Omni channel – the only way to enhance your retail business

Omni channel is the system of connecting the various channels to each other and ensure seamless customer experience and satisfaction throughout a retail experience. The software controls a large number of data which helps managers to control retail processes efficiently.

ERP or Enterprise Resource Planning is a shared database for the integration of different departments of business processes where efficient synchronisation helps the staff to centralise data into one single software system. By 2020, more than 96% of the Fortune 500 companies have adopted ERP software because of the large benefits that it offers. It improves business compliance and reduces risks. It enhances customer services by automation of core business operations and global real-time visibility of data.

What is Omni Channel ERP and how it benefits the Retail Industry?

ERP has attained wide popularity in the entire industrial sector in recent years. It is an ERP system specially integrated with Omnichannel in the backend, centralises and streamlines data in an effective way that supports workflow internally. It also eases synchronisation and automatically updates with real-time data and on all selling channels as well as devices which serves buying process.

Retailers earlier relied on multiple channels of engagement with customers that worked independently. brands that were available online as well as in-store purchases were dealt separately. This deprived customers of the advantage of dealing with a brand that was available in different channels. Omnichannel has transformed the customer experience by offering a unified experience to customers.

Some Essential Features of an effective Omni Channel ERP

It is often a task to identify an effective Omni Channel ERP. With the help of the following benchmark features it will be easier for you to choose the right Omni Channel ERP.

1. Control Inventory – Inventory management controls stocks coming from suppliers automatically. It displays stocks based on orders and availability .
2. Managing multiple warehouses – Multiple warehouses can be controlled by on retail store through Omni channel ERP. It adds all the different warehouses and links them to show the availability of Inventory in each warehouse.
3. Order of Purchase – Orders are sent to suppliers at the time when an item is out of stock and it needs to be reimbursed. Purchase order function of ERP allows users to choose any supplier from a list which is managed in an organised way. Then they can calculate profits based on cost and discount. This can also help to identify the most suitable supplier.
4. Internal stock transfer – A product can be moved from one warehouse to situs judi slot online gampang menang another with this tool in the case of internal stock transfer.
5. Reconcile Stock – users can adjust the number of product which is distributed to each warehouse by Inventory. It scans inventory and compares it with data in the backend.
6. Preparing Order sheets – With the help of this function you can create and process packing slips and invoices for orders.
7. Order Fulfillment – After receiving an order successfully, proper implementation needs to be done to process it. With this tool your staff can plan activities and complete orders. However, this is optional and can be set from Magento backend.
8. Point of sale – It is the time and place where a retail transaction is completed. At the P.O.S, the merchant calculates the amount owed by the customer and indicates options for the customer to make payment.This will prevent long queueing at checkout points with quicker server process. This results in 10 x faster checkout speed.
9. Barcoding – With Barcode management function generating and importing barcode gets easier. With ERP system, Barcoding Management becomes more precise and time-saving.
10. Loyalty cards – Shoppers using loyalty programme in both online and offline, rewards point redemption, customer ID and points used can be automatically synchronised. Therefore all transactions are updated in real-time.
11. Accurate Report – All real-time data updater supported by ERP helps managers to take the right decision.Omni Channel ERP provides insightful inventory and sales report without wasting much time.

Omni Channel – Advantages that will keep you at an edge

Technology advancements is a bridge of seamless integration that enables customer satisfaction. Omn ichannel has transformed customer experience by creating a unified experience to customers. It is the best way to redefine user experience.

Customer satisfaction and consistency – Advancement of technology has enabled customer experience to evolve from a single channel to multi-channel, cross channel and finally omni channel.

With automation, analytics and cloud, Omnichannel helps retailers to identify customers as they walk into stores and ensuring visibility at all times. It has brought a huge change in buyers experience. Retailers now have multiple touchpoints, and omnichannel allows for integration in a single unified platform. POS, call centres, online orders, social media engagement, easy payment checkout points are flawlessly integrated with such operations like order management, product slot gacor terbaru life-cycle management, marketing automation, analytics, CX management, branding and merchandising. There are huge benefits from adopting omni channel software as it engages customers at the right time and place in the most effective way, creating a definite buying desire.

 

Research shows that about 63% of buyers use multiple channels when placing orders. A customer is more likely to remain loyal to a brand or store, who has been engaged consistently through different channels – call centre, simple loyalty points redemption or special offers.

