Our Retail Cash Management Solution Improves Productivity Of Store Employees Manifold

Progressive Grocer spoke to Varun Rathi, COO and Co-Founder, Happay, whose Retail Petty Cash management solution is a perfect fit for multi-chain retailers by helping them go cashless and manage store-wide expenses digitally with ease.

Tell us about your company and its products and services.

Happay, a Business Expense Management solution provider, helps organizations manage all types of business spends including employee reimbursements, travel & expense management, retail outlet cash management, employee flexi benefits, cash management of large fleets and vendor payments. It’s an intelligent and intuitive platform consisting of Happay Prepaid Visa® Cards that can be managed and controlled via desktop and mobile. Employees use Happay prepaid cards for business expenses like travel, fuel, accommodation, utility payments, petty cash expenses etc. and report expenses on their mobile app. Happay helps organizations fund business expenses easily and quickly and have real-time visibility and control over company-wide expenditure.

Which of your solutions are relevant for and are being used by retailers?

There are many management concerns for retail outlets, for example:

• Distributing Petty Cash: A retail outlet may have a host of small, unexpected expenses in the course of its operation. Snacks for employees or customers, store repairs, stationery, etc, are some of the expenses outlets typically see. Retailers must maintain some cash to be used for these ad-hoc expenses but distributing these funds is difficult, especially for a large chain that is spread across the country.

• Separating Sales Cash from Petty Cash: Due to lack of cash in hand, sometimes store operators take cash from the counter to use for ad-hoc expenses. This practice is unfavourable as it often leads to errors in accounting.