Case Study: Indian Small Finance Bank achieves spend reduction and faster compliance with Expenzing

Indian Small Finance Bank reduces AP workload by 35% with Expenzing

Indian Small Finance Bank, a non-banking financial company (NBFC), faced significant challenges managing its rapid pan-India expansion and preparing for an IPO. Its existing manual processes led to invoice processing delays, a strained accounts payable team, and difficulties meeting stringent auditor and RBI cybersecurity requirements. To gain control over its 35% year-over-year cost escalation and support its growth, the bank partnered with Expenzing to automate its spend management.

Expenzing implemented a comprehensive suite of its products, including Vendor Onboarding, Accounts Payable Automation, and a Vendor Portal. This solution streamlined procurement, enforced compliance, and automated invoice processing across 300+ branches. The results were significant, including a 45% reduction in invoice processing turnaround time, a 35% reduction in AP workload, and a 65% reduction in manual accounting efforts. The implementation by Expenzing also ensured on-time payments to avoid MSME penalties and provided the centralized audit trails required for a smoother IPO process.