Online terminals will be offered to corporates, MSMEs and the bankers to transact on the platform. M1NXT will help small and midsize businesses (SMEs) access working capital by auctioning invoices to a global network of institutional Financiers who compete to buy receivables through a real-time marketplace, 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India. Maximize your output and profits by optimizing the utilization of your human resources without increasing costs. M1 aims to improve the flow of funds to MSME enterprises by reducing the receivable realisation cycles. To channelize MYNDs leading practices to offer best-in-class Trade receivables exchange for MSMEs, Corporates & Financiers; ensuring seamless liquidity flow between all stakeholders, contributing to the countrys growth. Leading global service provider in business process and technology management, offering a broad spectrum of services in Finance and Accounting (FAO), Human Resource Outsourcing (HRO), Information Technology (IT) and Consulting. The efficiencies creates significant value for the Suppliers, Buyers and Financiers in the system. Be it architecture consulting, IT governance models, Cloud hosting or custom application development; you can bank on our consultants. . HDFC Bank TReDS is an innovative system conceived and regulated by RBI that Mynd Solutions India Mart Intermesh Acquires Stake In Mynd Solutions Nov 27, 2021 Hyderabad / Delhi: M1xchange, India's largest TReDS platform, has secured over INR_324 million in secondary funding from Indiamart Intermesh Limited, in a deal that provided a part exit to SIDBI. Globally, the Firm has been championing people for more than 50 years. Vivek has over 18 years of experience in setting up shared service centers in the HR and F&A space.know more, Jacob is a subject matter expert in supply chain finance. create significant value for the Sellers, Buyers and Financiers in the system. Since its establishment in 2015, the team has invested in over 180 companies globally. Developed markets provide receivable solutions in a wide variety of products by the bank as well as non- bank entities. M1xchange | 5,129 followers on LinkedIn. The financiers Sunil likes travelling, reading and adventure sports. know more, Vivek is a seasoned banking & finance professional with over 13 years of extensive experience in the supply chain finance. HDFC Bank has partnered with M1xchange promoted by Mynd Solutions Pvt Ltd to make a debut in the Trade receivables Discounting System (TReDs) platform. Get our experts to guide you in the Digital Transformation journey. RBI granted approval to Mynd Solutions in Dec 2015, to set-up and operate TReDS under the Payment and Settlement System (PSS) Act 2007. them. He is a successful entrepreneur with a strong background in Accounts and Finance. The team invests in early-stage tech start-ups that are focused on building the new digital platforms driven by the data network. cycles. IndiaMART Intermesh Ltd, incorporated in 1996, is Indias largest B2B platform with 60% of the market and known for transforming the dynamics of Indian SMEs by providing them a one-stop solution to transform their business digitally and reach directly to their end customers online.IndiaMART Intermesh acquired a stake in M1xchange in November 2021. To function efficiently, business departments need access to files and data from all the, In a fast-moving world, there could not be anything more important than keeping up with developing trends. Need of the hour is to reduce the operational costs by reinventing the age-old processes, introduction of technology and optimizing man, Technology performs incredible human tasks with relative ease. The Company couples deep process knowledge and insights with a focused IT approach, targeted analytics and pragmatic engineering to deliver an integrated process solution. Shop. Mynd has also forayed 3 years ago into a niche Fintech space with the setup of the M1xchange under the auspices of the RBI licence granted to only 3 companies across India. M1xchange aims to provide MSMEs Supply chain related cash flow finance at competitive rates through an open bid process via multiple financiers. Till date, six banks and NBFCs have registered in the platform and five are in the process, he said. Credit and Finance for MSMEs: The invoice discounting platform for MSMEs M1xchange, promoted by Mynd Solutions, has achieved breakeven this financial year and is expected to be profitable by. Mynd Solutions is a leading global service provider in business process and technology management, offering broad spectrum of services in Finance and Accounting (F&A), Human Resource Processes (HR), Information Technology (IT) and Consulting. . CoinTribe's coverage in Outlook Biz. Ramesh Bisht is a Chartered Accountant with 13 years of vast experience in Finance services & Client management. Contents * Summary * Problems