10 Features of myBillBook That can Boost SMEs' Business

myBillBook, India’s leading GST billing and accounting software for Small and Medium-sized Businesses (SMEs/SMBs), in a mega update, has launched 10 new features on the platform aimed at simplifying business operations for SMEs. These new features are designed to assist SMBs in conducting business more easily and efficiently, providing them with a comprehensive suite of tools to manage their invoicing, accounting, payroll, marketing, customer relation management needs. With these additions, myBillBook is further strengthening its positioning as a one-stop solution for SMBs, leveraging technology to solve critical pain points and enable digitization for businesses in India.

Over the last three years since its launch, myBillBook by FloBiz has already helped over 70 lakh businesses in India grow by enabling digitization of their day-to-day business operations and management from anywhere, anytime. Built from a customer-first approach, myBillBook is available on Android, iOS and desktop and can be accessed both online and offline, making it convenient for businesses to use in any situation. With its advanced core functionalities such as GST/Non-GST billing, e-Way billing, POS billing, and e-Invoicing, small and medium businesses generate trades worth INR 12,500 Cr on myBillBook every month, showcasing its widespread adoption and impact on the SMB community.

The new capabilities introduced by myBillBook are a result of deep consumer research which are in line with the company's objective of "Building For Bharat" or developing technological solutions for the emerging India. These features and modules have been designed to suit Indian SMBs’ persona in a way that they are intuitive to use, yet powerful and cover the wide spectrum of use cases for different industries. These include:

1. WhatsApp Marketing: Users can now promote their businesses through bulk marketing campaigns on WhatsApp and analyze the return on investment (RoI) of these campaigns. The brand-new and easy-to-use templates available on the platform will enable small business owners to announce and publicise various activities such as discounts, promotions, seasonal sales, and festivals.

2. Staff Attendance & Payroll Management: This is a dedicated module which enables business owners to mark the attendance of their employees, add advance payments, and manage staff payroll.

3. Automated Bills: SMBs can now set up recurring invoices for retainer-type services to their clients, thereby eliminating the need for manual invoice creation every month. This saves not just a lot of time for business owners but also removes errors and discrepancies. Users are just required to set services rendered, frequency & reminder schedule and the software takes care of automatically generating & sharing professional invoices to customers and clients.

4. GSTR in JSON: Users can download and email their GSTR1 files in JSON format for easy uploading to the GST portal or sharing with accountants, along with 25 other important reports.

5. Generate E-Way bills on Mobile: This latest feature will provide users the ability to generate e-way bills on mobile phones. This feature has been available on myBillBook’s web app so far but it has recently been integrated into its mobile application as well. This feature makes the bill generation process completely automated, and the user can send error-free e-way bills to the parties of their choice right from their mobile phones.

6. Balance Sheet: With this new capability, SMBs can now generate balance sheets directly on myBillBook and have a comprehensive and consolidated view of their business financials while maintaining compliance of their enterprises.

7. Customer Relationship Management (CRM): Users can set and send service reminders to buyers and sellers, as well as set notifications for upcoming appointments. Features like birthday reminders are also included to enhance customer delight.

8. Loyalty Programs: Business owners can now set up loyalty programs for their customers to support them in retaining customers for a long term by converting loyalty points directly into discounts on future purchases and avoid their customer churn post sales. The exclusive loyalty programs will enhance the relationship of SMBs with existing clients and attract new clients with attractive offers.

9. Multiple Bank Accounts: Users can now manage multiple bank accounts and payment modes, making it easier to reconcile payments received and made from different accounts.

10. Data Export to Tally: Users can seamlessly export all myBillBook data to Tally, a popular accounting software, making it easier to manage their business data and reports.

"Understanding the use cases and solving the pain points of our users through technology-led solutions is core to our philosophy. We're thrilled to launch these new features and capabilities on myBillBook and strongly believe these would prove to be a game-changer for our users. In addition to core functionalities around invoicing, reports, inventory management, payments and accounting, myBillBook now also provides features for customer engagement, marketing, staff management and loyalty. myBillBook is steadily evolving into a one-stop solution and a complete business management software which simplifies operational processes and improves business efficiency on-the-go", said Rahul Raj, CEO & Co-founder, FloBiz.

The new features introduced by myBillBook will help users improve their customer experience through streamlined CRM, service reminders, and WhatsApp Marketing. The addition of features for managing staff attendance and payroll, as well as advancements in accounting features such as providing balance sheets and GSTR in JSON format, will contribute to the acceleration of digitization for SMBs in building robust mobile-first solutions and addressing the pressing problems of the Indian SMB sector, in line with the vision of building an Aatmanirbhar Bharat.