In this era of rapid digital transformation, India is on the brink of a remarkable economic leap. The country’s retail sector is anticipated to reach a staggering USD 2 trillion in value by 2032, while the number of startups is projected to double to 240,000 by 2030. However, there is a significant challenge lurking beneath these promising forecasts.
Currently, out of 64 million businesses in India, a mere 4 million are digitized. This leaves a staggering 60 million enterprises without even basic digital tools. Many Indian businesses face financial losses, not due to fraud or theft, but rather because of inefficient systems. This is where OmniCard comes into the spotlight.
OmniCard is not just another fintech company; it is forging a digital path towards efficiency. Its user-friendly platform is designed to facilitate seamless adoption across various layers of business, from retail shops to corporate offices, spanning tier-1 cities to tier-3 towns. More than 500 forward-thinking enterprises trust OmniCard to manage and optimize their business expenses.
OmniCard stands out by being an AI-powered Fintech operating system specifically designed for business spending. It plays a crucial role at every level of the value chain — from expense management and petty cash to travel and rewards. This thorough visibility into last-mile payment processes is essential in today’s fast-paced business landscape.
What truly sets OmniCard apart is its independence from traditional banks. It operates with a prepaid payment instrument (PPI) license issued by the Reserve Bank of India (RBI), complying with the highest regulatory standards while providing its customers with valuable services. By connecting every touchpoint in the spending journey, OmniCard redefines how enterprises handle their finances with intelligence and efficiency.
The success stories coming out of businesses leveraging OmniCard are impressive. Take PUMA, for instance. The German sportswear giant is efficiently managing its extensive retail network in India by using OmniCard. Siddarth Asrani, the CFO at PUMA India, highlights how the platform has revolutionized their approach to expense management. No longer are they stuck juggling multiple tools and constant follow-ups. Now, store teams have controlled budgets, and the headquarters enjoys real-time visibility.
Similar sentiments are echoed by Ashutosh Mishra, the Senior Vice President of Finance at Policybazaar. Previously, consolidating multiple categories of spending was a tedious task for this high-growth digital organization. With OmniCard, they now experience centralized visibility and control across departments, which helps them stay ahead of spending trends rather than merely reacting to them.
The impact of OmniCard is evident in other organizations as well. Gagan Garg, the Finance Controller at Ferns N Petals, India’s largest gifting and corporate retail brand, praises the end-to-end solution that OmniCard offers. Managing retail expenses and company costs has become significantly streamlined. The platform allows them to assign budgets to teams, enable UPI payments, issue cards instantly, and track spending in real time. For a business of their scale, this control, combined with reduced administrative burden, is a win.
Abhishek Saxena from OmniCard rightly observes that the economic future of India doesn’t just hinge on scale. It also depends on how efficiently these businesses operate. OmniCard is driving innovation in business payments, providing a platform tailored for expense management needs. Their mission? To be synonymous with B2B fintech solutions in India. When businesses think about fintech, they should think of OmniCard.
India’s growth narrative is indeed gaining traction. However, achieving true progress requires intelligent systems, and that is where OmniCard’s AI-powered fintech operating system shines. It is designed to cater to businesses of all sizes, adapting flexibly to unique needs, scale, and workflows.
From startups managing team expenses to larger enterprises optimizing multi-location spending, OmniCard provides the necessary tools with the engagement of AI intelligence to enhance financial operations from end to end. As India marches towards its ambitious goal of a $5 trillion economy, fintech platforms like OmniCard will be pivotal in shaping how the nation’s enterprises manage their finances.
In a competitive landscape, embracing such innovative solutions is more important than ever for businesses ready to evolve and succeed in the digital age. OmniCard stands as a beacon of efficiency, a vital partner for companies navigating the complexities of business spending in India’s vibrant economy.