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Making cash flows easy

CashPundit aims at automating cash flow statements for companies

A year ago, chartered accountant Govindraj Muthyalu was in charge of the finance operations of a firm in Dubai. He discovered that most of the cash flow-related operations, the life blood of any company, were conducted manually, with executives manually updating records. Muthyalu began to look for tech solutions to automate this process. That was the idea that resulted in CashPundit, a firm that lets companies sync with accounting/ERP software and fetches the required data directly without having to manually enter or upload the data.

Muthyalu says, “The manual entry of data was time-consuming and also resulted in multiple delays. I got together with a few friends with a background in IT to set up the software for CashPundit. It identifies a potential shortfall in cash balances in advance so that businesses can take necessary action to avoid cash flow problems. You can get all the information about the finances with just a click. We are one of the first companies in this space in India.”

He adds, “It also generates detailed projected cash flow statements on a daily, weekly and monthly basis, provides reminders to follow up overdue invoices and sends automatic email reminders before and after the due date, until the invoices are paid. Presently, we are in the B2B space.”

The firm also launched an app last year. Muthyalu says, “Our app helps top management monitor receivables and sales versus targets and have cash inflows and outflows based on promised dates. It allows the collections team to drill down receivables from region to state to salesperson to customers to invoices, and call the customer directly from their smartphones, review previous communication, and record the promised date and remarks on their smartphones. They can get even reminders to follow-up with their customers on the promised dates on their smartphones.”

He says the response they’ve got to this ‘smart accounting’ system has been positive and the sector will only grow in the years to come. The company has also tied up with major players like Sage.

It identifies a potential shortfall in cash balances in advance so that businesses can take necessary action

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