Millennials and ERP: The New Hit Duo

Millennials are the first generation of workers and businessmen raised in the globalised world. Their approach towards doing things is completely different from that of the previous generations. This generation is inherently dependent on electronic communication such as the internet for various purposes. They believe in minimising the time involved in work and aim to increase efficiency and productivity to do any given task. That is why they look for software such as ERP for managing their work ...

Cognitive Computing: Is it the Future of Your Business?

In today's data-driven economy, all industries are expected to pursue advanced analytics and cognitive computing to stay competitive and drive revenues. Most people fail to realise that cognitive computing is basically intelligent computing that relies majorly on automation and integrated process. It saves a lot of time and human effort required in data collection and processing. Some of the features of cognitive computing have been discussed here:

  • Cognitive computing helps in the b...

Is ERP System Causing a Dent in Your Business?

Enterprise Resource Planning (ERP) systems have emerged as viable solutions for managing business resources with an integrated approach. The ERP software allow the automation of the activities of a department by making the information available to users whenever required, supporting their decision-making needs accurately. However, the implementation of these generic ERP systems has brought considerable benefits to the businesses, they do not cover all the processes from each industry. Many organ...

Why Any Business Needs a Good Inventory and Accounting Software

With increasing competition and demand in the market, tyre trading companies, retailers, and service providers are looking out for ways and tools to streamline their operations and consequently, speed up the sales and distribution process. Tyre ERP is a complete solution for such niche management needs of the industry. The inventory and accounting software such as Tyre ERP have been designed after a comprehensive research of the industry with the help of experts from all across the world to f...

Beware! After GST Choosing the Wrong Vendor can Kill Your Business

The introduction of the Goods and Services Tax (GST) has brought a plethora of changes in India’s tax regime. GST is supposed to simplify the trade and commerce in India, allowing supply chains to be integrated. It also offers greater transparency in various processes. The Goods and Services Tax Network (GSTN) is a common database that has brought together the whole system in which businesses function. It is also closely connected with the customs, banking channels, income tax, etc. Post GS...

GST Return Dates for August and September’17

With the introduction of the Goods and Services Tax (GST), various industries have witnessed a huge change and tyre industry is not an exception. Talking about ERP systems, many changes were made in the basic structure to calculate taxes and make the implementation of GST easy for the tyre industry. The reform brought in by GST in the industry is anticipated to be good. GST has also brought transparency and clarity to the tyre industry that was lacking in the past. It has brought major and minor...

How to Claim Transitional ITC in GSTR-3B

Transitional ITC (Input Tax Credit) refers to the tax that is carried over after the closing of your financial books for a specific year. The tax needs to be submitted in the July-August period. This tax is a part of the Goods and Services Tax (GST) and failure to pay Transitional ITC leads to a heavy penalty. To claim this tax, a company has to submit Form GSTR-3B to be eligible for a tax break within 90 days from 1st July.

Claiming Transitional ITC

Businesses need to file form Tra...