{"id":485,"date":"2020-10-13T14:00:00","date_gmt":"2020-10-13T14:00:00","guid":{"rendered":"https:\/\/decentro.tech\/blog\/?p=485"},"modified":"2024-06-13T10:29:31","modified_gmt":"2024-06-13T10:29:31","slug":"simplifying-collections-payouts-zoozle","status":"publish","type":"post","link":"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/","title":{"rendered":"How Zoozle Simplified Collections &#038; Payouts"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_17 counter-hierarchy\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class=\"ez-toc-list ez-toc-list-level-1\"><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/#What_were_Zoozles_Key_Challenges\" title=\"What were Zoozle\u2019s Key Challenges?\">What were Zoozle\u2019s Key Challenges?<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/#How_Decentro_Helped_Zoozle_with_Collections_Payouts\" title=\"How Decentro Helped Zoozle with Collections &amp; Payouts&nbsp;\">How Decentro Helped Zoozle with Collections &amp; Payouts&nbsp;<\/a><\/li><li class=\"ez-toc-page-1 ez-toc-heading-level-2\"><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/#What_were_the_Outcomes\" title=\"What were the Outcomes?\">What were the Outcomes?<\/a><\/li><\/ul><\/nav><\/div>\n\n<figure class=\"wp-block-image size-large featured-post-img\"><img loading=\"lazy\" width=\"854\" height=\"854\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/How-Zoozle-Simplified-Collections-Payouts.png\" alt=\"\" class=\"wp-image-6304\"\/><\/figure>\n\n\n\n<p><strong>\u201cA Symbiotic Community For Businesses\u201d<\/strong><\/p>\n\n\n\n<p>An online platform for companies to find leads &amp; make purchases from verified businesses, Zoozle helps a business to gather leads from everyday purchases. Be it anything- a laptop or executive chair.&nbsp;<\/p>\n\n\n\n<p>When your business makes a purchase, it goes as a lead for another company, and when you buy something on Zoozle, you get their lead. This is the symbiotic relationship Zoozle is setting up for the business community.&nbsp;<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" width=\"2102\" height=\"1330\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Screenshot-2021-04-01-at-5.45.48-PM.png\" alt=\"Zoozle flow\" class=\"wp-image-825\"\/><figcaption>Zoozle: How it Works<\/figcaption><\/figure><\/div>\n\n\n\n<p>Driven by AI, Zoozle helps businesses with lead generation, logistics, supplier credit &amp; financing, and payment management, to name a few.&nbsp;<\/p>\n\n\n\n<p>The more a business purchase via Zoozle, the more leads it can gather. The platform also creates a secure payments collection environment to ensure zero bad debts via escrow.<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_Zoozles_Key_Challenges\"><\/span><span style=\"color:#20509e\" class=\"has-inline-color\">What were Zoozle\u2019s Key Challenges?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Being the auto-pilot for businesses meant there were many aspects for Zoozle to take care of. Some of the challenges Zoozle wished to iron out were:&nbsp;<\/p>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">Cashflow Management &amp; Instant Settlements<\/span><\/h4>\n\n\n\n<p>Increased trade among businesses meant increased fund flows. Traditional payment gateways could prove inept to handle SMEs\u2019 essence- quick settlements at affordable rates. This is a myth in the SME landscape and is a crucial challenge that most businesses struggle with.<\/p>\n\n\n\n<p>Besides, Zoozle knew that for the platform to deliver the promised symbiotic community, it was necessary to manage the flow of funds between businesses.<\/p>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">Company Identity Verification<\/span><\/h4>\n\n\n\n<p>When two companies come together to make purchasing decisions, it\u2019s vital to verify each one\u2019s identity to ensure they are trustworthy &amp; real. Lack of <a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\/\">KYC-compliance<\/a> meant serious trouble &amp; hefty fines. Zoozle wanted a solution that helped them onboard businesses and perform KYC(know your customer) checks.<\/p>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">Bank Integrations<\/span><\/h4>\n\n\n\n<p>To manage cash flows and, most importantly, to ensure that settlements between the SMEs were instant, Zoozle must integrate with banks to have control over the payments. The integration process is long-drawn and would\u2019ve cost them a lot of money and time.&nbsp;<\/p>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"How_Decentro_Helped_Zoozle_with_Collections_Payouts\"><\/span><span style=\"color:#20509e\" class=\"has-inline-color\">How Decentro Helped Zoozle with Collections &amp; Payouts&nbsp;<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Decentro\u2019s product suite helped Zoozle streamline its collection processes and payouts and verify the identities of registered businesses.&nbsp;<\/p>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">Virtual Accounts<\/span><\/h4>\n\n\n\n<p>With <a href=\"https:\/\/decentro.tech\/blog\/what-are-virtual-accounts\/\" target=\"_blank\" rel=\"noreferrer noopener\">virtual banking infrastructure<\/a>, Zoozle was able to launch payment capabilities on its platform within a week.