Setlmint

What is Setlmint?

If you are having trouble processing vendor invoices/employee claims, reconciling collections, or B2B collections, Setlmint can assist you.

Setlmint serves more than 200+ Customers and 10,000 Users. It is a payment processing software that uses artificial intelligence to simplify and automate business tasks to pay vendors and collect from customers.

Setlmint  Solutions provides one dashboard to help you:

• Approve and digitally pay vendor invoices, expense claims, and petty cash claims.
• Collect faster from customers and automate reconciliations.
• Forecast & manage cash flow more effectively.

Procure to Pay: Setlmint’s “Procure to Pay” solution automates the process holistically from requisition to payment. It helps you serve stakeholders, including vendors, business teams, and auditors, better.

Collection and Cash Flow: Setlmint’s “Collection and Cash Flow” solution automates collection front and back office operations. This billing and invoicing tool helps you collaborate more effectively with customers and sales & marketing teams.

Setlmint integrates with accounting systems such as SAP, Oracle, Zoho, and Tally, as well as banks like ICICI and HDFC. It’s designed to be user-friendly, and mid-sized clients can go live in 1-2 weeks.

Why Choose Setlmint Software?

• Unified Financial Oversight: Provides a single dashboard to track, approve, and analyze procurement, expenditure, collections, and cash flow, ensuring real-time visibility.
• End-to-End Automation: Automates workflows for vendor payments, employee claims, and customer collections, including OCR data entry, accounting entries, and TDS deductions.
• Enhanced Internal Controls: Supports 2/3-way matching (invoice, PO, GRN) and robust audit trails for compliance and accuracy.
• Seamless Integration: Connects with bank accounts and ERP systems for bulk digital payments and automated receipt reconciliation.
• Improved Collaboration: Offers vendor self-service, KYC onboarding, and tools for bi-directional communication between vendors, employees, sales, finance, and management.
• Time and Cost Efficiency: Speeds up processes with auto-escalations, centralized digital mailroom, and automated reminders, reducing turnaround time (TAT).

Benefits of Setlmint Software

• Seamless Scalability: Supported smooth implementation as locations grew from 600 to over 1,500.
• Significant Efficiency Gains: Achieved a 98%+ reduction in delays, errors, and escalations.
• High OCR Accuracy: 93.5% of invoices processed with zero extraction errors.
• Automated Reconciliation: Enabled 3-way matching of receipts, payment advice, and invoices in SAP.
• High Automation Rate: Achieved 90%+ auto-match and posting rate.
• Reduced Unreconciled Receipts: Decreased unreconciled receipts by 70%.

Additional Features of Selmint Solutions

Procure to Pay Features

• One dashboard to track, approve, and analyze (Budget vs Actual) business-wide procurement and expenditure.
• Automated workflows and Collaboration tools between vendors, employees, finance, and management. Vendor self-service, onboarding, and KYC.
• Centralized digital mailroom for receiving business-wide Invoices/Claims from vendors and employees, and quotations from vendors.
• Improved tracking of deliveries, billing, and payment against purchase orders and budget. Auto escalations to improve TAT.
• Automated data entry (OCR), auto-creation of accounting entry, TDS deductions, narration.
• Connect your bank account and release bulk digital payments to Vendors and employees.
• Automated matching of invoice with PO and GRN for internal controls (3-way match) and invoice and GRN (2-way match).
• Document management system and audit trail: Easy to retrieve Quotations, Invoices, Expense Claims, Petty Cash Claims, and a robust audit trail.

Collection and Cash Features

• One dashboard to track, collect, reconcile, and forecast business-wide collections.
• Auto-assign and route customer invoices from ERP to Sales Associates: Management gets an aggregate view of the Debtors' portfolio.
• Automated and manual reminder system: Bi-directionally communicate with customers or internal stakeholders.
• Emails get tagged to invoices: Visibility into collection activity with a few clicks.
• Automated workflows and collaboration tools between sales, finance, and management.
• Connect your bank account and auto-pull Receipts into the ERP.
• Automated matching of receipts and invoices: The OCR engine reads the payment advice and matches it with the bank statement and invoices.
• Excel-like cash flow forecast: Inputs from sales, AI model identifies Customer-wise payment pattern.

Setlmint Pricing

Setlmint price is available upon request at techjockey.com. However, the subscription plans start from INR 3.85 Lacs p.a. + Taxes.

The pricing model is based on usage as measured by the number of supplier invoices, the number of customer payments, and the number of users. For further queries related to the product, you can contact our product team and learn more about the pricing and offers.