FAQ

Frequently Asked Questions
GENERAL

1. What is Hylobiz?

We are a business distribution value chain digitization platform addressing the key challenges for different businesses like Brands, Manufacturers, Distributors, Traders, Dealers and Retailers for their receivables, payables, and potential to credit access. In a nutshell, we address payables, receivables, and banking on HYLO through the Connected Banking platform.
Our rich features like Seamless Seamless ERP/Business tools integration, Digital Payment Collection, Quick Settlement, Automatic Reminders, and Reconciliation allows businesses to avail different services through single window.

Hylobiz Neobanking Platform enables the banking market place for businesses to avail services like Insurance, Loans, Bill-Discounting, utility Payouts, Taxes, and Payments, that are built over Open Banking APIs through direct partnerships with banks.

Knowing very well the needs of the businesses, Hylobiz has integrated the top-used ERP in its target markets, built an API-Sandbox for the Bigger Businesses, and have provided for functional use cases like PI, PO, Inventory, Invoicing etc. along with the Connected Banking Services.

2. Which countries can the businesses avail the hylobiz services?

Hylobiz is a Businesses-centric Fintech platform with active operations in India (HQ), UAE, and Bahrain.

3. What size of businesses does hylobiz is most relevant for?

Hylobiz offers targeted services for Professionals / Freelancers, Small & Medium Size Businesses, and Big Corporate / Enterprises. It can serve all the businesses
• That process at least 100 plus transactions/month in terms of receivables or payables
• Engagement for the business owner and their customer is via manual reminders and calls

4. Can bigger enterprises or corporates get this automation benefits with hylobiz?

Hylobiz platform benefits can be reaped by businesses of all sizes. The bigger enterprise and corporates can integrate with the micro-services APIs extended by hylobiz, without getting into the hassle of adopting a new process/interface. We ensure that the enterprise’s collections | payables are fully digitized with seamless integration into the ERPs & banking ecosystem.

5. Can freelancers/professionals / solopreneurs automate their receivables or payables too?

Yes. For the freelancers and small businesses too, hylobiz absolutely relevant and extends additional value add services like branded invoice creation, proforma invoice, managing inventories in a smart way with auto-threshold trigger, and purchase orders. Similarly for service professionals the capability of repeat invoices, auto-reminders and reconciliations serve the core needs of the smaller businesses.

6. Can you please provide me a demo? I am looking for a demo of your services

You can look for our video tutorial here or provide your details here for us to get back and schedule a demo with you.

7. How many users are allowed to use the Hylobiz platform?

You can have as many users as you want for your organization as per the SaaS pricing model and package available here (https://hylo.biz/pricing/), which is applicable per user fee per month.

8. Whats the settlement cycle duration?

For India the settlement cycle is T+1 and for UAE is T+3 days as of today and we are constantly working towards making it a real-time basis.

9. What all is required for KYC?

For the business name mapping with the banking details, we are required to do the KYC for the businesses to ensure the correct and timely settlement of money.
For India, you can provide
• bank statement or canceled check
• Company PAN Card ( if company pan card is not there then )
o Company GST certificate
o Certificate of incorporation
And for UAE
• Bank statement or canceled check
• Emirates ID number with the expiry date
• Emirates ID documents front and back copy Company TL number with the expiry date
• TRN Certificate

10. Why do I need to perform KYC validation?

As per RBI regulation in India and Central Bank of the UAE Banks need to know the identity of the customer to prevent criminal activities or cyber frauds.

Registration/Open a New Account

1. How can I open a new account?

You can Register/Signup on the Hylobiz website with details. Put in your KYC details, get it verified from our team and you are set to accept payments and grow your business.

2. What are the prerequisites for signing up?

There is no prerequisite, just that you would need KYC validation,hence keep documents handy for quick verification.

3. How long does it take for KYC validation?

The SLA of KYC validation is T+1 days for both India and UAE, and we are working towards the approval process to be completed the same-day through our automation platforms.

4. Can I edit my business information?

Yes, you can go to Business Settings -> Edit Business Information and can edit bank details, KYC details, and company details

5. Can I edit my personal information?

Yes, you can go to Business Settings -> Edit User Information and can edit Name, email address, and upload/change the profile photo.

6. I wish to enable WhatsApp notification’s how can I do that?

Yes, you can go to Business Settings ->Whatsapp Notifications and select ON to get WhatsApp messages.

7. Can I add my team members?

Yes, you can go to Business Settings ->Team and add team members, provide access to the modules you want them to view and also make changes to existing listing.

8. How can I change my password?

Yes, you can go to Business Settings ->Change password to make changes to the existing password.

Receivables

1. How to Collect Payments?

Collection of Payments can be done in two ways
• Single Transaction – Fill in the form with details like Reference Number, Transaction Amount, Mobile Number, email address, Full name, Due date, upload supporting documents, add in a note and click on Initiate Collections. You can additionally click on “Attach a secure Payment Link with this transaction” so that the user can click on the link and pay.
• For Bulk Transactions – First, you can go to Business Settings -> File Formats and Configure File wherein based on the input fields like S.No from your excel can be mapped o Reference # on Hylobiz system. To perform that mapping and save it with a relatable name.
And then you can go to Receivables ->For Bulk Transactions, Select the File format you saved and upload the transaction file, make sure to enable “Attach a secure Payment Link with this transaction” so that the user can click on the link and pay.
And once the file is uploaded, check for details and if all correct Initiate collection’s

2. How can I create an invoice?

You can go to Dashboard ->Create Invoice, fill in the details and click on Take Action-> Save and Send. It would send an invoice to the field selected under Send to Contact with a Payment link [ if you have enabled Attach a secure Payment Link with this transaction].

