What is Happay?
It is not a piece of cake to build and manage an enterprise. Since the employees are one of the most significant assets, the company must efficiently carry out their payment and welfare strategies. When the workers are happy and satisfied, they put in their best efforts which lead to the overall growth and success of the business. Various tools and platforms help them in the management of business expenses which includes the review, approval and processing of employee expenditures and assessment of such reports. Happay is one such software that makes corporate expense management an easier task for the companies.
Happay (1) was founded by Anshul Rai and Varun Rathi who are both graduates of IIT Kharagpur. It was started as a secure payment platform where transferring money could be as simple as texting. After realising the relevance of employee expenses in companies, the founders decided to modify Happay for this purpose. They have replaced the outdated system of cash and paper by creating an online platform. Happay provides a secure and straightforward software to organise and keep track of corporate expenditures. It is much easier to maintain than the conventional methods of record-keeping and has proven to be faster and more efficient.
Using the Happay business expense card and mobile app, the workers can immediately update all information regarding the revenue of the company. The companies can have a reliable source of data which helps to keep their procedures smooth. Moreover, the accountants in an enterprise can also make use of Happay services to keep a proper record of their work. As of now, Happay serves more than 5500 companies which makes it the leading expense management software in India.
About the founders
The co-founder and CEO of Happay, Anshul Rai completed his graduation in Computer Science from IIT Kharagpur. His skills and abilities in the subject led him to a position at Microsoft Research Lab. During his career, he has published four papers in International Journals and filed two patents. However, Anshul wished to make a significant contribution to the nation by creating something of his own. He was also driven by a desire to acquire more knowledge and improve his skills in coding. After two incredible years of working with Microsoft, Anshul quit his job to start the venture of Happay.
Varun, who is the Chief Operating Officer and co-founder at Happay originates from a business family. Just like Anshul, Varun is also an alumnus of IIT Kharagpur. After graduation, Varun took up a career at the TATAs, which he thought was too easygoing. He preferred a job that constantly challenged him. Varun believed that since he was from a business family, entrepreneurship persists in his blood. He is enthusiastic about innovation and wants to utilise it to make lives simpler. He is fixated on making great client encounters and ensures nothing is ever settled on that front. Varun is also glad for his Marwari business aptitudes and is utilising them with full enthusiasm to make Happay the most favoured method of payment.
The beginning of Happay
Happay was first established in 2012 as a payment platform. The founders wanted to make the transaction of money between friends and family much more comfortable than it already was. They launched the Happay mobile app that works as a mobile app through which you can make and receive payments to anyone using just their phone number. They received great feedback from the users of Happay since it provided a convenient way to transfer money even without the bank account details.
Within a few years, Anshul and Varun realised how different and complicated these transactions could be for companies. While sending money to a friend was as easy as sending a text, most businesses still carried on with the conventional forms of money transfer. It was the cash and paper that has remained the same for many decades. It caused a lot of miscommunication which led to inefficiency in the procedures. The payments were still made in cash, and the workers wasted valuable time taking care of the expense reports. Most companies had no real control or perceptibility into how their money is being spent.
Accountants had to go through days arranging piles of paper full of receipts and spreadsheets. There were a couple of softwares attempting to take care of these issues, but tragically, they took into account bigger companies. Moreover, these applications were costly, complicated and did not provide any end to end encryption. The time and effort put into expense management took a toll on the proper working of many small and medium businesses. Therefore, the founders of Happay wanted to evolve their platform to serve these companies.
The services of Happay
It is the brilliant features of Happay that makes it the first choice for many companies. Let’s take a look at how Happay helps the enterprises as well as employees.
- A single tap payment transfer: You can instantly send funds to workers within seconds no matter where you are or where they are.
- Dynamic control: Pre-approve and control the purchases made by workers. Set expense agendas and arrangements on each employee’s Happay card, switch cards on/off and withdraw money if essential.
- Live supervision: See who’s utilising the card for how much as soon as they make a card swipe.
- Quick endorsements: Approve reports of the expenditure at just the click of a button using the Happay app for admins.
- Get detailed information: Easily relate the actual expenses with agendas. Screen the info and view personalised reports by day, week, month, representative, class, venture, and so on.
Here is how Happay helps employees:
- Easy money requests: You can now request the cash from your administrator by means of your Happay application and get immediate access to the funds through Happay cards
- No extra costs: You no longer have to cover expenses out of your pocket or hang tight for loans. Get money pre-stacked on your Happay Card.
- A continuous record of expenses: Happay records the transactions as soon as you make a card swipe. You won’t have to waste time doing separate data entry.
- Digitise paper receipts: Click a photograph of your paper receipt and label it to the expense in a split second.
- Arrange the transactions: Quickly classify the exchange once it is done and include a short explanation whenever required.
- Effortless cost reports: Selecting expenses and submitting them are now at the tip of your fingers. It does not require any additional data entry or spreadsheets.
- Regular statements: Get alarms regarding any kind of mistakes in reports, changes in the status of pending reports, or the manager’s remarks on denied expenditures.