FloBiz, a technology-driven firm founded in 2019 by Rahul Raj, Aditya Naik, and Rakesh Yadav, is empowering small and medium-sized businesses (SMBs) in India with complete digital solutions through its flagship brand, myBillBook. The platform offers various features for digital invoicing, inventory management, payment reminders, bookkeeping, accounting, and reports for customer marketing and business growth. It has been trusted by more than 6.5 million users generating a monthly trade worth INR 12,500 crores on the platform. The company has a team of over 600 members and has matured into various business functions, including sales, marketing, growth, HR, finance, engineering, product, admin, retention, customer success, and the founder’s office.
FloBiz’s Journey and Focus
FloBiz’s journey began with extensive research that involved engaging with more than a thousand business owners, several financial institutions, and tax experts, and analyzing multiple industry reports. The empathy developed during this phase remains the cornerstone of their business. The company has a strong focus on scaling up its business efficiently and ensuring optimal utilization of its resources. Their culture emphasizes strategically planned and positive ROI-driven growth, with a robust framework of experiments, measurements, and processes supporting every action.
Building for Bharat: Challenges Faced by SMBs in Tier-2 and Tier-3 Cities
India has over 63 million MSMEs, of which 80% still use traditional methods like pen and paper for billing, accounting, and bookkeeping due to the lack of digitization and unreliable network connectivity. FloBiz addresses this need through myBillBook, a complete business management solution that enables SMBs to create invoices, manage inventory, engage customers, and generate business reports. The biggest challenge faced by SMBs in Tier-2 and Tier-3 towns is the lack of digitization, despite inflation, supply chain management, procurement, and demand challenges. There is low awareness and adoption of digital techniques to manage business operations due to fear of data privacy, technology complexity, overwhelm, and resistance towards changing traditional methods.
Offerings and USPs of myBillBook
myBillBook is a complete business management solution that offers digital invoicing, inventory management, accounting, reports, online store creation, marketing, payment reminders, staff attendance and payroll, thermal printing, and many more features. The platform is available on iOS, Android, web, and desktop, with different subscription plans based on industry and business use cases. The app is user-friendly, with easy-to-use features and 24×7 support available in multiple languages. FloBiz also provides demo and feature videos on YouTube to educate users on using myBillBook efficiently and engages with them through a telegram community and other social media channels.
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