The year is 2020, and the pandemic is making everyone work from their homes. Suddenly, people need super-fast WiFi, comfortable tables and ergonomic chairs – to IT employee Pawan and his brother Chirag Demla, this was the opportunity of a lifetime.
He saw the gaps in the ergonomic office chair market – a slow, delayed supply chain and a lack of quality products.
Thus CellBell was born.
With CellBell, Pawan and his co-founders created the perfect set of office chairs for their fellow IT employees – a workforce of a whopping 5.4 million in India as of March 2023.
They even featured on Shark Tank, and their popularity only exploded – their product was working, their business model was sound – everything seemed to be going great.
But for business success, you need more than just a perfect product.
No business can avoid dealing with vendors, and CellBell was no exception. They quickly realized they had to ensure a good relationship with their vendors if they wanted timely deliveries and happy customers.
A big part of ensuring your vendors like you is making sure they are paid on time.
The process of making these payments was extremely cumbersome. They had to fill out 30+ RTGS forms per week and make sure these forms reached the bank before closing time.
At the bank, they’d deal with long queues, paperwork and a complete lack of transparency – once the forms went to the bank clerk, there was no way to tell if the payment went through!
- Manual form entry leading to errors
- Having to follow inconvenient bank timings
- Having to physically submit forms at bank branches
- Lack of transparency – each payout had to be manually checked
- Server issues and downtime on online banking portals of traditional banks
With these problems came unhappy vendors, delayed deliveries and a drop in customer satisfaction.
The RazorpayX Solutions
It was at this point that CellBell met RazorpayX.
Centralised Fund Management
The first thing RazorpayX did for CellBell was offer one dashboard for everything money-related.
Before RazorpayX, CellBell managed multiple Current Accounts with different banks – for segmented information on revenue generated from different marketplaces.
Incoming and outgoing funds from every marketplace, be it Amazon or Flipkart, now went into one Current Account. The founders of CellBell now had the utmost clarity in their money management with this new centralized money management system.
Vendor Payments Optimization
With RazorpayX Vendor Payments and Payouts, CellBell made payments to their vendors on time, accurately and with full transparency.
As vendor trust improved, so did CellBell’s credit limits and periods with vendors. This led to better money management and more money in the bank – which meant stable, healthy business expansion.
Happy vendors deliver on time, and on-time deliveries make everyone happy.