Bengaluru (Karnataka) [India], April 6 (ANI/NewsVoir): FloBiz's myBillBook has won the prestigious (https://www.mongodb.com/blog/post/congratulations-2023-apac-innovation-award-winners) MongoDB APAC Innovation Awards 2023 in the category of Digital Native platform. myBillBook is a one-stop solution for the Small and Medium-sized Businesses (SMBs) in India to manage their business operations on the go. It is India's no. 1 GST Billing and Accounting software that helps the business owners with GST billing, POS billing, deliver challan, e Way bills, e-invoicing, and managing their stock & inventory. It also supports MSMEs in customer engagement, staff attendance and payroll management, along with the generation of over 25 business reports for various accounting and decision-making activities.
With more than 6.3 Cr micro, small and medium-sized businesses (MSMEs) in India, many are still using traditional methods such as pen and paper due to the lack of access to digitization and the challenges posed by unreliable internet services. FloBiz is addressing this need with myBillBook, an all-in-one app that enables SMBs to create invoices, manage inventory, automate payment reminders, engage customers, and generate multiple business reports for informed decision-making. The app is mobile-first and can be used in online and offline environments. myBillBook is used by over 70 lakh businesses for features like GST billing, e-Way billing, POS billing, and e-Invoicing. These businesses together generate monthly trade worth INR 12,500 Cr on myBillBook platform.
The MongoDB Innovation Awards recognize individuals and projects that push the boundaries of technology with ambitious goals. The awards celebrate the innovative use of data to create captivating applications and the ingenuity of professionals who are expanding the limits of what's possible with MongoDB. This year, the competition saw a wide range of submissions from various industries, including emerging start-ups that are disrupting the market, and well-established global enterprises that are leading the way with cutting-edge innovations. Other award winners included disruptors from Thailand, China, Hong Kong, Australia, Singapore, and Vietnam in various categories of Positive Impact, Organization Transformation, Heroes in Health, From Batch to Real-time, Industry 4.0, and Customer Focused.
Speaking on the occasion, Rahul Raj, Co-founder of FloBiz said, "The recognition bestowed by MongoDB is an incredible boost to our team's perseverance and efforts to understand the pain-points of SMBs in India, work on them tirelessly, and deliver solutions that support them in their dreams and business growth. We are proud to be a part of the MongoDB community and look forward to continuing to innovate and disrupt the market with myBillBook."
myBillbook is built on (https://www.mongodb.com/atlas) MongoDB Atlas, a developer data platform, that offers businesses a flexible and scalable foundation to develop various features and also perform analytical queries. A key part of the data platform is Atlas Device Sync, as it ensures the myBillbook mobile app continues to work even when internet connection is unreliable, automatically handling networking logic and syncing to the cloud to prevent data loss or downtime due to poor internet connectivity. As a result, over 70 lakh business owners in India (https://www.mongodb.com/customers/mybillbook) have turned to myBillbook to manage billing, accounting, and achieving business growth.
Sachin Chawla, VP India, MongoDB said, "A huge congratulations to the team at Flobiz on this very deserved recognition. The SME economy is the heart and soul of Indian business. But it's vital for those businesses to continue to grow and adapt in the digital world and myBillbook is a great solution to help them do just that. We're very proud that our developer data platform is helping support the initiative as it scales to help millions more Indian business people and their customers."
FloBiz is a fintech startup backed by investors such as Sequoia Capital India, Think Investments, Elevation Capital, Beenext, and Greenoaks Capital. Incepted in 2019, the company raised its last funding of USD 31M in Series B in 2021 with a total funding of USD 44 M so far.
myBillBook has been designed to aid SMB owners to run their operations from anywhere & anytime. It is available on both mobile & desktop and provides a secure platform for business owners to record transactions & track business performance on the go. It is an ideal software for GST registered businesses where invoicing is one of the core business activities. Also, businesses looking to digitise their operations and understand their financial position better can use this software. It helps them create bills (GST & non-GST) and e-Invoices, record purchases & expenses, maintain stock and manage payables/receivables directly from their mobile phones or computers. Also, the app generates 25+ critical business reports that help business owners make effective business decisions. myBillBook is currently available in English, Hindi, Gujarati & Tamil.
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