed-out, fully-fledged machine supporting…
Goods and Services Tax, also known as GST, was introduced by the Government of India on 1 July 2017 to simplify the tax structure on various commodities. The aim of…
GST offers numerous benefits to startups like simple tax processes, online procedures and ease of doing business.
HSN stands for Harmonized System of Nomenclature, and is used to classify goods in a systematic manner.
What is Cost Reduction? Cost reduction is the practice of minimizing expenses to increase profits. The growth of any company is largely determined by how well it can manage its…
A job offer letter is a formal document sent to the candidate who successfully clears the selection process for a particular job position.
What is Factoring? Factoring is a way for businesses to convert unpaid invoices into immediate cash – with no risk involved. How would this work? Here’s an example. Picture this:…
In today’s digital world, you can pay for digital content, services and products with micropayments, which are small online transactions. The amount of these transactions is usually less than ₹200.…
NFC or Near Field Communication is a wireless technology that allows devices to communicate with each other over short distances. NFC payments are contactless payments that use NFC-enabled devices, such…
GST introduced in 2017 was implemented to replace most of the existing taxes to create a structured and centralized taxation policy all over the country, simplifying the way taxes are…
The overdraft facility on your business current account acts as a safety net during unforeseen financial situations providing a pre-approved credit line that extends beyond your account balance. However, before…
HR Automation refers to the use of technology to use automate and streamline various human resources (HR) processes. Automated HR processes are more efficient, accurate and timely than traditional manual processes.…
What is Basic Salary? Basic salary is the fixed amount an employee earns for work done before addition of benefits or any deductions. It is the core salary upon which…
What is a Salary Slip? A salary slip, also known as a payslip, is a document issued by an employer to an employee detailing their monthly pay breakdown. It usually…
What is Procurement Management? Procurement is the strategic acquisition of goods and services necessary for a company’s operations. It is a multi-step process that involves identifying needs and sourcing suppliers,…
ECOM transactions, short for e-commerce transactions, represent the backbone of online commerce. They encompass the buying and selling of goods and services over the Internet, facilitated through an online e-commerce…
Cash transactions refer to the exchange of physical currency as a payment method. It involves using cash to make purchases directly, without the involvement of electronic payment systems. A typical…
What is Source to Pay? Source to pay is the end-to-end process of managing vendors who provide goods and services for a business’s daily operations. The source to pay process…
What is Facilitation Payment? Facilitation payment means the process where an online payment facilitator, often known as a payment gateway aggregator, streamlines and simplifies the payment acceptance process for businesses.…
Understanding the fundamentals of deferred payment is crucial when considering its utilisation. Deferred payment is a financial arrangement in which you can postpone making full payment for goods or services,…
What is a Purchase Order (PO)? A purchase order (PO) is an official document issued to suppliers by the accounts payable or procurement department when purchasing goods or services. A…
Verification of a customer’s credentials is a fundamental aspect of maintaining security and trust in the realm of banking and financial transactions. A cancelled cheque serves as one of the…
A Human Resource Information System (HRIS) is a software solution designed to automate and manage various HR tasks and processes. Read all about HRIS in this blog post.
Introduction to RTGS Transactions Real Time Gross Settlement (RTGS) is a quick fund transfer method that lets customers transfer their funds from one bank account to another electronically. RTGS is…
The adoption of mobile payments has emerged as a game-changer for business owners and consumers. Unlike traditional payment methods, mobile payments utilise digital platforms, making financial transactions more convenient and…
Do you want to know more about the various tax rates levied on all countries’ food and beverages? Read more to find out.
Freelancers will contribute to 50% of the nation’s workforce volumes, and the market size is estimated to touch USD 25 billion by 2025. The ability to choose your work without being tied to an office has become the idea of freedom.
Explore and learn about latest GPay per day limit in India, maximum transaction limit on Google pay, how much money you can send or receive with GPay and the maximum…
In the venture capital industry, the term unicorn refers to any startup that reaches the valuation of $1 billion. Recently one of the most used editing tools, Grammarly became a unicorn.
Consumers can use IMPS without needing a smartphone, which adds to its financial inclusivity, making it a great payment option for the masses.
If you have an ecommerce business on Shopify, you have probably wondered what the best payment gateway for your business is. There are a number of payment providers available and…
Payroll management is an end-to-end process of onboarding employees, calculating their monthly salaries, bonuses, benefits, and tax deductions like EPF, PT, TDS, ESI.
