The repulsive sight of used sanitary napkins hung from a Jambul tree on a cliff, marring the lush greenery, representing the pervasive and destructive effects of modern living.
Upon seeing ragpickers handling used sanitary napkins and diapers with their bare hands, it became apparent that something was wrong. After speaking with about 2500 women, it became clear that accessible sanitary disposal was urgently needed, and waste pickers wanted to handle it in a more dignified manner.
Ajinkya Dhariya, a mechanical engineering student in his twenties, responded to this urgent situation.
He started a journey to bring about positive and significant changes in the menstrual waste disposal system, with a larger vision of protecting women, waste pickers, and Mother Earth.
😮In India, there are 330 million menstruating females, and 30% of them use sanitary napkins. Currently, incineration is the only way to dispose of waste, resulting in 90% of this waste being sent directly to landfills.😮
And in this context, Padcare was created.
“Realizing the taboo surrounding the word “PAD,” I took action to transform the menstrual ecosystem. “
Despite initial backlash, Padcare was featured on Shark Tank Season Two.
Ajinkya Dhariya, CEO of Padcare accepted a joint offer of Rs 1 crore for 4% equity from Peyush Bansal, Namita Thapar, Vineeta Singh, and Anupam Mittal after receiving a “blank cheque”.
“My journey was driven by courage and a passion for change.”- Ajinkya Dhariya, CEO, Padcare
Padcare provides sustainable menstrual hygiene and its mission statement reads:
To make modern sanitation choices safer and recyclable for women across the world and encourage inclusiveness, equality, and healthier practices in public hygiene on a global scale.
Since Padcare is a business-to-business (B2B) company operating by providing products or services to other businesses for better disposal and recycling of sanitary napkins.
That is exactly why Vendor payments were important for them as a business.
😭When Padcare seeks to establish a new business relationship with a company, they usually send a vendor registration form.
😭This form is used to collect various pieces of information about the new vendor, including their contact details, business details, and bank account information which are required to make payments for the products or services provided by the vendor.
🧐This was how Padcare used to onboard new vendors.
Through Zoho, a purchase order was created and sent to the accounts team.
😭Previously, the process of making vendor payments involved going to the bank portal, manually adding the necessary data, and waiting six hours for approval.
😭Once approved, they had to return to the portal to transfer the funds. This process was time-consuming and inefficient.
But the transaction took a lot of time since they had to wait for around 6 hours before initiating the first transaction and wait for a cooling period. This delayed their payment cycle and was a reason for a number of missed deadlines as well.
Padcare immediately realised the need for a solution that would help them with faster vendor payments as well as instant beneficiary addition because they needed to save time as well as manual labour.
🚀That is when they came across RazorpayX.🚀
“If it took us 200 minutes before to do the vendor payments, now it takes us 20 minutes.-Ajinkya Dhariya, CEO, Padcare”
🚀Let’s have a look at how RazorpayX helped Padcare with their Vendor Payments.🚀
|Before RazorpayX😭||After RazorpayX❤️|
|Previously, adding vendor details manually was time-consuming||With RazorpayX, invoices can be uploaded in seconds, and vendor details are updated automatically, saving more than half the time|
|Additionally, calculating TDS manually and making complex payments was a problem||Now, TDS categories can be added to vendors, and the system auto-calculates, deducts, and pays TDS for every invoice|
|Scheduling payments for future dates was not possible earlier and hence deadlines were often missed||With RazorpayX, payments can be scheduled for future dates, avoiding missed deadlines.|
|There was no single dashboard to track all payments, and multiple portals had to be used||Now, a single smart dashboard can be used to track all payments and obtain smart business reports and insights|
Since Padcare could now add beneficiaries instantly, they could also make instant payouts from the RazorpayX dashboard.
😭Initially, Padcare had to add the beneficiaries and wait for hours before they could do their payouts. Hence a lot of time was going down the drain before initiating the first conversation.
🚀This is how RazorpayX Instant Payouts helped Padcare in saving their transaction time significantly. Let’s have a look.🚀
➡️Previously it was a time-consuming process of adding and verifying beneficiaries through traditional methods. New beneficiaries can be instantly added to their payment system without the need for any manual verification or waiting period
➡️It involved a lot of manual intervention and led to a loss of time and resources with more chances of errors. But after RazorpayX helped them Improve efficiency, streamline payment processes, and reduce the risk of errors.
“RazorpayX is a one-stop solution that can release the burden of accounting, bookkeeping and other business banking, it saves majority of the time with 0 additional costs. RazorpayX has significantly changed our lives and helped us revolutionize menstrual hygiene.-Ajinkya Dhariya, CEO, Padcare”