Cygnet TRACE

Tax Reporting Automation & Compliance with Ease

TRACE is Cygnet’s sophisticated implementation process that tailors a solution for automating the end to end record to report workflow. TRACE builds a bridge between the source systems such as ERP / accounting systems which house the tax data on the one hand and on the other hand, the government tax portal which demands the tax returns to be filed in a particular format.

We Love Lego Blocks

Connecting the source systems to the government tax portal through the process of data extraction, validation, reconciliation and filing returns requires an architecture that is modular and flexible. Cygnet TRACE uses a number of building blocks which it assembles in the right configuration to meet the unique scenario at a client’s place. We love to call the components the Lego Building Blocks of our solution architecture

Ready connectors to extract data from existing ERP systems
Data mapping, massaging and sync
Document Generation and PDF Signing
Accounting and Invoice Management
Rule engine, Reconciliation engine, Form filling engine
Return Filing Engine, Report Engine and Audit trail

Data Extraction Connectors

We have built connectors to extract data from ERP systems such as SAP and Oracle and Banking systems such as Finacle

Data Lake

Structured and unstructured data is collected in a data lake for further processing. We use various ETL processes to achieve this

SAP PI/PO

When required, we use the SAP PI/PO process to integrate with the SAP source system and extract tax data

Data Mapper

We use a data mapper program to map source data fields to fields of our solution to prepare for data transfer

Data Massager

This program converts data from different source formats into a standard destination format compliant with GST

Invoicing Utility

This utility helps users to create invoices which are not created in the source systems but are required by GST

Digital Signing

With an integrated digital signing solution, users can sign all invoices they create with their digital signature in bulk

Accounting & Invoice Mgmt

This solution synchronizes the new invoices created by the system back by passing journal entries to the source accounting system

Data Sync Utility

This utility transfers all invoices data collected from source systems into the ASP solution for preparation for filing

Error Reporting

The Data Sync Utility filters our invoices with errors and places them in a OUT folder for further corrections.

ASP Solution

Once data is in the ASP solution, it undergoes the routine validations and reconciliations that precede the filing process

E-way Bill

Cygnet TRACE works in the same manner with E-way Bills by extracting invoice data from source systems

Case Studies

Case Study - Private Bank

In this case study, learn how Cygnet automated the GST returns filing process for a large private bank. Read More.

Case Study - Retail Giant

This case study demonstrates how Cygnet GSP helped a retail company to automate its GST Returns filing process. Read More.