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Vyapar, a simple business accounting app attracts 1 million customers in 3 years

Sumit Agarwal developed a simple business accounting app named Vyapar to manage business finances, keep track of inventory, collect payments on time, generate GST reports, and more.
India’s MSME sector still relies on old practices such as making bills on paper. And helping MSMEs adapt is a business opportunity in itself in today’s digital world accounting. Hence, Bengaluru-based software engineer Sumit Agarwal (35) set out on a mission to offer MSMEs simplified solutions to do their accounting and inventory management. He initially put in Rs8 lakh saving into the startup. He realized the need when he was working for Intuit’s QuickBooks, which is an accounting software package for small businesses. He introduced Vyapar, a mobile and desktop app for running small businesses in the year 2016. Sumit Agarwal (CEO) of Vyapar claimed that the app is available for desktops as well as for smartphones, with downloads by more than one million MSMEs. This simple business accounting and inventory management app helped the Indian MSMEs go digital and meet the new business needs. Sumit shared how MSMEs started showing interest in the app as it launched. Over time the app was being downloaded at a high rate. So, Vyapar became a three-person organization with a contribution from Ruqiya Irum, another co-founder.
Vyapar comes with features that allow MSMEs to create GST bills, update payables and auto-calculate totals along with many other tasks. Printing/Sharing of bills on WhatsApp in a few seconds, collecting payments directly online and sending reminders are some other tasks that the app can perform. It also allows MSMEs to check their stock status, track complete inventory quantity, enable low-stock alerts, and stock value along with information such as expiry date, batch number, etc. As the app is available on desktop and mobile, the mobile app comes with a free version, while the desktop version is paid and follows a free trial of 30 days.
The simplicity of Vyapar also makes it accessible, and people with zero accounting knowledge can also use this app. It can work with or without the internet, which makes it a go-to business app. Sumit Agarwal admitted that the most challenging task regarding this development was Getting MSMEs to put their business details on digital software.
What makes Vyapar different from other apps is the fact that it is the only initiative regarding the GST mobile billing arena, with Tally, an accounting software, in its competition. The founder expressed that he is aiming to make the lives of businesspeople and CAs organized and simple. With annual revenue of Rs 3 crore, Sumit Agarwal looks forward to enabling more customers to go digital with providing more services.

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