and issues * Background of the issues * About the client * How we arrived at the solution * Conclusion Summary The grail of business being very volatile in nature is always, How Startups are Optimizing Cash Management, Top Trends in Talent Hiring By Vivek Misra, Reduced Operational Cost = Increase in Profits, Automating Receivables In India The beginners guide, Finance transformation in the competitive business environment, SECURING COST SAVING UP TO 35% THROUGH PAYROLL PROCESS AUTOMATION. The Company couples deep process knowledge and insights with a focused IT approach, targeted analytics and pragmatic engineering to deliver an integrated process solution. Over its life, SVCL has managed funds focused on different themes including Sta rtups/ early stage technology businesses, manufacturing SMEs, service entities, agri- businesses, financial inclusion companies, etc. Talking about the new entity, Mohindru, "The manual bill discounting market size currently stands at Rs 30,000 crore annually, With the online system coming in place, it is only expected to grow manifold in the years to come. M1xchange is one of India's leading TReDS (Trade Receivable electronic Discounting System) platform that was licensed by the Reserve Bank of India (RBI) in 2015 to facilitate the discounting of invoices and bills of exchange of MSME vendors on a PAN India basis. Charges will be levied per transaction and will be decided in due course as per the market conditions. "We have received Reserve Bank of India's (RBI) in-principle approval to implement 'TReDS' (Trade Receivables Discounting System). Company Status: Active Company Age 20 years 5 months . 162 2 Worked with the industry leaders like IDBI Bank, ICICI Bank and YES Bank, know more. He is a successful entrepreneur with a strong background in Accounts and Finance. Most of the Start-ups today need to manage finance & accounts processes on the one hand & expanding business & operations on the other hand. It is intended to bring businesses to the platform to get answers to commonly asked questions through the Knowledge Center. At Mynd, Vivek is responsible for overall operations and strategy, leading a team of more than 1100 employees. Ltd. | 21,469 followers on LinkedIn. A leading security services company employing more than 1 Lakh employees deployed across every state in India, having presence in more than 130 locations with multiple codes and sub codes for social security and Provident fund management, working with more than 15000 end client locations, was faced with a unique challenge of bringing efficiency and To become the most trusted platform where businesses find information and expertise to start and run their operations. bank as well as non- bank entities. (Between 10:00 AM to 6:00 PM - Monday to Friday), You can also write to us at: helpdesk@m1xchange.com. AP NP MR, 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India. We have created M1 Mynd Online National Exchange for Receivables, which will be operational in next 2-3 months period," Mynd Solutions CEO Sundeep Mohindru told here. M1XCHANGE's Trade Receivables Discounting System (TReDS) in an online exchange set up under the approval of Reserve Bank of India (RBI) to facilitate discounting of invoices for MSME sellers. To keep getting important updates on TReDS, sign up to our newsletter. I look forward for your active participation in our journey to bring about a positive change in this space. Founded in 2002, as an F&A and HR services company, today Mynd Group is one of Indias leading business conglomerates with an interest in F&A, HRO Services & Digital Supply Chain Financing. For any queries or complaints, please call us at: Customer Care: 1800-1037261 (Toll Free) Vivek has over 15 years of experience in setting up shared service centers in the HR and F&A space, with 3 years in consulting and 12 years in outsourcing functions, serving companies in the Manufacturing, Engineering, Services, and Telecom industries. In 1997 he graduated from Delhi University, with a Bachelor's degree in Engineering (Computers), First Class with Honors. M1 aims to improve the flow of funds to MSME enterprises by reducing the receivable realisation But not with our RPO solutions. The exchange enables MSME to secure finances by converting their trade receivables into liquid funds, on without recourse basis. By harnessing the latest digital technology tools M1 will endeavour to bridge this gap. Brand Marketing: Managing the entire marketing and branding activities of Mynd Solutions and M1xchange, encompassing the entire range of ATL, BTL and Digital Marketing Campaigns in Indian and African Market. . AMAZON.COM NV Investment Holdings, Inc.,This LLC is a 100% wholly owned subsidiary of Amazon.com, Inc. which is an American multinational technology company based in Seattle, Washington, which concentrate on e-commerce, cloud computing, digital streaming, and artificial