Vyapar Tech Solutions: Redefining Business Accounting For SMES

CIO Vendor The recent introduction of Goods and Services Tax (GST) acts as a large umbrella unifying manufacturers, service providers and traders across India. This bold move has led towards eliminating the tedious array of taxes previously imposed. However, at present, small business owners are struggling with the transition from the previous tax regime to carrying forward the input credits into GST without much assistance from the government itself. Businesses are turning towards accounting softwares to help them seamlessly manage business transactions and achieve GST compliance.

With the transition phase being at such an early stage, there is still some ambiguity with the various provisions of GST clubbed with the adherence towards increased compliance and general lack of knowledge in accounting. Catering to the niche audience of small business owners, Vyapar Tech Solutions situated in Bangalore offers Vyapar, a novel end-to-end solution, with complete GST compatibility, assisting businesses to create GST invoices, and helps in GST return filing process.

Taking it a notch up, the company understands that businesses encounter the challenge of updating themselves with GST subject knowledge and thus Vyapar provides valuable information about GST through the company blogs and customer care assistance. In addition to this, the company connects the required personnel to CAs to adapt as fast as possible. In conjunction with this, the company also offers the GST return reports in the right format needed to return filing and help file the returns as well; putting an end to the arduous process. In essence, India being such a diverse country, has a gamut of businesses each with their unique requirements and formats. The highly customizable Vyapar app has been specifically developed for the Indian market. “We have designed it in such a way that any functionality inside the app can be switched on or off and changed based on the business need. This helps us to cater to a wide variety of businesses,” reveals Sumit Agarwal, founder of Vyapar Tech Solutions.

Focusing on Experience Design and Usability
Basically, the company addresses the entire spectrum of business accounting needs. Sumit confirms, “We completely aim at solving all the business accounting needs of small business owners at the lowest cost possible.” Vyapar is a mobile ready, easy-to-use app and is offered as a desktop app as well, though the company’s key strength continues to be the mobile app. This serves the user’s purpose of conducting business anytime, anywhere.
The company’s customer base ranges from businesses with a bare minimum literacy to highly educated people. To ensure no hassles, the company engineered the solution from scratch with the mindset that any businessman with no accounting knowledge should be able to efficiently manage the business without facing any hurdles.

Sumit elaborates how Vyapar is a simple business accounting app. With simplicity being the key to its success, the app makes all business processes effortless and manageable including sales, purchases, receivables, payables, inventory management, GST invoicing, printing and GST return filing, all on a single platform. The invoices generated can then be shared via whatsapp, email and other mediums. This feature-rich app has the reminder functionality for pending payments so that businesses can conduct follow-ups and get paid much sooner. “It is designed to help businesses manage all the day-to-day transactional work on the app in a very fast and hassle free manner,” adds Sumit.

We completely aim at solving all the business accounting needs of small business owners at the lowest cost possible

Another concern businesses have is handling the influx of mammoth volumes of data that need to be backed up whilst ensuring secure access. Always a step ahead, Vyapar comes with backup mechanisms to have the data backed up on email, phone’s local disk or any other cloud location like Dropbox or Google drive. This enables the users to keep the data safe and secure on their personal accounts with a reminder option to take backup regularly. Vyapar also provides the option of automatic backup on the user’s Google drive which when activated, the backup is periodically taken by the application without any manual intervention. Eliminating users’ inhibitions towards storing their financial data on an application server, the company has designed an offline application which facilitates the user with the flexibility to take complete control of the data.

Already making headway in the business accounting space, the company envisions adding value to customer’s business using other solutions like payments, simple CRM, SMS facilities, employee management and the likes. As Vyapar continues to cater to SMEs, Sumit reveals that the company intends to venture into the online solutions segment with online and offline capabilities guaranteed to be a notch up from any existing players in the market. Diligently working towards maintaining a strong foothold in this domain, Vyapar envisages being one of the leading players in the market for Business accounting space in the next five years.