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BW Businessworld

Transforming Business Expense Management

Empowering businesses with end-to-end spend management solutions and unparalleled innovation

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Zaggle, a leading payment solution provider, has been making waves in the fintech industry with its innovative and comprehensive approach to business expense management. Recognised as the "Best Payment Solution" at the Festival of Fintech 2023, hosted by BW Businessworld, Zaggle has positioned itself as a trailblazer in the realm of spend management.

The beginning

Established 11 years ago, Zaggle initially ventured into the space of gifting, digitising the process and introducing gamification elements. As their customer base grew, corporates approached them with requests to digitise other areas, such as flexi components and expense management. This demand led to the development of additional products like Save, a solution to digitise employee benefits, and EMS (Expense Management Solution) to address corporate expenditure. The company further expanded into accounts payable with their product Zoyer, providing an end-to-end solution for spend management.

The differentiating factor

What sets Zaggle apart from other players in the industry is their holistic approach. While many companies offer piecemeal solutions, Zaggle provides a comprehensive suite of services, encompassing employee requirements, company needs, and supplier interactions. Their platform seamlessly integrates with HRMS, accounting software, and ERPs, offering a unified experience. Additionally, Zaggle offers software and embedded cards, enabling transactions, workflows, and integrations within a single platform.

One of Zaggle's strengths lies in its diversified product portfolio, reducing dependence on a single offering. With multiple products catering to different aspects of spend management, including employee benefits, gifting, expense management, and accounts payable, Zaggle ensures a robust and flexible solution for its clients. Furthermore, the company's strong regulatory practice, GDPR compliance, and various certifications have earned them the trust of both customers and banking partners.

Understanding Needs

Zaggle's success stems from their ability to understand and address the specific needs of their clients. Corporates often approached Zaggle with challenges related to paper-based expense filing and benefit disbursement processes. Leveraging their deep industry knowledge and customer relationships, Zaggle worked closely with these companies to build tailored solutions. The introduction of Save and EMS were direct outcomes of such collaborations, enabling improved efficiency, productivity, and cost savings for businesses.

When it comes to customer segmentation, Zaggle caters to both mid-market and enterprise clients. For enterprise accounts, they provide customised solutions based on the unique requirements of each organisation. The platform allows extensive configuration, accommodating 75 per cent of use cases, while the remaining 25 per cent can be customised to meet specific needs. For SMEs, Zaggle offers a DIY module, empowering smaller corporates to onboard and use the service independently.

Getting the Word Out

Zaggle's commitment to marketing and brand awareness has been a key driver of their growth. With a strong focus on digital marketing and social media campaigns, they ensure their target audience is well-informed about their offerings. The recent launch of their DIY expense management platform, XPNS, has further enhanced their marketing lead product, attracting more customers and expanding their reach.

Eyes on the Future

In the era of remote work and digital transformation, Zaggle has seamlessly adapted to support businesses in managing expenses for distributed teams. Their mobile-first approach and digital onboarding processes make location irrelevant. With a mobile app that allows expense filing, approval, and tracking, Zaggle empowers employees to manage expenses anytime, anywhere. The company's commitment to digitisation and remote functionality positions them as a trusted partner for businesses navigating the evolving work landscape.

Looking ahead, Zaggle has exciting plans for the future. Their recent IPO filing has further solidified their position as a trustworthy brand. They aim to consolidate their presence in the Indian market and continue expanding their customer base across different sectors. Zaggle's relentless focus on innovation has led to the introduction of new products and use cases, such as Zakey, a contactless payment device, and the integration of credit cards to meet customers' credit needs. They also envision entering international markets as the next logical step in their growth journey.

Zaggle's journey as a pioneer in spend management has been characterised by its unwavering commitment to excellence and customer-centric approach. With a strong leadership team and a workforce driven by domain expertise, the company has solidified its position as a market leader. As they continue to innovate, expand their offerings, and forge strategic partnerships, Zaggle is poised to reshape the landscape of business expense management, providing businesses with the tools they need to thrive in a rapidly evolving digital world.


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magazine 29 July 2023