The best RazorpayX Alternative in India

Volopay’s single dashboard is probably one of our most impressive features. Unlike a complex suite that utilizes multiple dashboards, all of Volopay’s features are available from the same portal. The interface is easy to use and requires no technical know-how to operate. Your wallets, account, and credit limit are visible to approved users, along with the general ledgers and transaction lists. Cards can be accessed at any time from the same menu, as can reimbursements and accounting.

The dashboard gives you complete detail on departments, as well. Departments can be created by administrators, with every employee belonging to a specific department. This allows for project-specific expense forecasting, accurate accounting, and a better understanding of how the entire company’s expenses flow. Additionally, the approval workflow on a department level ensures that approvals are timely, and provided by department managers (to avoid the delays associated with a singular approver entity).

The maker-checker workflow is one of the most foolproof workflows to exist in the expense management world. RazorpayX knows it – they employ it in their business center and current account tools. However, Volopay employs it everywhere. The administrator dashboard has the option to create company-wide expense policies and depart-specific expense policies that automatically apply to every payment or card created within them. This means that you can set up auto-declines and auto-approvals for most amounts.

Aside from this, there is a tiered approval workflow (with the ability to set up to 5-tiers). All transactions, card reload requests, vendor payments, and reimbursements are approved through this workflow (which also lets you set up multiple members for each tier, in the case of an absence). The result? A smooth accountability process that can take place within minutes. Approvers of any level can also flag transactions and request details attached to the same data in order to further verify payments.

Corporate cards are not a new or unique invention – but our approach to them definitely makes them more user-friendly and accessible. Aside from our physical cards, you can also generate unlimited virtual cards for employees. These cards are fully customizable. What does that mean? It means you can link a card to a specific wallet, or a specific department, and decide exactly who approves its reload. 

Cards can be one-time use, burner cards, vendor-specific cards for SaaS management, and even gift cards or allowance cards for remote employees! You decide the amount, the expiration date, and who gets to use it. Non-transferrable in nature, they’re not only easy to use but also foolproof – especially since they’re not linked to your bank account details and your data remains secure.

Bookkeeping is made easier with Volopay, since we integrate with popular accounting software and ERPs worldwide. Quickbooks, Zoho, Tally are all integrations you can set up from your Volopay account. Sounds the same as RazorpayX? We’ve got more. You can also set up your accounting with Netsuite, MYOB, Deskerra, Xero, and more. There are also options to export and download your ledgers if needed.

These integrations prevent any kind of manual line entry or mistakes in tallying the numbers. As soon as a transaction happens, it can be verified and synced to your books. And this automated data feed works both ways. Make changes on one software, and it reflects in the other.

Accounts payable is one of the most important aspects of business finances. It also requires a lot of hard work, manual effort, and endless piles of sheets/paperwork. Even the digitization of AP hasn’t prevented it from being a productivity killer (not to mention the time and dollars spent). RazorpayX, unfortunately, doesn’t allow end-to-end automation to smoothen this process. While there are options to create and send invoices, set up payment links, or enable payroll – ultimately it still requires a manual trigger to initiate.

With Volopay, everything is a one-time setup process for an easier tech-based intervention. Invoices use OCR and three-way matching systems to automatically create bills. Recurring and advance payments can be automated, and reminders set up for clients. Instead of manually creating payment links, vendors and freelancers can be onboarded. Their data is saved to prevent manual link creation or data entry in the future.

The best part? All of it is updated in real-time. Every card payment, every transfer, every wallet, and every reimbursement is recorded live in the general ledger (GL). This allows for an eagle-eye view of the company expenses and also lets department-specific dashboards view their allowance patterns.