Following the success of its GST Billing & Accounting Software myBillBook, the Bengaluru based fintech FloBiz today has announced the launch of its Point-of-Sale Billing solution for retailers and franchises. The retail industry accounts for 10% of Indias GDP. Keeping the scale and the specific needs of this industry in mind, the solution has been designed to provide a faster billing experience using keyboard shortcuts and barcode scanning. POS Billing will be available to all myBillBook users within its desktop application with a free 14 days trial period. myBillBook has also introduced marketing capabilities for businesses to promote their products & offerings with bulk promotional SMS, making it a one-stop solution for invoicing, inventory management, payment collection, business reporting and CRM for the entire SMB sector.POS BillingKey highlights of myBillBook POS Billing:Faster billing using keyboard shortcuts for searching & adding items, adding customer details, saving & printing invoicesSimple to use billing interface which requires no formal training for salespersonsCreating and editing multiple bills at the same timeBarcode scanning, new barcode generation and printing which supports a variety of printers & configurationsAutomated inventory management directly from billing activitiesBusiness reporting across 20+ PDF & Excel reportsSupport for sending customised bulk promotional SMS to customersAffordable pricing compared to traditional solutions in the marketWith all these industry-first features, myBillBook aims to simplify the problems that retail businesses face on a daily basis such as slower billing software, manual stock tracking, managing multiple outlets, etc. and provide an affordable POS billing solution.Talking about the development FloBiz Founder & CTO, Rakesh Yadav, said, “We are very excited about the launch of POS Billing to extend the offerings of our flagship product myBillBook. We have always worked with a customer-first approach to bring technological solutions at an affordable price to digitise and streamline the day-to-day operations of SMBs. With POS Billing, retailers and franchises will now be able to reduce time, improve efficiency and experience a seamless way of billing & inventory management at storefronts. We will continue to develop more features and products to enhance digital capabilities which can help businesses in their growth journeys.”Sushmita Rawat, Director of Products, FloBiz said, “While our myBillBook app works delightfully for a variety of businesses, there were continuous requests for POS Billing from retail businesses which paved the way for its development. We conducted extensive research across several categories like FMCG, grocery, F&B and fashion and discovered that saving time at counters during checkout requires a quick, seamless and robust solution that can be plug-and-play, with practically no need of training. From scanning items, generating invoices and maintaining inventory to business reporting and staff management, myBillBook POS Billing has been meticulously designed to cater to all the pressing needs of Indian retailers & franchise businesses.””myBillBook POS is just the right billing software for my grocery business. Its really fast and its so easy to use that my staff learned to use it within a few minutes. The support for unlimited barcode generation and printing of barcodes & invoices is really the best part about myBillBook POS. Im saving time while handling a rush of customers. I recommend all retailers in India to use myBillBook POS,” said Mahadev Jadhav, Owner of Ewish India Pvt. Ltd., who runs a grocery delivery business in Bangalore.Launched in January 2020, myBillBook is India’s leading GST Billing & Accounting Software available on both Android & Desktop. It helps SMBs record sales, purchases and expenses which automates inventory maintenance, receivable/ payable tracking and business reporting. It has grown rapidly to the scale of over 12 lakh monthly active businesses that record trades worth INR 8000 Cr every month.About myBillBookmyBillBook has been designed to aid SMB business 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 to understand their financial position better can use this product. It helps them create bills (GST & non-GST), record purchases & expenses, maintain stock and manage payables/ receivables directly from their mobile phones or computers. Also, the app generates 20+ critical business reports that help owners make effective business decisions. myBillBook is currently available in English, Hindi, Gujarati & Tamil. It has been downloaded by 6 Mn+ businesses and enjoys the trust and confidence of more than 1.2 Mn monthly users who generate trade worth Rs. 8000 Cr every month.About FloBizFloBiz is a neobank for small & medium businesses that aims to accelerate the growth of their enterprises through technology. Founded in 2019 by IIT & BITS alumni, FloBiz is a fintech backed by renowned investors like Sequoia Capital India, Elevation Capital, Greenoaks Capital, Beenext and Think Investments. The startup is chasing the mission of digitisation to contribute to the building of an Aatmnirbhar Bharat by solving the most pressing problems of the Indian SMB sector. FloBiz launched its flagship product, myBillBook, in early 2020, and it has become one of the highest rated business apps in India on the Google Play Store.
The benchmark Indices Nifty started on the positive side after continuous sell off in last week and has managed to settle at 15842.30 with 60 point gain or 0.38 percent. However Nifty has failed to regain 16000 levels prior to LIC listing.
While Bank nifty has managed to settle at 33597.60 levels after gaining 1.44 percent. On the sectoral front, Nifty PSU Bank, Nifty Realty and Auto have contributed 2-3 percent gain on closing basis. On the flip side Nifty IT and FMCG ended with losses of 0.75 percent and 0.35 respectively. In Nifty, EICHERMOT, APOLLOHOSP and UPL were the top gainers while ULTRACEMCO, SHREECEM and ASIANPAINT were the prime laggards.
Technically, after forming the bearish candle on the weekly chart, the index has formed a Doji candlestick on the daily chart which shows indecisiveness among the trades. Moreover, the index has also faced a resistance from falling trend lines and showed profit booking from higher levels. However, Fibonacci retrenchment also has support around 15650 levels.
Traders may find buying opportunities for short term as if 15650 levels is protected. In the hourly chart, with support of the middle Bollinger band short term upside movement is expected. Stock specific action would drive the market in coming days too.
On the derivatives front, the highest call OI is at 16000 strike price followed by 16200 strike prices while on the put side, highest OI is at 15500 strike price. INDIA VIX closed at 24.53 with gain of 4.43 percent intraday indicating volatility is going to remain till weekly expiry . On the other hand, Bank nifty has support at 32600 levels while resistance is placed at 34500 levels.
Source: Choice India