Frozen Bottle’s Journey to 36L Annual Savings on Business Expenses with OmniCard
12-Jan-25About Frozen Bottle
Founded in 2017, Frozen Bottle seamlessly blends India's vibrant dessert culture with a touch of global sophistication. This commitment to quality and creativity has established Frozen Bottle as a favorite among dessert lovers.
Recognized as one of India's trendiest dessert brands, it has grown from its origins in Bengaluru to a presence in over 32 cities with an impressive 180+ outlets. Committed to expanding its footprint, Frozen Bottle is on an ambitious journey to redefine Indian dessert indulgence with every scoop and sip.
Challenges Before OmniCard
KYC and Documentation Issues
Employees from blue-collar and grassroots levels often lacked formal documentation, making traditional KYC processes cumbersome and prone to delays. This was a significant barrier to onboarding and operations.
Regulatory Complications
The organization previously used Happay for Expense Management but had to stop due to RBI regulatory challenges, leaving them without a reliable solution.
Audit Challenges
A lack of clarity in organizational expense approvals created difficulties during audits, impacting accountability and compliance.
Expense Oversight and Dummy Expenses
The organization struggled with tracking local purchases such as groceries and small office supplies. Dummy expenses often went unnoticed, resulting in financial leakages and inefficiencies.
The OmniCard Solution
How did OmniCard Rank?
- Eliminating Dummy Expenses: The organization reported monthly savings of INR 2.5–3 lakhs by eliminating unnecessary dummy expenses.
- Controlled Financial Outflow: Monthly expense outflow reduced from INR 20 lakhs to INR 16.5–17 lakhs, signifying a cost reduction of approximately 15%.
- Streamlined Local Purchases: Purchases like fruits and groceries were migrated to trusted platforms such as Blinkit and Zepto, bringing transparency and control to petty cash spending.
Simplified and Reliable KYC
OmniCard resolved one of the organization's biggest pain points by implementing an easy and reliable KYC process. This solution enabled seamless onboarding of employees with minimal documentation, especially for blue-collar workers, ensuring compliance without operational delays.
User-Friendly Technology and Reliable Support
- The OmniCard platform’s intuitive interface made adoption seamless for all employees, regardless of their technical proficiency.
- Quick Response Time: Support queries were addressed in under 30 minutes, even on off days, ensuring operational continuity and building trust.
Addressing UPI Challenges
While UPI failures remain a nationwide issue, OmniCard mitigated the impact through automatic refunds. This provided the organization with peace of mind and ensured smooth financial operations.
Customization and Scalability
- The inclusion of BBPS (Bharat Bill Payment System) will add significant value, simplifying utility and bill payments.
- Future plans to integrate OmniCard with accounting software promise to further automate and streamline financial processes.
Comprehensive Organizational Oversight
- By introducing clear expense approval workflows, OmniCard helped resolve audit-related challenges.
- The organizational hierarchy was reflected in the approval system, ensuring transparency and accountability at all levels.
Sales and Customer Support Excellence
OmniCard’s persistent marketing efforts, proactive sales approach, and exceptional customer support played a pivotal role in winning the client’s trust. The KAM (Key Account Management) team’s reliability ensured a smooth transition and consistently high service standards.
How OmniCard Was Chosen
Discovery
- OmniCard came to the client’s attention through consistent marketing efforts, including emails and nudges.
- Many were pitching similar solutions, but OmniCard stood out due to its customer-centric approach and support.
Sales and Support
- The sales team’s helpful and approachable nature played a crucial role in the client’s decision.
- The KAM team continues to deliver outstanding support, enhancing the overall experience.
Results and Impact
Financial & Operational Benefits
- Reduced monthly outflow by 15%, saving approximately INR 2.5–3 lakhs on average.
- Simplified approvals and clear expense tracking significantly reduced audit complexities.
- Automation of refunds and streamlined daily local purchases improved overall financial management.
Employee Satisfaction & Adaptation
- The simplified KYC process enabled the organization to onboard employees with minimal hassle, enhancing employee satisfaction.
- The intuitive platform ensured widespread adoption, even among non-technical staff
Future Expectations
Integration with Accounting Software: The client expressed interest in integrating OmniCard with their accounting systems to further simplify and automate financial workflows.
Employee Location Tracking: Real-time location tracking for employees is a desired feature for improved operational oversight.
Conclusion
OmniCard has proven to be a game-changer for the organization, addressing their most pressing challenges, including KYC difficulties, dummy expenses, and audit compliance.
With its intuitive platform, reliable support, and focus on transparency, OmniCard has helped the organization save costs, streamline operations, and improve overall financial management.
By continuing to enhance its product offerings and integrating advanced features, OmniCard is positioned to remain the organization’s trusted partner in Expense Management for years to come.
Explore OmniCard
OmniCard offers India's 1st Corporate Card with UPI Payments. Now make your Business Spending smarter, more efficient and easier with OmniCard Expense Management Solutions.
