AlignBooks unifies accounting and banking for MSME

AlignBooks and ICICI Bank tie-up

New Delhi: AlignBooks, a cloud-based accounting software firm has partnered with ICICI Bank for MSME users. The partnership aims to deliver a streamlined digital banking experience to its Micro, Small and Medium Enterprise (MSME) customers.

With this tie-up, ICICI Bank’s current account holders can now securely connect their bank account to AlignBooks software. For users who do not have an ICICI Bank current account, can conveniently apply for one from within AlignBooks.

By linking their bank account to the software, users have the flexibility to automate reconciliation, provide multiple payment options to their customers. And do accounting while ‘on the move’ and access to their books of accounts anytime, anywhere.

This tie-up offers enhanced convenience of accessing their bank accounts off-line. In case they do not have internet connectivity, which gets synchronised automatically upon connecting to the internet.

With this, MSMEs no longer have to toggle between a banking platform and an ERP software to undertake their business transactions.

By connecting banking and accounting, MSME customers can experience contextual banking, which was once available only to big companies with large IT setup and infrastructure budgets.

“It has been an honor for AlignBooks to join hands with ICICI Bank, one of the prime banks in the country towards a beneficial cause of MSMEs, Startups & Fintechs, giving a seamless experience of auto banking through its very differentiated accounting solution,” said Anand Jajodia, Co-founder & CEO – AlignBooks.

“AlignBooks is committed to customers with impeccable service and continually with value add services,” added Jajodia.

“We believe that ‘ease of doing business’, ‘digitisation’ and synergy with technology partners are key growth enablers for the MSME businesses,” said Pankaj Gadgil, Head – Self Employed Segment, ICICI Bank.

“This partnership is yet another step in our constant endeavour of promoting the concept of ‘connected banking’ to enable MSMEs and entrepreneurs to perform various banking functions like raising invoices, making payments and reconciliation on a common platform,” added Gadgil.

Benefits of the AlignBooks – ICICI Bank partnership:

· Managing payables: With this integration, AlignBooks customers can keep a track of the due dates of their payables and make payment to their vendors directly from AlignBooks desktop / mobile app. They can make part/full, single or bulk payments.
· Bank reconciliation: AlignBooks customers will be able to reconcile their bank accounts simply by uploading their bank statement of accounts, in any format and further automate transactions without creating or posting vouchers manually.

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