The adoption of Omni channel helps the retail industry to use a unified platform to connect with shoppers in a manner that keeps every interaction interconnected. This results in happiers customers and increased revenues.

EXPAND ERP Cloud  based software is fully equipped for the digital new age.

We do it differently.

100% Cloud-Based ERP Solution

With automatic regular backups on Cloud and masking feature your data is secured with us for a lifetime.

Deep Understanding of your business

A ready-to-fit solution with deep industry knowledge which can be further customized as per your business needs.

Mobility

Warehousing, Salesforce, HR, GPS tracking, we provide solutions for every possible process of your business. Expand ERP Mobile App enables you to now manage your entire business on the move. Mobile apps are undeniably the most quickest and efficient way to respond to real-time changes in production. Having instant mobile access on the shop floor makes it possible for the users to deal with live problems instantly, reducing wasted resources and materials. Supervisors can also slot gacor online access product availability or change work data on the spot to eradicate a problem in its tracks. With Expand smERP mobile based app you can achieve all this in real-time.

Personalise Consultation

Expand smERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best fit for your business.

A young entrepreneur testifies:-

“From day one I felt the need of ERP system for my Retail brand. Now that we are expanding to 18 branches all over the country it will simplify my work process and help me organise my business. Expand ERP has helped me and my team round the clock and we have been able to implement ERP software successfully. I strongly recommend Expand smERP if you need to implement ERP system.”

Ayush Baid

Founder, Ellementry

Expand smERP has completed 15 glorious years in building trust and faith of our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Jaipur and in other cities. With the advent of a new year we have new aspirations, new dreams and fresh focuses. We will maintain our goal to spread the latest trend in technology to as many organisations we can reach out to. Our team will focus relentlessly to spread awareness and touch the lives of business owners and help them reach their goals. If your goal as an entrepreneur is to achieve great  heights for your company, Expand smERP Cloud based software is your ultimate route to the peak. Please leave a comment below for more enquiries and information. 

To book a demo call +91 9007026542

ERP on Cloud

96% of Fortune 500 companies are using Cloud computing.

Cloud ERP is the new normal in 2020!

Cloud ERP is Software as a Service that allows users to access Enterprise Resource Planning (ERP) software over the Internet.

Expand smERP is a time-tested business automation software software solution for the fast-growing manufacturers and exporters. For the last 15 years there had been extensive R&D and market testing to make the solution robust and perfect for the manufacturers and exporters.

Expand smERP is a comprehensive scalable, customisable cloud ERP software for the fast growing businesses. It empowers the manufacturers with real-time visibility and complete control over their business for faster expansion.

Why are so many businesses moving to the cloud?

It is solely because cloud computing enhances efficiency, competency, speed and cost-effectiveness which results in the company’s growth. 96% of Fortune 500 companies have at least one cloud offering and a goal to deliver 80% of it’s workloads in the cloud in the near future. Businesses can harness the power of data to connect with each customer throughout the entire customer relationship period. Also finding the right software vendor is also essential for an impactful implementation of Cloud ERP. It’s just a matter of leveraging the right technology to help you get there.

“The hybrid cloud strategy has enabled an agile environment that helps us to respond to new demands and opportunities very quickly.’ – Alice Keung, Economical Insurance.

Hybrid cloud computing is a mixed link between on-premise infrastructure,private cloud user and public cloud user and a third party user by allowing data flow  between them.

The future of cloud is Hybrid

Advancements and progress in the cloud computing industry move at a pace that can hardly be predicted or kept at par with. Cloud infrastructure – public, hosted private and on-premises is increasingly less siloed, allowing workloads to be more portable and data streams more mobile.

2020 will be witnessing several dominating trends that will shape the future of hybrid cloud. Fast-paced cloud industry are developing and will characterise the new trend market.

T.It has emerged as the preferred implementation model that will drive the progress of the cloud industry.

77% of enterprise global infrastructure decision makers that are planning, implementing or upgrading cloud technology say that they are in a hybrid cloud environment.

Indispensable Cloud Computing trends to watch in 2020!

1. Seamless consistency in hybrid cloud – In the following year hybrid cloud space will be seen with new innovations. Organisations will be able to enjoy seamless and consistent hybrid experiences.

