Zoho is targeting an expansion of its operations in India and has tied up with ICICI Bank for offering new-age banking solutions via the cloud accounting software Zoho Books. Digital platforms have made contextual banking a huge opportunity for Indian financial institutions in recent times.
Zoho has partnered with a leading corporate entity for the very first time. The integration will be based on the cloud with the use of APIs. Bank and ERP integration was a supreme luxury earlier which only big organizations would leverage. This is a joint initiative for making this technology available for all organizations with the focus on democratization of the benefits for everyone. The integration will be coming with multifarious benefits for common users of ICICI Bank and Zoho Books right from reconciliation automation, collections and numerous payment options for customers, vendor payments and also requests to obtain working capital loans.
These functions were all possible through the Zoho Books application. Data entry and other manual mistakes can easily be removed by users. The integration function will offer visibility in real-time and decisions will be made more swiftly since users do not have to switch between several interfaces. The integration has been executed in tandem with all necessary security infrastructure. For current customers there are no added charges for integration. The subscription for Zoho Books comes at Rs. 2, 499 annually for every organization.