Vendor Feature And Policy Updates

Customer satisfaction is key to the success of any business. In keeping with this, we revamped the vendor on-boarding process for an enhanced experience and higher scalability to the KredX suite of products. 

Vendor On-boarding 2.0 

Effective Communication: The latest KredX dashboard comes equipped with crucial informative elements to ensure a smooth on-boarding process for vendors. As a result, the revamped vendor on-boarding delivers a superior experience. Flexible process: The updated process enables vendors on the dashboard to simultaneously complete the various stages like pre-sanction and post-sanction among others, rather than waiting to clear one stage to go to another in a chronological sequence. Faster On-boarding Time: Since the on-boarding process has become flexible, we are focusing on proactive communication with our customers as a result of which vendor on-boarding is now quicker. 

KredX’s Vendor Policy Update

We have also updated our vendor policy for improved process efficiency, which is detailed below.

New Deal Listing Guidelines

The revised vendor policy states that in case of any outstanding amount against an existing deal listed on the platform, the vendor will not be allowed to list any new deals. To ensure a hassle-free process, a vendor must close all listed deals within the allotted time to continue with a seamless deal listing process and flow of funds.

Pass-Through Of The Remaining Money On The Un-Discounted Invoice

If there is any deal overdue for an enterprise, KredX will not initiate any pass-through for the margin money of the discounted invoices or inflows against un-discounted invoices until the overdue is cleared.

Invoice Verification

KredX will verify invoices initiated by a new enterprise which is to be on-boarded. The process will involve an email being sent by KredX to the authorised signatory to verify all invoices from the enterprise following which the enterprise will be required to respond to all the questions mentioned in the email. 


The updated process will also involve the collection of NACH mandate of the sanctioned amount instead of collecting security cheques for the same amount. The KredX account manager will coordinate with the respective person to get the NACH mandate signed. Upon receiving the NACH mandate, the existing security cheques will be returned to the respective party.

Turnaround Time (TAT) For Deal Listing And Adjustments 

The adjustments for turnaround time(TAT) for deal repayment and pass-through will be initiated once:
  • The system reflects the amount
  • The payment advice including the invoice number has been sent
  • The proceedings for any credit sent to us before 4:00 PM will begin on the same day
  • If credit is sent after the time mentioned above, the proceedings will take place from the next working day

Collection Of The Standard Documents

At the end of every quarter, the vendor has to submit the bank statements provisional financials of last financial in Q1 and the audited financial in Q2 of the financial year. The updates to the vendor process and policy have been made to ensure that our vendors enjoy a seamless process on the KredX Platform. In case of any other query, please email us at Also Read: KredX Feature Updates – Q1 FY 2019-20