2. Hybrid Multi Cloud in demand – Companies are taking advantage of the flexibility to move mission – critical business applications to the environment – public or private or on-premise. Hybrid multi cloud has an inevitable approximate 9000 Crore Rs. market opportunity and nearly 80% of IT decision makers see it in their future. 

3. ‘Security” is the most crucial attribute – 60% of the IT decision makers mark security control as the most essential attribute of cloud computing. Tools will be created  that can uncover security insights and respond to incidents faster through dashboards that help centralize operations.

4. Edge computing gains greater relevance- computations are performed as close as possible to the sources and sinks of data and content, Combination capabilities of hybrid cloud and edge computing brings a great value proposition for organizations, wherein hybrid cloud ecosystem can be used to aggregate most relevant data and back-end functions, while edge can support processing and real-time analytics.

5. Containers will be the core of an effective  hybrid cloud – It provides consistency regardless a workload is deployed on – premise or on cloud.Containers help organisations to maximise business value by simplifying deployment and management processes.

6. Kubernetes will become more consumable with proliferation of open tools – Till last year organisations turned to open source tools to modernise their infrastructure but in 2020, they will be adopting the hybrid multicloud.To stay at par with cut throat competition,companies will resort to tools that can rapidly deploy applications such as containers and Kubernetes.

The future trends play a pivotal role in today’s evolving market trends and requirements. ERP features for manufacturing SME’s must be able to connect devices, departments,  partners, suppliers and your loyal customers in one versatile database. AT powered ERP for transportation or other manufacturing industries will do a lot more than simply track every aspect of your business. It will take your business to the next level and actually provide recommendations for improving and optimising at every level, becoming the real brains behind the operation.

EXPAND smERP Cloud  based software is fully equipped for the digital new age.

We do it differently.

100% Cloud-Based ERP Solution

With automatic regular backups on Cloud and masking feature your data is secured with us for a lifetime.

Deep Understanding of your business

A ready to fit solution with deep industry knowledge which can be further customized as per your business needs.

Mobility

Warehousing, Salesforce, HR, GPS tracking, we provide solutions for every possible process of your business. Expand smERP Mobile App enables you to now manage your entire business on the move. Mobile apps are undeniably the most quickest and efficient way to respond to real-time changes in production. Having instant mobile access on the shop floor makes it possible for the users to deal with live problems instantly, reducing wasted resources and materials. Supervisors can also access product availability or change work data on the spot to eradicate a problem in its tracks. With Expand smERP mobile based app you can achieve all this in real-time.

Personalise Consultation

Expand smERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best fit for your business.

Expand smERP has completed 15 glorious years in building trust and faith of our patrons. We have successfully partnered with many businesses in Kolkata, Delhi, Bangalore, Jaipur and in other cities. With the advent of a new year we have new aspirations, new dreams and fresh focuses. We will maintain our goal to spread the latest trend in technology to as many organisations we can reach out to. Our team will focus relentlessly to spread awareness and touch the lives of business owners and help them reach their goals. If your goal as an entrepreneur is to achieve great  heights for your company, Expand smERP Cloud based software is your ultimate route to the peak. Please leave a comment below for more enquiries and information.

To book a demo call (+91) 9007026542

Manage your business supply chain with erp

“Changes call for innovation, and innovation leads to progress.” – Li Keqiang

All about Supply Chain Management:

Understanding the need -

Supply Chain Management or SCM is crucial for everyday activities in every organisation whether small or large. It is the organised flow of processing of supply chain to maximise customer value and achieve a sustainable competitive advantage. It deals with the movement and stocking of supplies needed to manufacture a product as well as inventory management and keeping track of finished goods. In today’s times, SCM includes the strategic alignment of end-to-end business processes to realise market and economic value, as well as giving a firm the competitive advantage over their business rivals.

Automating SCM with Enterprise Resource Planning software:

In the current hyper-competitive business scenario, handling SCM the traditional way is mere backwardness. In the new automated business processing era, the system is expected to work with visibility, focus and agility to bring an overall enhancement in the organisational operations. An ERP software can bring all these features to action automatically in less time. It can integrate and refine forecasting, create sales and operations plans, promptly respond to demand changes, and supports the core functions essential to runa supply chain business effectively.

