“Advanced BPM software such as VCA is designed to offer a robust finance and accounting solution to SMEs as well as Large Enterprises across the world.”
Governments in the various countries of the world are finding measures to generate income for the state. And, the Value-Added Tax (VAT) is one of the best way to do the same. With this, it is time for companies to work as a perfect government agent, which can collect the VAT on their behalf. The VCA business accounting software is meant to help both SMEs as well as Large Enterprises in an accurate and timely bookkeeping.
With the Value-Added Tax (VAT) being increasingly implemented by the states across the world, companies are now forced to maintain the entire business accounting record. This can be challenging because many of the world countries gives the liberty to run businesses in low-tax environment. And suddenly, when things such as VAT is implemented, it certainly becomes a matter of concern for businesses.
And therefore, it becomes imperative for businesses to start the VAT management preparation in its early stage of implementation. Because unmanaged data and unorganized business finance can make things complex at a later stage.
ERP Software Provides Technology Solutions to Business Problems
Technologies are evolving rapidly. And much of the tedious business tasks, which have for long been performed by the human workforce, is now being automated with the implementation of ERP (Enterprise Resource Planning) Softwares.
ERP software reduces dependence on the human workforce and ensures enhanced efficiency and accuracy in entire business tasks pertaining to diverse processes, including the finance.
Value Creation Automation (VCA) Financial Solution is one such process management software, which can be of significant help to businesses all over the world. With streamlined finance process, enhanced visibility, ready reports, and statements, Owners and Directors can get tasks done in comparatively less time and with utmost accuracy. And thus, VCA Finance Solution can significantly help businesses in keeping ready for all sorts of tax compilation activities.
The experts at Cordis Technology have developed VCA aiming to make time-consuming processes such as finance flawless, accurate and efficient. Designed to converge innovating technologies and proven business models with the human intelligence, VCA implements a robust approach, which enables companies in winning the confidence of all the stakeholders within and outside the organization. With this, VCA Finance Software can ensure a long-term and a consistent growth for businesses worldwide.
What is VAT? Its diverse aspects, and impact on businesses.
Prior to discussing VCA Finance Software and its features, which can help businesses to become VAT compliant, it is important to understand VAT, its diverse aspects and also impacts on businesses.
A certain amount of consumption tax, which is levied at every different stage when the value is added to goods and services being sold or bought. Businesses offering goods and services will collect the tax from buyers and will pay it to the government.
How can VCA finance software help businesses in adapting to the new tax environment?
Not complying with the VAT, can significantly impact to the overall business performance. To remain free from the problems such as penalties by the government, it would be a wise decision for the companies to implement an accounting software such as Value Creation Automation (VCA) Finance.
Let’s discuss, why businesses should implement VCA to become a VAT compliant company.
- Designed to Record and Report Transactions in the Real-Time
VCA Finance software consists of a visual dashboard, which does not let any transaction go unrecorded. Even more, this automated system also reports the effect of transactions on business leaders in the real-time. Owners, Directors and other authorized employees can log-in through their mobile phones and tablets to have instant access to entire data pertaining to the business finance process, anywhere and anytime.
VCA’s visual dashboard, powered by Software-as-as-Service (SaaS), displays entire transaction details and allows instant access to entire data to Directors, Managers and employees at the same time, as per their designated role. It allows business leaders to better scrutinize and control tasks and activities even when traveling.
With its ability to record and report transactions in the real-time, VCA Finance keeps the ledger books updated, which further helps in ready-access to financial statements and reports anytime and anywhere. With this, they can easily win the confidence of tax authorities and can also make effective business decisions. A robust and transparent finance, on the other hand, also supports companies in gaining the long-term loyalty and trust of customers, suppliers, creditors, investors and also employees and Managers. And, this plays a key role in the driving overall business performance.
- Offers Cloud-based Solution and Is Based on SaaS Business Model
Based on Software-as-a-Service (SaaS) delivery model, VCA offers cloud-based solutions and both these features support companies in reducing operational costs to a great extent. Various financial data, statements, and reports are saved in the cloud, which allows instant access and customization anytime and anywhere, besides ensuring complete protection.
Especially SaaS makes VCA Finance equally apt for small businesses as well. It requires almost no capital and significantly adds to the flexibility, reliability, and agility of small businesses.
However, offering cloud-based solutions, VCA allows finance executives to perform diverse financial tasks even on the go. They can receive payments from customers, generate VAT compliant invoices to customer and suppliers, can update ledger books and many more, even from their mobile phones and tablets. VCA Finance software means non-stop business performance. It makes businesses available for customers round the clock and thus helps in enhanced revenue generation.
- Designed to Automate Day-to-Day Financial Tasks
With VCA Finance Software businesses can accurately perform diverse tasks that can ensure compliance, while making them prepared to perform according to the new tax policy of the government. VCA automates day-to-day tasks and therefore, helps companies in managing diverse accounting tasks without any complexities. VCA Finance updates ledger books, support for managing the accounts payables and receivables or cash inflow and outflow, offer live financial feeds and even payments routed through banks can be well tracked.
Therefore, with VCA companies can efficiently perform as a ‘tax collecting agent’ of the government. Calculations are no more stressful and VAT compilations become painstaking – such is the magic of Value Creation Automation (VCA).
With accounting software such as VCA Finance eliminates the need to maintaining ledger books on paper or on Excel or Google spreadsheets. Manual dependence is sharply reduced and thus thousands of calculations can be quickly performed and that too with utmost accuracy. VCA leaves no room for mistakes. And most importantly, with VCA employees do not have to spend sleepless nights for performing unrelenting tasks such as auditing and preparing for tax compilations.
Why should businesses soon take steps and implement measures to become VAT compliant at the earliest?
With the implementation of Value-Added Tax (VAT) largely taking place in the various countries worldwide, diverse business areas such as cash inflow and outflow, pricing, financial process management, supply chain, auditing, and taxation will get impacted. And moreover, it would be a time-taking process for the businesses to shift to this new business environment. And, it is only an advanced accounting software such as Value Creation Automation (VCA) Finance that can enable the smooth transition of businesses from a low tax-environment to be a VAT compliant company.
Although VAT is a burden on end-users of goods and services, businesses get significantly affected by such government decisions. Being collecting agents of tax for the government, businesses need to efficiently manage diverse financial tasks and activities to establish a smooth workflow. Accounting solutions such as VCA Finance enables SMEs as well as Large Enterprises in performing efficiently according to the norms, regulations, policies, and protocols within and outside the organization. Keeping such factors in mind, timely implementation of an ERP software such as VCA Finance can support companies in adapting to the new tax environment without any complexities. This can enable companies in playing an imperative role in the economic growth of countries and add to the GDP as well.