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“Success in business requires training and discipline and hard work. But if you’re not frightened by these things, the opportunities are just as great today as they ever were.” – David Rockefeller
Small and Medium Enterprises (SMEs) form the backbone of any economy. They not only provide employment to a large population but also contribute significantly to the country’s GDP.
However, the road to success for these businesses is often hindered by various challenges, one of which is GST compliance with government regulations, particularly GST.
To address the GST compliance challenge of business, Vayana has partnered with IRIS Business Services, a leader in regulatory technology solutions.
Vayana and IRIS Launch Mobile App for MSME Finance Management and GST Compliance Services
The partnership between Vayana and IRIS aims to provide a one-stop solution for MSMEs to manage their finances and meet cash, commerce, compliance, and credit requirements through a mobile application.
The solution, IRIS Peridot Plus, will help small businesses manage their finances better and also provide a reliable solution for businesses to comply with GST regulations.
IRIS and Vayana Partner for Business Solutions
IRIS Business Services is a SaaS company that provides technology solutions and services in the regulatory technology space across 50 countries globally.
It also offers software to enterprises that enable them to meet GST compliance as well as invoicing-related work.
Vayana is one of India’s largest Supply Chain Finance platforms and has enabled finance of more than $14 billion to over 2 lakh MSMEs for 1000+ supply chains catering to 25 different sectors.
The partnership aims to bring together the strengths of both companies, IRIS’s compliance expertise and Hylobiz’s ability to offer affordable credit and cash management solutions.
This will make IRIS Peridot Plus a reliable solution for businesses and help MSMEs ease their GST compliance burden and meet other financial needs.
Let’s Hear from the Founders about GST Compliance
Commenting on the partnership with Vayana, Mr K. Balachandran, Co-Founder and Director of IRIS said, “At IRIS, we are committed to supporting businesses and regulators globally in their efforts to streamline regulatory compliance reporting.
Our expertise and market leadership in India, particularly in e-invoicing and GST filing, positions us well to address the needs of taxpayers.”
Ram Iyer, Founder & CEO of Vayana said, “Vayana is the largest supply chain finance (SCF) platform in India.
Our SCF solutions cater to the 4Cs essential for any business – credit, cash flow, compliance, and commerce.
With the government’s efforts to formalize the economy by bringing in the smallest of businesses into the e-invoice ambit, we see the impact we can make for tens of millions of SMEs by helping them grow through timely access to working capital.”
“Together We Can Make a Difference”
The one-stop solution – IRIS Peridot Plus – will make it easier for MSMEs to manage their finances and meet their GST compliance requirements.
It will provide them with a comprehensive solution that covers everything from managing cash flow, and ensuring compliance with regulations, to accessing affordable credit.
With the government’s efforts to formalize the economy by bringing in even the smallest of businesses into the e-invoice ambit, this partnership can have a significant impact on tens of millions of SMEs by helping them grow through timely access to working capital.
“The Best Way to Predict the Future is to Create it” – Abraham Lincoln.
Vayana and IRIS are creating a better future for MSMEs by making it easier for them to manage their finances, meet their GST compliance requirements, and grow their businesses.
The IRIS Peridot Plus mobile app is a powerful tool that can help MSMEs overcome their financial challenges and reach new heights.
Revolutionizing MSME Finance
MSMEs face numerous challenges in their journey towards success, but with the help of Hylobiz and IRIS, they can continue to strive for success with confidence.
The IRIS Peridot Plus mobile app will provide MSMEs with the tools and support they need to overcome their challenges and achieve their goals.
In conclusion, the partnership between Vayana and IRIS Business Services has the potential to revolutionize the financial landscape for MSMEs in India.
With the combined expertise of both companies, small businesses can now manage their finances more effectively and meet all their financial requirements through a one-stop solution, IRIS Peridot Plus.
The app will help in streamlining the GST compliance reporting process and provide MSMEs with timely access to working capital.
About Hylobiz
Hylobiz is a Vayana group fintech platform that provides digital payment and invoicing solutions for small and medium-sized businesses.
It enables businesses to automate their payment processes, manage their cash flow, and improve their financial management.
Hylobiz offers features such as payment reminders, payment tracking, and real-time payment updates. The platform is designed to be user-friendly, secure, and affordable pricing for businesses of all sizes.
Hylobiz is a useful tool for businesses looking to streamline their payment processes and improve their financial management click here to start.
Read how to get compliance-ready with Hylobiz: https://hylo.biz/create-e-invoice-and-e-way-bill-within-4-steps/
Read more of our blogs at: https://hylo.biz/blogs/
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