“So there was a time when I had to urgently convert rupees to dirham when I was going to Dubai. In normal cases, I would have to sit and add the beneficiary, and wait for an hour before I could make the transaction.
But I had a flight to catch in one and a half hours that is when I used the UPI feature and transferred the amount instantly. The RazorpayX Instant beneficiary addition feature helped me a lot to save on time and make quick and urgent payouts in just no time.”
It all started in 2015 when Ranveer graduated from college and he started making his own fitness videos.
Ranveer Allahbadia started his Youtube channel named BeerBiceps in 2014 and has since grown to become one of the most popular channels in the health and fitness niche in India. He started his journey as a fitness enthusiast who was passionate about health and wellness. After completing his engineering degree, he started working as a digital marketer for a startup in Mumbai.
However, his true passion was always fitness, and he initially started posting videos about workouts, nutrition, and lifestyle tips and started writing blog posts about fitness and nutrition in his spare time.
Now the channel has over 5.12 million subscribers and features content related to fitness, nutrition, health, and lifestyle.
Ranveer Allahbadia is not only a successful YouTuber but also an entrepreneur and public speaker. He has started his own fitness company called Monk Entertainment, which offers fitness and wellness products and services.
But there was something coming in the way of creating new content every day and that was banking. Traditional banking involved so much paperwork and the usual time to initiate a single payout was really high.
“We realised we needed a solution urgently which can help me focus more on my channel and lesser on banking.”
In the words of Ranveer Allahbadia, the founder of BeerBiceps
“Back then influencer marketing was unheard of. As a result of which we had vendors to cater to but traditional banking impacted the transaction time as well as the beneficiary addition time immensely. Imagine if one solution could solve all of our problems!
In a creator’s ecosystem, a creator would always want to give more time to creating new content instead of getting into the details of banking. We wanted a solution that can help me solve all business banking woes in one single smart dashboard.
That’s when we heard of RazorpayX.”
RazorpayX makes regular transactions, vendor payments, and bulk payments so much easier and for anyone who is willing to solve their banking woes, RazorpayX would be the perfect option.”
Instant Beneficiary Addition
“Making instant payouts was immensely troublesome for us. The waiting period before making any transaction was practically consuming all of our time. And we urgently wanted a solution.”
This is how RazorpayX Instant Beneficiary Addition helped us:
| Before RazorpayX | After RazorpayX |
| After adding a beneficiary had to wait for 30-45 minutes to initiate a transfer of payouts | After adding a beneficiary can instantly transfer payments without any delay |
| Took a lot of time to send payouts to vendors and suppliers due to the delay | Sending immediate payouts to vendors and suppliers without any delays |
“In any net banking platform, I had to add a beneficiary and wait for 30-40 minutes before making the transfer but now with the RazorpayX instant beneficiary addition, it helps me save a lot of time, plus there is a UPI option which makes transactions super smooth.”
Vendor Payments
“RazorpayX provides an option of adding a TDS category, for example, if I don’t know about finances and the vendor sends me the invoice I can simply upload it, add the TDS category and allow the auto-deduction of TDS. That’s all.”
It helps us save a lot of time. With the RazorpayX smart dashboard, we don’t have to actively think about whether TDS was deducted or not, or whether multiple vendors are paid or not, hence we can focus on other things instead.
If I had to dedicate an hour every day, now I just have to spend 10-15 minutes.”
The Vendor Payments feature of RazorpayX helped us in several ways and here is how:
- Auto-Deduct TDS: We add the TDS category to the vendors and the TDS is auto-calculated, deducted and paid for every invoice
- Simplified payment process: We can make bulk payments to multiple vendors at once, saving time and effort.
- Faster payment processing: Payments are processed quickly and efficiently, reducing the turnaround time for payments.
- Reduced errors: The use of a spreadsheet for payment details minimizes the chances of errors in payment processing.
- Better cash flow management: Businesses can manage their cash flow better by making payments to multiple vendors at once, instead of having to make individual payments at different times.
Bulk Payments
“Bulk payment needed paperwork, and bonds and took a lot of time, if I have to make team salaries I cannot waste half an hour on it, rather I will make one file and bulk upload it but even that was a very big task.”
With RazorpayX bulk payout feature, we saved a lot of our time and here is how:
- We can upload a CSV file with the details of the recipients and the amount to be paid.
- The payments can be made using multiple payment modes, such as bank transfer, UPI, or wallet transfer.
- We can also track the status of the payments in real-time, and receive automated notifications for successful and failed payments.
“Now we can literally upload details in no time and make the payout in 2 minutes. Just add the details in a sheet, upload it and do the bulk payment in seconds and this has helped us save a lot of time for the accounts team as well.”
Also opening a CA was a task and documentation were burdensome, but opening RazorpayX-powered Current Account was a one-time process smooth process, this reduced a lot of dependency on RM and now we feel we can control and manage our finances all under the same roof.
RazorpayX helped Beerbiceps to manage their payouts more efficiently. They were able to disburse payments to their vendors, partners, and employees quickly and easily, which improved their relationships and helped them to stay on top of their cash flow.
Overall, RazorpayX helped Beerbiceps to streamline its financial processes and manage its finances more efficiently, which had a positive impact on its business. They were able to save time and money, reduce the risk of errors, and improve their relationships with their partners and vendors, which helped them to grow their business and achieve their goals.
As Ranveer says, “Believe in yourself and your abilities. You are capable of achieving great things.” he believed in RazorpayX.
When are you?
