Mumbai: In an industry-first integration of accounting and banking, Zoho, India’s leading software products company, is partnering with ICICI Bank, the country’s largest private sector bank by consolidated assets, to deliver a streamlined digital banking experience to customers using Zoho’s cloud accounting software, ‘Zoho Books’.
ICICI Bank current account holders can now securely connect their bank account to Zoho Books which will help businesses eliminate data entry, automate reconciliation, provide multiple payment options to their customers, request working capital loans, and pay suppliers directly from their accounting platform.
This pioneering partnership will allow Micro, Small and Medium Enterprises (MSMEs) in India to experience contextual banking, by connecting their banking and accounting, which was once available only for large companies and corporations with large IT and infrastructure budgets.
Speaking about the partnership, Mr. Anup Bagchi, Executive Director, ICICI Bank said, “ICICI Bank has always pioneered in bringing in digital innovations and provide world-class banking experience to its customers. Keeping this in view, we are delighted to partner with Zoho to bring forth an integrated solution that will offer MSMEs with unparalleled ease of doing business. This integration enables MSMEs to bring in the efficiency of automation by connecting seamless banking transactions and bookkeeping on a single platform. Additionally, it also enables them to keep a track on all their business expenses on a single platform without having to switch multiple applications. This partnership resonates our effort at bringing in path breaking solutions, thereby creating an ecosystem through connected banking. We will continue the model of co-creating to deliver innovative products and services to our customers.”
Also added, Mr. Sridhar Vembu, CEO, Zoho said “Corporate ERP to bank connectivity was a luxury that only big companies used to enjoy. Zoho and ICICI Bank have come together to democratize this technology for all businesses right from a one-person company to larger corporates. This partnership allows businesses to execute bank transactions right where the context is fully present – your accounting system. For example, your accounts payable staff can pay your suppliers right from Zoho Books, where they get to see whom you owe and how much, without switching to your online banking interface. This increases the productivity and also significantly reduces manual errors.”
Benefits of the ICICI Bank-Zoho partnership:
For more details on the integration please visit –
Pricing and availability
The Zoho Books-ICICI Bank integration comes at no additional cost. With ICICI Bank current account and a Zoho Books subscription, priced at Rs 2499/organisation/year (excluding GST), micro, small and medium businesses can now experience the same secure, connected banking as large enterprises. Zoho Books is GST-ready and includes online invoicing, payments, bank reconciliation, inventory management and more. With 40+ built-in reports including trial balance, profit & loss, and balance sheet, and the option to file GST returns, it makes accounting and tax compliance a breeze. For more information on Zoho Books, please visit https://www.zoho.com/in/books
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