Mumbai, 10 July 2024: Zaggle Prepaid Ocean Services Limited has recently won three prestigious awards for its innovative spend management solutions. These awards recognize Zaggle’s outstanding achievements in developing and implementing cutting-edge spend management solutions that deliver significant business value.

Among numerous participants, Zaggle reinforced its position as a market leader, getting honoured with the “Fintech Brand of the Year” award at BW’s Festival of Fintech Awards & Conclave 2024. Additionally, the platform distinguished itself at the 11th Payments Industry Awards 2024, winning the title of “Best Spend Management System” and “Best Card Initiative” for Zaggle ZatiX – Spend Analytics Platform.

The key factors that led to Zaggle winning these prestigious awards are its innovation and disruption in the fintech industry, its strong focus on customer centricity and impact, significant growth and market share, industry recognition and trust, and positive brand perception and social impact.

Zaggle’s spend management solutions have delivered significant business value by enhancing efficiency and accuracy. Through automation and streamlined workflows, the company has reduced procurement cycle times by 30%. Additionally, the accuracy of expense reports has increased by 70%, and processing times have decreased by 90%, leading to improved employee productivity and satisfaction. The system provides real-time visibility into spending activities, enabling proactive decision-making and cost control measures. The platform has received accolades from industry analysts and customers for its usability, reliability, and effectiveness.

Zaggle’s spend management system distinguishes itself through its comprehensive feature set, user-friendly interface, seamless integration capabilities, and proven track record of delivering tangible business value. These expense management solutions are linked to ESG (Environmental, Social, and Governance) goals, providing tangible benefits in terms of environmental stewardship, cost savings, transparency, stakeholder engagement, risk management, employee satisfaction, and competitive positioning. A study by the Global Business Travel Association (GBTA) also showed that ESG-linked expense management solutions can lead to a 5-10% reduction in travel emissions.

“These awards highlight our robust strategy, which is a testament to our dedication to revolutionizing expense management by offering seamless integration, advanced analytics, and an unmatched user experience. Since the launch of Zoyer, we have enabled seamless invoice processing and automation for a number of our partner brands, leading to reduction in invoice exceptions requiring manual intervention and improvement in productivity in managing invoices across departments,” said Raj N., CEO of Zaggle.

Zaggle was listed on both BSE and NSE in September 2023 and has since then demonstrated stellar results. It remains one of the few profitable fintech companies, with the last 17 quarters being profitable. In Q4 FY24, Zaggle’s net profit jumped 1.5 times to ₹19 crore. The company has also signed over 650 partnerships in the last year.