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"2115\" height=\"1020\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/decentro-va-workflow.jpg\" alt=\"Decentro's Virtual Accounts Workflow\" class=\"wp-image-3599\"\/><figcaption>Decentro&#8217;s Virtual Accounts Workflow<\/figcaption><\/figure>\n\n\n\n<p>Each buyer had a virtual account created into which they <a href=\"https:\/\/decentro.tech\/blog\/what-no-one-will-tell-you-about-upi-payment-links-payment-gateways\/\" target=\"_blank\" rel=\"noreferrer noopener\">loaded money using UPI<\/a> or bank transfers. These<a href=\"https:\/\/decentro.tech\/blog\/what-are-virtual-accounts\/\"> <\/a>virtual accounts were set up on top of Zoozle\u2019s business account. Any ledger entry or transaction was updated on Zoozle\u2019s dashboard &amp; Accounting ERP, making it effortless to reconcile payments. In addition, Zoozle was able to reconcile payments in real-time and automate the same.&nbsp;<\/p>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">KYC Suite&nbsp;<\/span><\/h4>\n\n\n\n<p>Decentro\u2019s KYC suite enabled Zoozle to <a href=\"https:\/\/decentro.tech\/blog\/what-is-kyc-why-is-it-important\/\">run comprehensive identification checks<\/a> on sellers using multiple Government-issued IDs such as PAN, GSTIN, Voter ID, Driver\u2019s License, and Aadhar. Instant KYC means faster seller onboarding and lesser hassle of record keeping.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"824\" height=\"526\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/decentro-zoozle-kyc-suite.png\" alt=\"Decentro's KYC Suite\" class=\"wp-image-689\"\/><figcaption>Decentro&#8217;s KYC Suite<\/figcaption><\/figure>\n\n\n\n<h4><span style=\"color:#20509e\" class=\"has-inline-color\">Business Banking&nbsp;<\/span><\/h4>\n\n\n\n<p>Zoozle is now looking to offer banking to the companies registered on the platform. By linking business accounts to the platform, businesses can <a href=\"https:\/\/decentro.tech\/products\/accounts\/\">perform a variety of banking functions<\/a> such as:<\/p>\n\n\n\n<ul><li>Fetching bank statements<\/li><li>Adding beneficiaries without any cooling periods&nbsp;<\/li><li>Initiate payments within the platform<\/li><li>Enable virtual accounts for payment reconciliation<\/li><\/ul>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1144\" height=\"301\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Hurdles.jpg\" alt=\"Decentro's business banking module\" class=\"wp-image-3601\"\/><figcaption>Decentro&#8217;s business banking module<\/figcaption><\/figure>\n\n\n\n<h2><span class=\"ez-toc-section\" id=\"What_were_the_Outcomes\"><\/span><span style=\"color:#20509e\" class=\"has-inline-color\">What were the Outcomes?<\/span><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" width=\"1700\" height=\"854\" src=\"https:\/\/decentro.tech\/blog\/wp-content\/uploads\/Zoozle-Stats.jpeg\" alt=\"outcomes for zoozle\" class=\"wp-image-4073\"\/><\/figure>\n\n\n\n<ul><li>Currently, Zoozle is able to onboard more than 1000+ retailers a month using Decentro\u2019s multiple KYC stacks like GST, PAN, etc.<\/li><li>Proprietors of various businesses are seamlessly onboarded using e-aadhaar via Decentro&#8217;s Digilocker APIs.<\/li><li>Zoozle\u2019s go-to-market timelines were reduced by 50%.&nbsp;<\/li><li>They were able to facilitate the transfer of funds with a click of a button.&nbsp;<\/li><li>Instant settlements were made possible at half the costs for sellers.&nbsp;<\/li><li>Real-time and automated payment reconciliation removed additional headaches from the equation.<\/li><li>Anytime cash withdrawal from the virtual account to the seller\u2019s bank account gave the sellers absolute control over their funds.&nbsp;<\/li><\/ul>\n\n\n\n<blockquote class=\"wp-block-quote\"><p>We started evaluating Decentro to power our banking stack. After interacting with the team, I found them very knowledgeable and agile. The product is an excellent fit for us and solves a central pain point. All factors together made me want to invest with them, and that\u2019s how I\u2019m a customer and an investor.<\/p><cite>Rajesh Dembla, Founder, Zoozle<\/cite><\/blockquote>\n\n\n\n<p>If your business is trying to solve a financial challenge and overcome it as Zoozle did, feel free to email us at hello@decentro.tech. Our product suite, comprising payments, <a href=\"https:\/\/decentro.tech\/products\/kyc-onboarding\" target=\"_blank\" rel=\"noreferrer noopener\">KYC,<\/a> and debt recollection modules, is at your fingertips. To put things into perspective, in just two years, our KYC stack has been churning solid numbers.<\/p>\n\n\n\n<p>With over 400+ Identity validations, 250+ Image recognitions, and 300+ Repository fetches happening via Decentro\u2019s KYC stack per hour, we\u2019re more than equipped to enable your verification and validation journey.&nbsp;<\/p>\n\n\n\n<p>It\u2019s not that hard. We\u2019ll help you make it easy.&nbsp;<\/p>\n\n\n\n<p>As easy as it should be.&nbsp;<\/p>\n\n\n\n<p>Cheers!&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>How did Zoozle overcome the hurdles of settlements, bank integrations, and background checks? <\/p>\n","protected":false},"author":2,"featured_media":6671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[70],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v15.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How Zoozle Simplified Collections &amp; Payouts with Decentro\u2019s APIs<\/title>\n<meta name=\"description\" content=\"A case study on how Decentro&#039;s API platform enabled Zoozle, an AI-driven auto-pilot for businesses, to simplify their collections &amp; payouts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/decentro.tech\/blog\/simplifying-collections-payouts-zoozle\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Simplifying Collections &amp; 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