5 Best Tools to Help Startups Automate Compliance, IT News, AND CIOs

The success of a startup depends on the viability of the idea and error-free operational execution. So it’s even more important for startups to choose partners that ensure smooth business operations, even if they are focused on building the core. Clear (née ClearTax) is a partner of choice for business compliance technology tools. It has a tax software platform for businesses of all sizes, helping them report GST, automate invoice creation, and also manage TDS, electronic invoices, input tax credit, between others. The company’s tools ensure maximum tax savings, unparalleled speed and total security.

Here are some essential products for smooth commercial navigation:

Clear electronic invoicing:

The electronic invoicing product can be seamlessly integrated with any ERP to deliver bulk invoices in seconds. It is highly scalable, allowing processing of hundreds of thousands of invoices. Some of the other features include built-in validations, smart analytics, printing custom models, and bulk upload. It processes around 10% of India’s B2B invoices with a business value of over $ 300 billion annually. Dunzo, Livspace and Grofers are some of the best tech startups that have subscribed to Clear e-Invoicing.

Clear MaxITC:

MaxITC is an end-to-end automated solution to efficiently manage input tax credit claims. MaxITC’s systems extract data directly from the ERP, schedule automatic reconciliations, and automatically synchronize payment decisions for each invoice. Its industry-leading AI-based configurable PAN-level match compares 60,000 invoices per minute and initiates matches between GSTINs and PAN. It also leverages gamification to improve vendor behavior, rewards quick deposit, penalizes delays, and sets vendor payment terms based on their ITC behavior. Byjus and Pine Labs are among the early users of Clear MaxITC.

Clear the GST:

ClearGST is a cloud-based all-in-one GST toolkit that simplifies the GST filing experience with automated error-free ingestion to intelligent reports. The platform uses APIs to download and run filing workflows seamlessly from ERP systems. It uses secure file transfer methods to place documents on servers and get scheduled downloads automatically. The platform can also import data with connectors or custom Excel-based models. Ola, Saavn, and Ecom Express are among the startups that have adopted Clear GST for GST filing.

Delete the electronic invoice:

Clear’s Electronic Invoice Solution is a full stack ASP-GSP platform that enables electronic invoicing to be generated regardless of scale or ERP platform used. It offers a faster and error-free personalization experience ensuring access to a fully integrated suite, connections to GST modules and electronic invoicing. Last year, Clear generated over 10 million electronic invoices. He automated the generation of electronic invoices for Ather Energy, Card24, Meesho, among others.

Clear TDS:

It is the leading online cloud-based e-TDS solution in India that allows filling out TDS declarations and generating 16 forms online. The software matches the PANs with those of the TRACE records, in bulk or one at a time, and generates utilities from the IT portal within the product. It identifies bad PANs and name mismatches using the built-in PAN validation function. It also automatically associates challans with deductions, identifies unused challans and uses them appropriately. Other features of the platform include the simultaneous processing of multiple returns, preset alerts on unused challans and early warning systems on late payments.

Clear is trusted by a million small businesses and 3,000 large corporations. Last year, FinTech saved over 1,000 crore for over 4 million businesses with its solutions.

The company aims to serve more than 10,000 large businesses and 10 million small businesses over the next two years.

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