The Prerequisites of SCM:

SCM streamlines everything from product flow to unexpected natural disasters. An organisation can diagnose problems and disruptions effectively through a sound SCM. It also plays a pivotal role in transferring goods quickly and efficiently to its destination. It reduces Purchasing and Production cost to a great extent. It improves customer service by delivering the correct quantity and quality of products on time. After sales services can also be tracked efficiently.

How does ERP affect SCM?

ERP software has eased the process of manufacturing industry, as it streamlines all the processes. To begin with, customer order fulfillment to inventory control, ERP system is a one stop solution for all tracking needs.

If you are part of an industry that requires SCM, with the following parameters you will be able to reap the benefits of ERP software system.

For a successful ERP implementation you will require:

1. A defined flowchart that categorises what each section of the company does and how the data or instruction will flow from each department.

2. Appropriate training for all managers and employees is essential to make sure all plans are executed efficiently.

3. A clear understanding of the Return on Investment for both long term and short term is crucial.

4. The company’s resources need to be aligned to ensure successful deployment and continued implementation.

ERP benefits on SCM:

Expand smERP provides a solution which improves supply chain operations. It empowers clarity in vision, focus, agility and control over all the business processes, thereby enhancing your performance goals. Some of the proven benefits are:

1. Tracking of Inventory – To avoid over stocking or shortage, it is advisable to keep track of inventory. With the advanced ERP this process can be made simpler without wasting any time.The user will be notified whenever inventory level goes down so that orders can be placed timely.

2. Clarity in data insight – The efficiency of a supply chain can be graded by the accuracy of the data received. With our ERP system, real-time data can be achieved related to stock inventory resulting in less errors and greater revenues. The software also allows users to access reports 24×7 for a better insight into operations.

3. Integrates various business operations – Expand smERP software helps to streamline and automate all the business processes in a supply chain-HR, Finance, management, sales etc. on one single system. This reduces manual paperwork and enhances the visibility of data through all the departments.

4. Improves process accuracy by standardisation – ERP builds uniformity across teams in single and multiple locations to enhance the competency of the overall system, improving the accuracy of the processing and team work, reducing errors and miscommunications.

6. Unified, transparent view – With Expand cloud ERP solution, you can be assured of  a unified, transparent view of every section of supply chain operations. It provides accurate, relevant and real-time information about shipments and warehousing. This will enhance the clear communication between the employees at the store and the warehouse with accurate information.

7. Inventory Management – Organised management of stock decreases cost and increases the profit of any business. With Expand ERP features, real-time visibility of exact inventory level is enabled. This results in optimum operations and reduced overhead costs.

8. Improves Speed – ERP system is a unified source for all necessary data, so the tools provide transparency and efficiently allocates resources including material, staff and machines, from the initial stages itself. This results in easy coordination and on-time delivery across the supply chain.

9. Makes return of orders easy – If you have a logistics company, supply chain processes dealing with returned goods and backorder processing, can be made simpler with Expand ERP solution. An up-to-date return management system can help businesses to reduce waste and bring consistency in the backorder processing.

10. Generates less operational costs – With intelligent ERP systems like Expand ERP, you are made aware of the costs at all stages of a supply chain. More realistic cost projections can be generated by harnessing the demand and supply flow chart. This reduces the uncontrollable additional expenses and brings in effective cost management in your business processing.

How are we Different?

100% Cloud-Based ERP Solution

With automatic regular backups on Cloud and masking feature your data is secured with us for a lifetime.

Deep Understanding of your business

A ready-to-fit solution with deep industry knowledge which can be further customized as per your business needs.

Mobility

Warehousing, Sales force, HR, GPS tracking, we provide solutions for every possible process of your business. Expand smERP Mobile App enables you to now manage your entire business on the move.

Personalise Consultation

Expand smERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best-fit for your export business.

Other Expand Advantages:

15 years of building trust

With over 15 years of R&D and extensive Market Testing we have developed the best in class ERP software for your specific business needs. With our cutting-edge technology, we have been partnering many manufacturers and exporters over past years in their process automation.

Expand Freedom Pricing

Expand Freedom Pricing has been created keeping your needs in mind. Our attractive pricing module gives absolute freedom to the fast growing manufacturers and exporters to take the decision of digital transition of their organisation with ease. 

