With E-invoicing on the horizon, the backward integration for Purchase Entries would be the next big thing in the tax technology space. Cygnet’s API integrates with the buyer’s ERP and sends a flag when the vendor uploads the invoices on the GST portal.
Cygnet recommends implementing automation in the tax tech space because it makes compliances smoother and easier. With the help of this automation, you can record the entire purchase invoices data without any manual intervention which reduces the time and cost. This further shall help in reconciling the e-invoice, E-way bill, and GST data as any data mismatch could result in notices being issued. Similarly, with several technology solutions, Cygnet simplifies the tax compliances for its clients be it for any industry.
You can also read our blog “Simplify Your Purchase Cycle Post E-invoicing- Part A” which will give you an understanding of how technology helps in simplifying the purchase journey post-E-Invoicing for buyers.