Introduction to NEFT Transactions NEFT or National Elеctronic Fund Transfеr, is a popular modе of transfеrring money from one bank account to another in India. It is a vital еlеctronic…
GST has replaced most other indirect taxes has paved the way for a positive impact on small and medium enterprises. Read more to find out.
What is an Advance Payment? An advancе paymеnt is a payment made before the delivery of goods or sеrvicеs. Sеllеrs or sеrvicе providеrs usually rеquirе it as a guarantее of…
Virtual Payment Address (VPA) is a unique identifier used during transactions. In India, VPA is an integral part of the Unified Payments Interface (UPI), which has gained popularity as the…
Dive into our strategic Valentine’s Day Sales Guide, uncovering expert tips and innovative approaches to boost your sales this season.
An effective talent management strategy attracts and retains top talent and ensures that even current employees develop their skills. Read here how to build one.
Payroll is the process of paying employees for their work. It can be a complex process, but it’s important to get it right to avoid fines and penalties. This blog…
Well, in today’s digital world, making payments and transferring money has become easier than ever, thanks to the Unified Payments Interface, or UPI. UPI was introduced by the National Payments…
Payment schedules are essential for business transactions as they ensure timely and structured monetary exchanges. They serve as roadmaps, outlining when and how payments occur, thus playing a pivotal role…
In this digital universe, a 20-year newly-minted adult tried to figure out how to use net banking with one of her new bank accounts. Like every tech-educated person, she thought,…
The year was 2017. A time before the pandemic. A time when Donald Trump was the US president and when he brought the word “covfefe” into our lives. The typo…
Installment payment is a financial arrangement where a large sum of money is divided into smaller, manageable payments over a specified period. This concept is commonly used for various financial…
Read this comprehensive guide to get an understanding of working capital – definition, formulas, diverse types, and real-world examples.
Revenue based financing (RBF), or royalty-based financing, is a way for businesses to raise capital without putting equity or collateral on the line. If you’re a business owner looking for…
Explore the future of e-commerce with insights into 13 Direct-to-Consumer trends in 2024. Unveil the strategies reshaping interactions to stay ahead!
Explore the key factors affecting working capital requirement. Unlock insights for optimal financial management and business stability.
What is Supply Chain Finance? Supply chain finance (SCF) aims at improving cash flow and efficiency within a supply chain. Supply chain financing, also called reverse factoring or supplier finance,…
Reviewed by: Nihar Gopal Lohiya, PMM RazorpayX Escrow+ What is an Escrow Account? An escrow account holds money or assets until certain conditions are met by the parties involved in…
What is Human Resource Management? Human resource management (HRM) is the strategic and organized approach to managing an organization’s workforce. It involves attracting, developing, and retaining employees to help the…
What is an NBFC? An NBFC (Non-Banking Financial Company) is a financial institution that provides financial services similar to banks but does not hold a banking license. NBFCs play an…
What is Change Management? Change management is a structured approach to implementing and managing organizational change. It refers to the actions taken by the management to transition the entire organization…
Fact checked by Swaroop Kuruvadi, Product Manager of Escrow+ & Lending Products at RazorpayX The first RBI co-lending guidelines were published by the RBI in 2018. Back then, it was…
What is Employee Engagement? Employee engagement is a measure of how emotionally invested employees are in their tasks and the company’s overall goals. Engaged employees are intrinsically motivated. They feel enthusiastic to…
Learn about the top 10 determinants of working capital. Master key factors for optimal cash flow and business resilience.
Learn how to increase conversion rates this Christmas! Explore our guide for expert strategies—SEO optimization, compelling CTAs, cart abandonment emails. Make this season unforgettable for your business.
Employee onboarding is the process of introducing and orienting the new employees with your company’s work culture and processes.
An employee management system, also known as EMS, is software designed to assist the HR department in managing and monitoring employee-related tasks and information.
Explore real-world Working Capital Examples. Learn from renowned brands like Amazon, McDonald’s, and Dell Computers.
Explore the impact of negative working capital on businesses. Learn its definition, implications, examples, and more.
What is an Employee Management System? An employee management system, also known as EMS, is a software application designed to streamline and automate various HR processes within a company. Previously,…
We all want to be part of successful teams – teams that are highly productive and effective, work in perfect harmony, and create magic. But do such teams exist? Having…
What is Onboarding? Onboarding is a series of steps and processes that aims to familiarize new employees with the culture and policies of a new organization. The onboarding process begins well…