Fintech firm IRIS partners with Vayana to ease MSME compliances


Mumbai, February 08, 2023.

Mumbai-headquartered IRIS Business Services, which is listed onthe stock exchanges – BSE &NSE – today said it has partnered with Vayana, one of India’s largest Supply Chain Finance plat forms to help MSMEs ease their GST compliance burden andmeet other financial needs through a mobile APP.

The one-stop solution – IRIS Peridot Plus– will help small businesses manage their finances better, and will also help in meeting cash, commerce, compliance and credit requirements of all businesses, particularly small and medium enterprises.

IRIS Business is a SaaS company that provides technology solutions and services in the regulatory technology space across 50 countries globally. It also offers software to enterprises that enable them to meet GST and other taxes compliance as well as invoicing-related work. Vayana, one of India’s largest Supply Chain Finance platforms, has till date enabled finance ofmore than $14 billion to over 2 lakh MSMEs for 1000+ supply chains catering to 25 different sectors.

The partnership aims to combine the strengths of both companies – IRIS’s compliance expertise

and Vayana’s ability to offer affordable credit and cash management solutions, thus making IRIS

Peridot Plus a reliable solution for businesses.

Commenting upon the partnership with Vayana, Mr. K. Balachandran, Co-Founder, and

Director, IRIS said, “At IRIS, we are committed to supporting businesses and regulators globally in their efforts to streamline regulatory compliance reporting. Our expertise and market leadership in India, particularly in e-invoicing and GST filing, positions us well to address the needs of taxpayers. In partnership with Vayana, we are pleased to offer a comprehensive solution that integrates cash, compliance, and credit for MSME customers. We believe our revolutionary mobile APP will play a crucial role in building a connected and digitized supply chain, contributing to the growth and development of India’s economy.”

“We are confident that our partnership with Vayana will immensely help the industry, particularly MSMEs,” Balachandran added., Co-Founder, and Director, IRIS.

Ram Iyer, Founder & CEO, Vayana said, “Vayana is the largest supply chain finance (SCF)

platform in India. Our SCF solutions cater to the 4Cs essential for any business – credit, cash flow, compliance and commerce. With the government’s efforts to formalizethe economy by bringing in the smallest of businesses into the e-invoice ambit; we see theimpact we can make for tens of millions of SMEs by helping them grow through timely access toworking capital. IRIS and our fintech solution Hylobiz together will help the MSME sector tostreamline andautomate their GST & e-invoicing compliances in a connected way, such that itadds to the ease of doing business and makes them credit ready.”