Subscription based concept: Prices starting from INR 3300/- subscriber/month

Freedom from all fringe costs. Subscription includes update, upgrade, service, remote support (phone support, ticket support, and screen share support), R&D and remote implementation. It also covers cloud service, auto backup of data, data encryption all managed for you.

Concurrent User Advantage:

Freedom of unlimited named user in multiple departments and amp; locations.All users in your organisation will have their own login credentials at no extra cost.

Freedom from Capex and Infrastructure investment so that you are at minimum risk exposure. Even for customisation it is billed only after customer satisfaction.

Freedom from any upfront cost.

Easy Pay- Freedom to choose from Annual (special pricing available) or quarterly subscription fee module on the first year.

Pay as you use Privilege: Freedom to pay as per your usage from the second year onwards.

Freedom to choose Implementation options (on-line/on-ground) and customisations as per your specific need and pay accordingly.

Expand SureSmile

For a smooth and seamless digital transition of your organization we have our best in class hassle-free support ready for your help always.

Anytime Support- 24hrsX12months in house Customer service team.

Zero Waiting- Online support request booking through Ticket System- users can directly put support request online and it is assigned to respective team.

Remote Assist- users can share the screen with the support person for any support required.

Onsite Support- our team will visit the customers site for any support related activity.

Expand User Training and external Certification.

Train the Trainer Program- Expand encourages train the trainer program where expand Biztech Experts trains one or more users and they can further train other users, this helps in building in-house expert on ERP at client site).

Online Help Document & FAQs for ready usage.

Expand SureShield

Enjoy 100% data security and grow your business to the next level with ease and complete peace of mind.

Multiple Location Storage- Data is on cloud, stored in multiple locations ensuring maximum safety.

Stored on trusted technology platform (Microsoft Azure, SQL Server).

99.9% up-time (up-time is the amount of time the service is online available and operational).

SSL (encrypted) Data Transmission- Similar technology as Net Banking and thus extremely secure.

Private Database- each user has the private database and not a shared one as in open source ERP.

“If you want something new, you have to stop doing something old.” – Peter. F. Drucker

Expand smERP offers a more effective way to manage procurement and supply of the goods, services and other resources across the chain of supply. From handling manufacturing and warehouse resources to transporting management and execution processes Expand smERP takes control of all your supply chain elements. To validate the impact of ERP on Supply Chain Management embrace Expand smERP – a world class, home grown, Indian make software for your unique needs. Contact us for more information and book a demo to see how our competent consultants take full control of your SCM.

The cost of ERP in India

Investing in Enterprise Resource Planning for your Business.

ERP- THE NEED OF THE HOUR!

It is January 2020 the onset of a new decade. With the changing times we all move forward and upgrade ourselves to the new. It is an affirmation that you are living your life and believe in growth as only dreams give birth to change. 

Like in many other fields, the global business processing is going through a renaissance where everyone speaks of automation and digitisation. An ERP streamlines daily business processing such as accounting, procurement, project management, risk management and compliance and supply chain operations. This system ties together a multitude of business activities and enables the flow of data between them.

We all know “Rome was not built in a day” and so can’t be for your business process digitisation. It involves a lot of research and strategies to make a major decision such as to choose your Enterprise Resource Planning solution provider. The most common factor that arises in our mind is the cost.

How much does it cost to implement ERP in India? 

For any business, budget and cost-effectiveness is the key to growth and success. Choosing a suitable ERP provider could make or break your organisation. The objective of this post is to guide you how to choose an ERP software that’s best fit for your budget and business type. Adopting an ERP solution is not an expense but a long time investment for your business. Investing in an ERP System is in most cases a one time decision and hence a little time spent in reviewing multiple software before making a choice is advisable.

Implementing ERP is NOT sky-high!

When implementing ERP solutions to expedite business transformation, the owner or the decision maker should have a clear insight of the needs of its business. If you are one of the entrepreneurs who have not yet created a checklist, it’s time you unwrap the implementation challenges that are unique to your business goals.

ERP solution providers like Expand smERP provide one to one consultation with customers who require in-depth knowledge regarding the software. We help businesses to understand the needs and customise the software completely according to the requirements. The authoritative members, project team members and stakeholders should be aware about the critical elements affecting an ERP implementation cost.

