The Indian trucking industry is heavily dominated by physical currency transactions. The transporters deal in cash payments and cheques and accordingly, the broker pays his driver in cash. Established methods of transactions require a lot of paperwork and tracking. The necessity of human interaction limits the business scope geographically and brings in trust and security issues as well. It also creates a mental barrier towards free transaction with all the suppliers/drivers, owing to uncertainty regarding any kind of fraud dealing. As a result, the customer/partner base gets restricted, adding to the woes of this fragmented industry.
VYOM is trying to plug these loopholes by making the processes digital. Paperless transaction is set to change how the industry works, making processes easy and convenient. Foremost, thorough KYC check and field verification are done for all the suppliers. So, the possibility of fraud dealings is eliminated. The physical limitations of going over and handing over cash/cheque are done away with the digital ways of managing outflows. The online method allows users to transact anytime, at any place.
The break-up of advance and balance payment for a trip is readily available for viewing. The supplier is eligible to receive the advance payment as soon as the truck details are shared over our App. Both the advance and balance payments can be made through our platform. Hence, the transporter can do away with saving multiple account numbers for dealing with different suppliers. Payments for multiple loads can be done in a single go. The entire process takes just a few clicks to complete.
With our digital revolution of payment methods, easy tracing is facilitated. The wallet statement and the payment histories are available in the app itself, arranged in a clear and stage-wise manner. SMS and in-app notifications are also sent to the transporter/supplier informing them of the payment statuses. Invoices can be generated and downloaded or shared over email for future reference.
App wallet for the transporters can be recharged with minimum effort- through NEFT or other modes of payment. In case the transporter does not have enough money in his wallet, he can set a financer contact on his behalf who would do the payments. Special provisions are made to define a team of finance contacts as well. These can be done via both App and ERP.
Our service team provides prompt support to resolve any payments related issue, customer focus being our top most priority. Such seamless integration of digital payments with business processes would help in bringing about a behavioral shift in the Indian trucking sector.