intelligence. Awarded as "The Digital Solution of the Year" at the Express IT Award 2017. Mynd has also developed a niche in the international HR space, offering multi country services on a single platform under his leadership. "By integrating multiple technologies, IndiaMART has been able to provide 360 degree solutions to SMEs for their. Vivek has been instrumental in fostering mutually beneficial partnerships with other service providers that has immensely benefited Mynd. Automating Receivables In India - The beginner's guide The financiers are able to easily find bills of exchange that are authenticated digitally by the counterparties and fund them. M1 will also provide a transparent and open architecture system for all the stake holders. Mynd solutions, established in Gurgoan in the year 2002, the company expanded its operations to Mumbai, Banglore and 15 plus cities across the country. In this entire cycle, managing finance becomes a laborious & tedious work. The Reserve Bank of India granted approval to Mynd Solutions Pvt Limited to set up and operate M1xchange, the first trade receivable exchange in India. Ltd. Gurgaon. Mayfield India has over $200 million under management and is a sector agnostic fund that invests in both technology, as well as, non-technology start-ups across sectors such as financial services, consumer brands, FMCG, logistics, and healthcare amongst others. In this evolving business scenario, the chief finance officers or CFOs are seen putting a lot of thought into transforming the finance, Behind every Successful Organization, there are its Successful and well engaged Employees This is no longer just a statement but a way of life now for all Corporates and on this note , I am glad to share my views with all of you on the fundamental and growing trends of Talent Management. Today Organizations, Recent Research conducted by the Aberdeen Group found that companies that leverage outsourcing & automation can process invoices / transactions as much as 59 percent faster than companies that dont outsource. Headquarters Regions Asia-Pacific (APAC) Founded Date Apr 1, 2017 Founders Sundeep Mohindru Operating Status Active Last Funding Type Secondary Market Also Known As Mynd Online National Exchange Legal Name M1xchange Company Type For Profit Contact Email sales@m1xchange.com Phone Number 18001037261 Financing on M1xchange is Without Recourse to the MSME supplier as per RBI guidelines. Our rich legacy, our innate understanding of the markets we operate in, and our ability to evolve to meet the changing needs of the increasingly globalized economy of India. . Business Transforms Now M1xchange Get in touch with us Enquiry Registration By submitting above details, I override my NDNC registration and authorize Mynd Solutions Private Limited or its representative to contact me through SMS/ Call/ Email/ WhatsApp for any assistance and this will not cause any inconvenience to me. Saurav is a seasoned finance and accounting outsourcing professional with hands-on diverse experience of more than 15 years in the overall management of outsource Finance and HR operations of major domestic and global multinational companies in varied industries and sectors. "We have invested around Rs 25 crore for setting up M1xchange, which is partly funded by Sidbi VC fund and internal accruals," Mohindru said . Sundeep is a leading Finance & Technological innovator and a serial entrepreneur in Finance, HR and FinTech space. 288A, Udyog Vihar, Phase-IV, Gurgaon - 122001 Haryana, India. 2017. . 18 comments on LinkedIn He has worked with many large domestic & multinational companies at senior positions including the Controllership and strategist role for the businesses. The efficiencies will Vivek is the co-founder of Mynd Solutions. Copyright @ 2017 MYND SOLUTIONS PVT LTD. All Rights Reserved. The operationally inefficient process employed currently which requires a lot of time and effort for authentication and verification of the genuineness of the transactions is replaced by easy and effective process driven by technology. Mayfield is a global venture capital firm with $2.5 billion under management. TReDS has the capability of transforming the way the receivable finance and other supply chain finance solutions are operating currently. More than 20 Years of post-qualification experience in Automation, Solutioning, Service Delivery, Internal Control, P& L ownership, Accounting, MIS and Taxation. ACCESS TO NETWORK OF 35 BANKS in India for online Financing of Payables INTEGRATED SOLUTION FOR PAYABLES FINANCING- M1XCHANGE FROM MYND for financing of Payables vide Factoring. This critical, Finding the perfect resource for the job could be quite prolonging generally. For any queries or complaints, please call us at: Customer Care: 1800-1037261 (Toll Free) Mynd Solutions is one of the very few entities. 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