There are various elements that are to be considered for ERP implementation:

1. Scalability: The cost of ERP increases with the number of users who will be using it in the company.Training costs of the users is also depending on the numbers.
2. Licensing: Here, the choice is totally yours. It is not compulsory to invest in a software license outright.The ERP license can be paid by monthly subscription based model also. Depending on the budget and requirements,the ERP license may be temporary or perpetual. The maintenance agreement is charged as a percentage of the license.
3. Totally customised: Every organisation is unique and ERP implementation requires a lot of alterations and transformations which should fit into the business structure. It is best to implement a totally customised software which caters to all your organization’s unique needs.
4. Nature of Business: Depending on the type of business -small, mid-sized or large the ERP cost is determined. For micro/ small organisations the annual cost of ERP could be anything between 6000-10,000 INR, as it is mostly online and there is no investment cost involved. For mid-sized businesses (manufacturers and wholesalers), ERP implementation starts from Rs 1,20,000 a year. The large segment businesses need to consider a budget from Rs 5,00,000 onwards annually.

According to a report,only 23% of the companies implement vanilla ERP with zero customisations done.

1. Cost of Infrastructure: According to the deployment option-(on-premise or on-cloud option) the cost of infrastructure is based. For the cloud-based option cost will be low as all data will be stored on cloud and no hardware needs to be purchased. Further, the cost will be lower as less IT technicians will be employed .
2. Recurrent Cost: This varies from vendor to vendor as some solution providers charge less initially but increases the cost at renewal. On average the renewal cost of ERP is 10%-15% of the total software cost.There are always chances of upgradation charges which can vary from time to time.

SUPPORT IS THE KEY TO SUCCESS

Choosing the right ERP System for a business is not only a pricing decision. It is 80% about considering the after sales support and training abilities. Your vendor should provide training to new employees and also upgrade old ones. If you are a manufacturing business in India, Expand smERP has the advantage of Low pricing and Local support on Installation and training.

MONEY SAVED IS MONEY EARNED

Investing in an ERP for your manufacturing business can increase production efficiencies, reduces the time taken by the Customers to pay, avoids pilferage of Inventory and help you get the necessary data to make decisions quickly. Investing in the right software will increase your profitability and your ability to increase your production capacity phenomenally. With Expand smERP you can take your organisation to the next level even sooner than you imagine. If you want an accurate estimate for your project, be sure to accurately scope your project and account for some of the most overlooked costs. Our team members in Expand can help you set realistic expectations that won’t scare executives nor get you fired for causing budget overruns.

What to keep in mind while scoping your business before ERP implementation?

1. Complications of your business: It is advisable to keep an unbiased analysis of how complex your business requirements are. Many businesses need an entire ERP software solution (human resource,supply-chain,inventory etc). Companies which have lesser complexities may require only point solutions such as CRM or Finance and Accounting.

2. Change managing activities: The focus should not remain in one direction but also on business process reengineering. Any change in your business process will add to your cost on ERP at a later stage.

3. Similar business overview: We recommend comparing and considering similar organisations ERP vendors and expenses and not set a benchmark to what a particular solution provider may have set for you.

The license fee and technician costs is just one side of the coin to view before implementation of ERP. You need to consider the broader aspects to ensure your software investment delivers value.

Some tips to control costs:

1. Clear view and analysis of cost from vendor (ensure no hidden costs)

2. Develop a project plan with detailed estimates

3. Include change or unexpected costs

4. Carefully strategies and wisely judge your vendor

5. Prices can be negotiated

YOUR FRIEND IN NEED!

EXPAND ERP: FREEDOM PRICING

Expand Freedom Pricing has been created keeping your needs in mind. Our attractive pricing module gives absolute freedom to the fast growing manufacturers and exporters to take the decision of digital transition of their organisation with ease. 

• • Subscription based concept: Prices starting from INR 3300/- subscriber/month
    Freedom from all fringe costs.Subscription includes update,upgrade,service,remote support (phone support,ticket support,and screen share support), R&D and remote implementation.It also covers cloud service ,auto backup of data, data encryption all managed for you.

• • Concurrent User Advantage:
    Freedom of unlimited named user in multiple departments and amp; locations.All users in your organisation will have their own login credentials at no extra cost.