3. Can I create an invoice as Draft and send it later?

You can go to Dashboard ->Create Invoice, fill in the details and click on Take Action->Save as Draft. The Draft invoice could be seen under Receivables tab.

4. How can I add charges, tax details, or discounts to my invoice?

You can go to Business Settings ->Taxes, Discounts, and Other Charges and add the required taxes, discounts or charges you want to add to your receivables or invoices. The predefined Taxes, Discount then would appear on Create Invoice screen under Description field, you can select and add it to the invoice.

Payables

1. How can I create a Purchase Order?

Go to the Purchase Order tab on the left-hand side and click on Create New Order, fill in the details and click on Take Action -> Save & Send.

2. Are there any prerequisites to create a Purchase Order?

No, there are no prerequisites but, KYC validation needs to be successful to create or upload a Purchase Order.

Stock House

1. What is the Stock House?

Stock House is an inventory management solution, where you can manage all your stock items smartly. For businesses offering products can use it to manage items and for businesses offering services can add their services. While you see the status through regular dashboards, the solution helps you to even list your items in Public and Private Modes.

2. How can I add items to the Stock House?

You can go to the Stock House Tab on the left-hand side and then click on Add New. You will get two tabs – For Items and For Services, depending upon the business you own select the tab, fill in the required fields and click on Create.

3. Can I do bulk upload in Stock House?

The bulk upload feature is due for the upcoming release and will be available on platform soon.

4. What does it mean by Public Items and Private items?

If any item in the Stock House is Public and you have created your distribution network on Hylobiz then your distributors can access your stock house to raise a Purchase Order. This helps you keeping control of your pricings even at a secondary sales level.

5. Can I set a reminder for low stock items?

There is a threshold configuration for the stock for auto-trigger and reminders for Purchase orders to initiate the refilling of the stock.

6. How can I search for a particular stock item in the Stock house?

On Stock House screen you can use Search filters, fill in the fields for the item/services you are looking and click on Apply. The data based on your search if present would appear on screen in tabular form.

Hylobiz Ledger

1. What is Hylobiz Ledger or Digital Ledger?

Hylobiz ledger is the most popular and beneficial feature for the seller-buyer transparency representing the account statement, with all the details and list of invoices and their respective payment status. With this feature at any point, the seller-buyer has the same view of the account statement for the business between them.

2. How can I add the contact to ledger?

Select Hylobiz Ledger from left-hand side or from Dashboard and click on Add Contact, now you can add contacts in two ways
• Add Single Contact – A new screen with three tabs would open up, asking for Contact information, Business address, and Additional Information. Fill in the details and click on Save. You contact would be saved
• Add multiple Contacts – A new screen would appear showing an option to Download the sample file and upload a file. If you are doing multiple contact upload for the first time, download the sample file and as per the field provided in the sample, edit the information in your file. Make sure to put a valid entry to Mobile number, GST number, or Pan number. Then save this file and upload the file using Upload button. Once uploaded, the contact would appear on the screen in tabular form. In case any field is not valid it would show as “invalid format”. Make sure to correct the file and then try the upload again.

3. Can I link my email to add contacts to the Hylobiz Ledger?

Not yet, as adding a contact on hylobiz need many other details then basic email id. But stay tuned we can surely get it in the future.

Reports

1. What reports can be generated?

Hylobiz provided all businesses with
• Reconciliation report
• Bulk Invoice Status Report
• Transaction History report

2. Can the report be exported?

Yes, reports can be exported in CSV format.
You can go to desired report under Reports tab and apply filters, by default it shows all the reports and click on Export to Xls. The report would be saved on your computer.

3. Can I share reports with my team?

Once the reports are exported, you can share the reports with your teams. Alternatively, if your team member is added to the Hylobiz system, you can provide him access to view the reports.

Integration

1. What all third party apps I can integrate with Hylobiz?

As on date, hylobiz has integrations with Quickbooks, Zoho, Tally, Coral, Botree, ERPNext and they are getting released now. While there are more to come with Xero, Sage, Microsoft Dynamics, Oracle ERPs, Optimum and regional ERPs based on country after country rollout. Please share your feedback on a specific ERP if you would like us to integrate for your markets!

Subscription/Pricing

1. What is the pricing model?

It’s a SaaS-based model with a one-time setup fee and monthly fee.You can access our Pricing Page here.

2. What banks have you partnered with?

We have partnered with leading banks of India like ICICI Bank, Yes Bank, HDFC Bank, Kotak Mahindra, RBL Bank, and many more.

Free Trial

1. What are the conditions to access a free trial?

You are free to use the hylobiz zero package, which has a limit of 100 transactions per month with no SaaS monthly fee. Only the transactional fees would be applicable.

Deactivate/Close Account

1. How can I close my account?

You can submit a request on our support email [support@hylo.biz] to deactivate/close your account and our admin teams will take it up with you to close it.

Careers

1. Do you have openings?

For current open positions, you can visit our career page. For future requirements you can follow us on our social media channels. We post our job requirements frequently and you could be notified of the same.

Have more questions ?