Hylobiz –Connecting the SME’s Network of Ledgers

This distributor from Gujarat called us and explained their set-up quoting – We use Microsoft and Tally, at our business Microsoft is as per the brands’ specification and provided by them to manage complete procure to pay cycle in a closed loop. While I use Tally for my retailers and other wholesalers for billing, managing accounts, taxation, and compliances. Can Hylobiz Help?

That’s the exact use case where “Hylobiz” could assist you was our answer. 

Hylobiz – empowering Small Business Enterprises assists B2B and small/medium-size businesses to manage their business seamlessly connecting their one or multiple business tools and banking infrastructure bringing the real-time business health and cash flows situation to the hands of the business owners.

Hylobiz – A distributed Network of Ledgers

Network of Ledgers

To understand this better, let us pick an example – Advait Lifestyle Agency from Kerala which is the regional distributor of Cosmetic products have 12 distributors in every district. The system that they used to maintain data and leads was Microsoft Dynamics. But moving down the supply chain, these 12 distributors for their communication with their retailers and wholesalers may/may not necessarily use Microsoft Dynamics as each tool has its own limitations in terms of permissible workload, available resources, pricing structure, and time liberties.

This multiple system maintenance is another “workload” for a Small Business Enterprise that at each end of the day looks to reconcile its transactions, match the inventory, and raise invoices. Being a Small Business Enterprise what should be his focus? Focussing on sales, business opportunities, employee satisfaction, or record keeping? 

That’s where Hylobiz pitches in! 

One can visualize Hylobiz as Cloud with intelligent nodes connecting different ERP’s easing SME’s pain of record-keeping and offering transparency. 

Is Hylobiz a Blockchain-based solution for SMEs?

While mentioning Hylobiz as a distributed Network of Ledgers one may think of a Blockchain-based solution, but Hylobiz is not blockchain-based. So what’s the difference?

Ours is a distributed storage access that eliminates middlemen that work to process or validate a transaction. So each record created is between the two parties and no intermediaries are involved. 

Hylobiz serves as an “intelligent engine” that talks the language of all ERPs and while being an intelligent translator converts them appropriately and delivers to the destined Small Business Enterprise engine. . So even if a Small Business Enterprise is using Tally, ZOHO, SAP, or Microsoft Dynamics with his chain of distributors and retailers, they can be assured of “real-time digitization, tracking, and reconciliation.

How Distributed Network of Ledgers would help an SME?

STP helps in focussing on growth for the Small and Medium Enterprises?

With Hylobiz intelligent engine, Straight through Processing or STP can be achieved for each payable and receivables. Whether the user entered the record in Tally, our intelligent nodes would identify the corresponding downstream system and make the integration seamless leading a Small Business Enterprise to work on the growth of their business. Worst case, the business downstream can see the digital ledger view for her business over Hylobiz mobile application dashboards and even transact through it

Simple Process for Highly Complex Data

With multiple ERP even though they might be processing the same type of data, the header or field name and format differs. Either the user needs to manually extract those files on .csv/Xls format convert them appropriately and then upload them into another system. But with Hylobiz as integrator users can customize their dashboards and view the analysis in minutes. 

At Hylobiz we indeed want to relieve our SMEs from the pain points, but also ensure the tool helps them to take their business to the next level hence we are committed to coming up with innovative and smart features that empower the lifeline of the global economy. 

SMEs – More power to you!

If you are a business dealing with multiple Accounting Systems or ERP hylobiz can help you. Our seamless integration with Accounting systems, can offer transparency and reduce manual efforts.

Contact us here to schedule a quick demo.

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