• • Freedom from Capex and Infrastructure investment so that you are at minimum risk exposure.Even for customisation it is billed only after customer satisfaction.

• • Freedom from any upfront cost.

• Easy Pay- Freedom to choose from Annual (special pricing available) or quarterly subscription fee module on the first year.
• Pay as you use Privilege: Freedom to pay as per your usage from the second year onwards.
• Freedom to choose Implementation options (on-line/on-ground) and customisations as per your specific need and pay accordingly.

LIVE LIFE STRESS FREE!

Empower your organisation with Expand smERP and enjoy real-time visibility and complete control of your business. Grow your business to the next level with ease as our software does the hard work. With Expand smERP we guarantee you a complete stress free life. 

Please leave a comment below for any further enquiries or if this article has been of any value to you. 

To book a demo call  (+91) 9007026542

 

All you Need to know About e-Invoice in GST

Stepping into the new decade with GST E-Invoice Generation System on Portal.

January 2020, embarks the implementation of electronic invoicing by the Indian taxation Council. The world is changing and so is the time and age to global digitalisation of business processes. This article aims to update you about the details of GST Governance and amendments in tax laws.

E-Invoice-What is it?

GST e-Invoice is the initiation of the digital bill for goods and services, generated at the Government GST portal. The concept of GST e-Invoice generation system has been taken into consideration for the reduction in GST evasion. All business (within the determined limit of turnover) will be provided with a system through which it will be mandatory for them to generate ‘e-Invoice’ for every sale on the Government GST portal. Every business that are applicable for such an invoice will be allotted a unique number whenever an e-invoice is generated. They can match the identification number with the invoices which are written in the sales return and paid taxes for verification. All relevant information will be transferred from this portal to the GST portal and E-Way bill portal in real-time. There will be no need  of manual data entry while filing ANX-1/GST returns as well as generation of part A of the E-Way bill, as the information is passed directly by the IRP to GST portal. In short, it is a digital bill generated using a standardised (recognised) format, where the electronic data can be shared with others.

FROM WHEN WILL E-INVOICE BE IMPLEMENTED?

The GST council chaired by Union FM Nirmala Sitharam approved the standard of E-invoice in its 37th meeting held on 20th September 2019. However no exact date of implementation has been provided yet. Electronic invoicing is proposed to be implemented from 1st January 2020 in a phased manner by GSTN. Similar to the new GST return filing system, the E-Invoicing system will first be available on a trial basis or voluntary compliance.

Team Expand is gearing up with the best-in-class ERP software to make your  business finances automated and simpler. Keeping up with the times makes you updated with the latest in technology.

By you – For you…

BUSINESSES  AT AN ADVANTAGE:

Some crucial benefits of E-Invoice are enlisted below:

1. E-Invoice determines to bridge a major gap in data reconciliation under GST to reduce mismatch and inaccuracy.

2. Interoperability is made possible as invoices created by one software can be read by another. 

3. E-Invoice enables real-time tracking of invoices prepared by the supplier along with the faster availability of input tax credit. It will also reduce input tax credit verification issues. 

4. The relevant details of the invoices would be auto-populated in the various returns, specially for generating the part A of E-Way bills. 

5. There will be minimal need of data reconciliations between the books and GST returns files. 

6. The time-taking tedious tax filing process will become automated and availability of genuine input tax credit will be faster.

7. The tax authorities will not be required for audits since the information they require is available at transaction level. 

8. Decrease in the number of frauds as generating  fake GST invoices will become impossible.

Where are you placed?

APPLICABILITY OF E-INVOICE :

E-Invoicing under GST time period with business turnover conditions :

1. Turnover 500 crore plus-voluntary and trial basis start from 1.1.2020.
2. Turnover 100 crore plus-voluntary and trial basis start from 1.2.2020.

Note: GST E-invoicing is mandatory from 1st april 2020 for the above businesses. Those with below 100 crore turnover voluntary and trial basis start from 1.4.2020.

It will be mandatory for the businesses to generate the entire GST E-Invoice including all the value of sales. Expand amERP will be fully equipped with the software to make accounting and finances more methodical and organised for your business.

How to go about it?

THE PROCEDURE:

The process of generating the GST E-invoice will be similar as the E-Way bill which is generated on the www.ewaybill.nic.in or the GST payments are done on the GSTN portal. The generation of invoices will be done by a centralised Government quarter which will replace the E-Way bill that is being generated for the movements of goods. 

