e-Invoicing is the buzzword in the market ever since it was announced. Quite soon it is going to be uniform compliance for all registered persons as the GST Authorities intend to extend it to all registered persons. There are many players in the market offering various solutions for e-Invoicing as we do ours. In this article let us explain in detail the reasons why one should choose WeP e-Invoice solution. But it seems to be a more positive approach to quote the merits of our solution instead of drawing a comparison.
e-Invoicing is a GST compliance requirement, wherein any entity whose turnover exceeds 50 crores has to report their taxable invoices and credit/debit notes in Invoice Registration Portal (IRP) and obtain a unique Invoice Reference Number (IRN).
Basically, e-Invoices can be generated in 3 different modes:
1. Offline tool
2. GSP API
3. ASP API
Under ASP API methodology, data can be transmitted to ASP in two ways. The first one is the front-end invoice upload process. Secondly by direct integration with the customer ERP for a real-time e-Invoice generation. Generally, entities with more turnover and high volume of transactions, choose the second option as they wish e-Invoice generation to be a parallel process rather than an additional process. Otherwise, drawbacks are as follows:-
a. Wastage of resources and time
b. Delay in compliances
c. Disruption of regular operations due to e-way bill compliances and so on
d. Adversely affects the credibility and reputation in the eyes of customers
e. Working capital issues
f. Other regulatory issues
On the other hand, direct integration might not be a feasible proposition for smaller entities due to heavy investment, advanced technology, and resources involved. Most of the small entities who are already using some standard accounting softwares are getting e-invoice as an add-on feature either free of cost or with some minimum additional fee. But for the remaining smaller entities it will be a tough challenge to make both ends meet. Keeping all the above aspects in mind, WeP has designed premium solutions for both large and small entities.
Quality is the cardinal principle of the WeP e-Invoicing solution. But the term quality just gives a helicopter view. Hence let us get into the micro level to understand the various parameters used to gauge the quality and how WeP stands committed to outperform in attaining all such benchmarks.
Why should one choose the WeP e-Invoicing solution?
- Utility and user-friendliness: The WeP e-Invoicing solution has two different offerings:
Firstly- ERP integration which enables seamless flow of invoice data accounted in the books of accounts, for e-invoice generation without manual intervention.
Secondly-ASP in which data can be uploaded and then saved to IRP for generation of e-Invoice. The software very well meets the purpose of generation of e-Invoices in 3 simple steps:-
- Data preparation in the template
- Validation and upload
- Generation of IRN
One can easily view, download, and print e-Invoice from the ASP platform and get various useful MIS reports.
The major highlight of WeP e-Invoicing solution is user-friendliness. The simple user interface, comprehensive dashboards, easy navigation of menus, simple template with detailed attribute list and instructions for use, simple error rectification process are our major plus points.
- Performance and scalability
WeP e-Invoicing solution is highly robust with respect to its design and architecture to accommodate and take a load of lakhs of transactions in a single go without compromising on the performance in terms of speed, accuracy, and responsiveness. A dedicated team takes care of the fine-tuning required to moderate and handle the varying volumes of data traffic. Also, an exception handling mechanism is devised.
- Availability, flexibility, and maintainability
On subscription, one can create the login and activate the required number of users. Immediately the e-Invoicing solution is up for usage with 100% of features committed. Organizations can create their own workflow and segregate the duties with the help of a user management module as per their requirements. As WeP e-Invoicing solution is cloud-based solution maintainability and portability is inherent, simple, and easy. All changes announced in the relevant rules and regulations are given effect in the major functionalities without being exorbitant and affecting the client’s operations. Hence WeP e-Invoicing solution is flexible too.
- Security
WeP ASP has a policy of “No compromise on security standards”. Besides holding a Government-certified GSP license, WeP uses AES 256 bit encryption for data security. WeP has a rigorous information security process and personnel policies to meet our aim of delivering 100% safe and secure solutions to our customers. Hence the customers do not have to worry about the security and integrity of their data either during transit or storage. In addition, the WeP cloud infra has been audited by 3rd party auditor appointed by GSTIN.
- Affordability, attractiveness, and support
The pricing of the WeP e-Invoicing solution was so meticulously done as the motto was to make it a pocket-friendly solution for all businesses. Hence anyone can subscribe to WeP e-Invoicing solution at a very competitive price. Apart from that attractive discounts and referral offers are also provided for the benefit of our customers. To make our customers experience the benefit of our e-Invoicing solution, initial free trial periods are also provided. Wherein customer can get hands-on experience, compare with other market players services, and finally take a rational decision to subscribe or not.
The support system is something that every prudent buyer looks for as it makes them easily sail through during the initial ordeal. Our support team is the backbone of our services, who put their heart and soul to deliver the best experience of the solution. Complete demonstration of the solution, regular training to the
users, and product/features updated training are part of their services. The intense support during the handholding period gradually becomes an on-demand service once the customer becomes comfortable with the usage. Also as an aid, we have user guides, manuals, and videos for quick reference and ease of operation.
To address grievances effectively, a one-click ticket raising mechanism is set up in the solution itself. Through which customers can report any issue faced and in no time the dedicated support personnel will get in touch with them to understand and resolve the issue.
Considering all the above-said points, one can say that WeP e-Invoicing solution is one of the best solutions in the market and a boon to all those who are looking for a top-quality, pocket-friendly e-Invoicing solution.