About Open

Open is a cloud-based solution that helps startups and small to medium businesses manage virtual accounts, expenses, taxes, payments, invoices and other operations via a unified portal. The platform enables enterprises to manage customer payments, bookkeeping, financial reports and other accounting activities. Open includes a centralized dashboard, which lets organizations gain visibility into cash-in-bank and cash-in-hand, send automatic payment reminders and share estimates, cash memos, invoices and credit notes with vendors/customers. Supervisors can generate payslips, monitor employees’ leaves and attendance, and analyze reports using the payroll management functionality. Additionally, accountants can send invoices to vendors and accept payments via RTGS, NEFT, IMPS and other modes. Open offers payout API, which allows users to automate one-time or bulk payments and track multiple transactions. It is available for free and monthly, quarterly or annual subscriptions. Support is provided via phone, email and other online measures.
Open Software - Open payments
Open Software - Open banking
Open Software - Open expenses
Open Software - Open dashboard view
Open Software - Open payments - thumbnail
Open Software - Open banking - thumbnail
Open Software - Open expenses - thumbnail
Open Software - Open dashboard view - thumbnail

Open pricing

Open has a free version and does not offer a free trial. Open paid version starts at US$7.87/month.

Starting Price:
US$7.87/month
Free Version:
Yes
Free trial:
No

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Open Reviews

Feature rating

Value for Money
4.9
Functionality
4.5
Ease of Use
4.7
Customer Support
4.7
5 reviews of 27 View all reviews
Pranav
  • Industry: Food & Beverages
  • Company size: 2-10 Employees
  • Used Daily for 1-5 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
5

5
Reviewed on 16/12/2021

Great platform with amazing functionality!

The reason behind working with Open was pretty simple. It provided us with a feature to access our funds in our bank account in ways other than the conventional methods like Bank Transfer, NEFT, or RTGS.

Pros

Open Money made it extremely easy for us to manage our foreign transactions related to online portals like Shopify, G Suites, etc. The interface is pretty convenient and the ability to create different expense cards based on the expense category really helps in managing and tracking all the marketing expenses.

Cons

The integration process did have some glitches at first but nothing major that cannot be solved with some tweaking. Rest everything was pretty seamless.

Deepak
  • Industry: Education Management
  • Company size: Self Employed
  • Used Weekly for 6-12 months
  • Review Source
Value for Money
5
Features
4
Ease of Use
4
Customer Support
5

4
Reviewed on 29/7/2021

Still a lot to do.

It has eased some of the issues that I faced with banking but has a lot of room to improve.

Pros

It is a cloud based platform, so there is no worry about losing the data. (The previous app I used, had a sync issue and had to redo six months of accounts again.) I went for it for two reasons:
1. The annual package was attractive with a business credit card and access to a website building platform.
2. It has many automations related to payments so I do not have to reconcile records manually (in most cases).
With a majority of my customers preferring digital payments, multiple modes of payments facilitate timely receipts of payments which are a most for a small business.
The data can be imported to Tally which my CA loves the most. You can even allow access solely for accounting purpose.

Cons

1. They need to design the platform to suit a businessperson's needs (to whom they are trying to sell it).
2. Often on weekends, NEFT mode of payment has issues which get sorted only on Monday mornings. No customer support on weekends. Failed payment reversals take eternity.
3. PAIN to use on a mobile phone. Cannot import contacts. UI on mobile feels like a website adjusting full version to mobile.
4. Customer care often has text book replies.
They are improving but are a still a long way from being user friendly.

vibhash
  • Industry: Hospitality
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
4
Features
5
Ease of Use
4
Customer Support
4

4
Reviewed on 16/12/2021

open money feedback

Pros

Easy to use , user friendly , Customer support is quick

Cons

Mobile features are good , But needs a more clarity on IF someone wants to transfer directly to acc

Sachin dev
  • Industry: Chemicals
  • Company size: 51-200 Employees
  • Used Weekly for 6-12 months
  • Review Source
Value for Money
4
Features
5
Ease of Use
4
Customer Support
3

4
Reviewed on 8/11/2022

Open office app

My experience in this product very good very useful products

Pros

In open office app more thing good but it's graphics tools very useful

Cons

More thing in software that's I like graphics tool and other things

Ashraf
  • Industry: Retail
  • Company size: 2-10 Employees
  • Used Daily for 6-12 months
  • Review Source
Value for Money
5
Features
5
Ease of Use
5
Customer Support
4

5
Reviewed on 12/2/2021

Best way to sort our business account reconciliation

Overall a positive experience. My biggest challenge was not having all my accounts in one place. With Open I don't have to juggle between multiple softwares and above all, for a startup the best part is I get to experience all features free of cost.

Pros

I love that it's an all in one software. I can create professional invoices for free and my clients can directly pay with a link via card or netbanking or UPI. So the choice of payment is at the users discretion but for me, all my business payments come in one place and the status of the payment gives me clarity without having to keep checking my bank statement at all times. So big bonus for account reconciliation which for small businesses is a headache!

Cons

Unable to categorize virtual cards. I have to keep an offline record of which virtual card is for which purpose, like - marketing, food, etc.

Alternatives Considered

PayU and Zoho Books

Reasons for Switching to Open

These products provide only payment gateway. However, Open is a one stop shop solution. Plus Zoho Books was very expensive for a startup.

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