1. At first, businesses need to  generate an electronic invoice on every sale on their respective ERP’s. The standard invoice format if prefixed by authorities for every business so that proper details are extracted. 

2. The E-Invoice  generated needs to be reported to the Invoice Registration portal (IRP) of GST. 

3. On the portal, the invoice reference number (IRN) will be authenticated and the invoice will be signed digitally. 

4. Then a QR code will be created. The code contains all the vital information related to the invoices which will be redirected to the taxpayer who filed the invoices.

The IRP will send a copy of the signed invoices to the provided email id of the recipient of supply who is involved in the whole process.

What do you need?

Documents required to be provided by the taxpayer while reporting the E-Invoices to IRP:

1. Supplier side invoices
2. Suppliers credit notes
3. Recipients debit notes
4. Other documents (according to the business)

SALIENT FEATURES OF E-INVOICE IN GST SYSTEM:

1. Every taxpayer will be allotted a unique IRN. The unique IRN will be based on the computation of hash of GSTIN of generator of document (invoice or credit note etc.) year and document number like invoice number. This hash will always be the same irrespective of the registrar who processes it. This hash will be the IRN.

2. Once the invoice data is uploaded on the IRP which will also generate the hash in order to verify it and then it will be digitally signed with the private key of the IRP. 

3. IRP will also generate a QR code containing the unique IRN along with some important features of invoice and digital signature so that it can be verified on the central portal as well as by an offline app. This will be useful for tax officers checking the invoice on the go where the internet will not be available.  

4. It will be easy for anyone to download the invoice from the offline app provided in the IRP and authenticate the QR code of the invoice offline and its basic details. However to see the whole invoice , one will have to connect to the portal and verify and see the details online. Only tax officers will be authorised to download the entire details of any invoice.

STANDARDISATION OF INVOICE:-

A technical group constituted by the GST council secretarial has drafted standards for E-Invoice after having industry consultation.  The E-Invoice schema and template, as approved by the GST council, are available at www.gstn.org/e-invoice.

Ways to adopt E-invoice:

DIFFERENT MODES OF COMMUNICATING:

There are multiple modes made available so that taxpayers can use at his or her convenience. For example

1. Web based
2. API based
3. SMS based
4. Mobile app based
5. Offline tool based
6. GSP based

How to use?

SOFTWARES TO BE USED:

The GSTN, in partnership with the ICAI (institute of chartered accountants of india), has drafted an E-Invoice standard. This refers to PEPPOL(Pan European Public Procurement Online), which is based on the UBL (universal business language) standard. Certain features which are made mandatory under the GST law have also been marked as mandatory fields in the invoice draft. 

Countries that are already using E-Invoice in GST are South Korea, Brazil, Chile, Mexico, Canada, Norway, Sweden, Turkey, Italy, Denmark, Peru etc.

Some Pointers to remember:

1. The maximum number of line items allowed per e-invoice is 100.

2. It is not mandatory for a supplier to sign the e-invoice again.The IRP will digitally sign after validation.

3. On the IRP,the data will be available only for 24 hours.

4. An e-invoice cannot be cancelled partially, it has to be cancelled fully.

5. All amendments to an e-invoice can be made only on the GST Portal.

E-INVOICING In GST with EXPAND smERP:

Move with the times and adopt Expand smERP software to automate your business process and invoicing. We have ready-to-fit solutions with deep industry knowledge which can be further customized as per your business needs.

Expand smERP is the preferred business automation solution provider for 15 years to various industries. We provide personalised attention and automation that is best-fit for your export and manufacturing business.

With the arrival of Cloud technology, ERP software is taken to the next level where business can be processed anytime from anywhere. Expand smERP is a pioneer in cloud-based Business Application on Microsoft Azure, designed and developed for fast growing businesses. Over the past 15 years, we have empowered many established businesses with real-time visibility and complete control over their businesses. Expand is a comprehensible, scalable, customizable cloud ERP solution that supports your business all along as it grows.

Team Expand works relentlessly on innovations and believes in keeping your business at par with the latest in technology and business affairs. We will be pleased to partner with you at the very onset of E-Invoicing in GST system beginning from the next Financial Year. 

To know more call +91 9007026542