February 2018 - Intech

Role of ERP with GSP and ASP in the new GST regime

Posted on February 22, 2018August 2, 2022 by Intech Systems

GST is aimed at automatizing the taxation structure in India. GST seeks to establish a uniform interface for the taxpayer and a shared IT infrastructure between the center and states. With a view to make this process smooth, the center has set up an IT platform provider i.e., GSTN.
To meet the regulatory requirements under GST, tax automation is highly required. If not, the sync between your system and the GST Network (GSTN) system will be very difficult. In this situation, GST Suvidha Provider (GSP) and Application Service providers (ASP) are the significant players in the success of the tax regime.

What is GSP (GST Suvidha Provider)?

A GSP is the enabler for the taxpayer to comply with the provisions of GST law through an online platform. There are 34 GSPs in India, and are authorized by the Government. You can file your returns through GSP.

What is ASP (Application Suvidha Provider)?

You can file your GST taxes with the help of ASP partners or existing software. ASPs can develop an application to provide GST filing facility in the existing software or an end- to-end solution for the taxpayers. Through ASPs, you must share the detailed data of your sales/purchase of goods and services. ASP provider will then prepare the GST returns and file them through GSP.

The process

Thus, GSPs and ASPs work as a support system for taxpayers in the GST regime. GSP’s support is limited to providing improved access to the G2B portal. ASPs directly address most taxpayer compliance difficulties. In short, ASPs acts as a link between the taxpayers and the GSPs.
Some GSPs might also offer the services provided by ASPs and provide customized solutions to many organizations. This provides combined GSP and ASP support. By the way, whether you go for the direct access to G2B portal or choose GSP services, a provision is made in the IT ecosystem under GST for the taxpayer to have complete control, security, and privacy while interacting with the GST system.

How Microsoft Dynamics ERP can help?

Microsoft dynamics ERP with GSP and ASP helps you in making this tax filing process simpler and better. As you have all the data in one system, this saves your time in uploading the required documents on the ASP/GSP portal.
Intech, with Cygnet GSP, helps you in further automating the taxation process. For more details, contact us on 079 66118960 or send an email on sales@intech-systems.com

5 ways to implement best practices of Data Analytics

Posted on February 13, 2018August 2, 2022 by Intech Systems

According to a research, companies using analytics for decision making are 6% more profitable than those that don’t. Companies now want to be proactive and predictive. They don’t want to pile up data but use it in the form of analysis and interpretation. Companies are now understanding the importance of data analytics. They want to use their data to unleash actionable insights that will help them grow their businesses. But you can’t just input data into a business intelligence tool and expect remarkable results.
You may be comfortable in creating tables and charts to present your visuals but data analytics is more than that. Whether you are analysing the data for marketing segmentation, demand forecasting, or any other purpose, you need to follow the best practices to ensure that you get in-depth data-driven results.

1. Choose the key metrics

There are numerous metrics available in an analytical tool but every business has different requirements. Not all the metrics are useful for your business. So, before starting data analysis, it’s important to decide on the metrics that are meaningful to your business. For instance, if you’re analysing your advertising spends and customer data to know the ROI of marketing spend, conversion rates and sales data are very valuable.

Eliminating inessential data will simplify your task and provide you with the better results. Ask yourself these questions when assessing which metrics to focus on:

Why have you collected the data?
Will this data help you in achieving business goals? How?

2. Avoid common data modelling mistakes

If data is not modelled correctly, you will not get the output you want. To get the effective insights from your data, make sure avoid common data modelling errors. In analysis, even a small source of data can be important. Ignoring them, applying poor naming standards, not knowing which metrics to use, etc. are the small errors you need to evade. If you don’t, your data models would be rather confusing than helpful. Make up your mind what you expect from that data, especially when merging data from numerous sources.

3. Create relevant dashboards

Dashboards help you to interact with your data even if you don’t have technical know-how. But just making fancy visualizations and dashboards should not be the priority. Rather they should be helpful to all those who rely on the data and seek in-depth outputs. Showing complex analytics is a challenge as you need to decide upon the type of dashboard, its design and the metrics to include. But proper planning and practice will help you in creating relevant, logical and yet simplified dashboards.

4. Choose the Correct Tool

There are many BI tools available in the market. They might all seem similar but they vary from one another in many ways. Their framework, specialities, functionalities, visualizations, industry focus, etc. differ. Look for a solution that matches your needs and can handle even the most complex data while still providing clear insights understandable by non-technical users.

Choose an all-in-one tool that helps you in data analysis, visualization, sharing and accessing the data from anywhere, any device.

5. Select the right visual for your purpose

You might choose the right analytics tool but what if you don’t choose a proper visual? You will not be able to analyse the data and get the right information. There is a reason why there are so many types of visuals available. Every chart or visual has its own speciality. Choose what works best for the data type on hand. For instance, line charts track changes or trends over time and show the relationship between two or more variables while bar charts compare quantities of various categories.
With more and more businesses relying on data analytics tool for decision making, it is important that they do it the right way. By implementing a data analytics tool and its best practices, you can streamline your business processes.
Get in touch with Intech for more information on data analytics.

7 problems that a Business Intelligence tool can help you resolve

Posted on February 3, 2018August 2, 2022 by Intech Systems

Every day managers take critical decisions based on the information available. With advancement in technology and customer expectations, businesses must remain on their toes. To ensure that they have a competitive edge, they should rely more on technology and less on manual tasks. This is where business intelligence tools come to rescue. BI tools rid you of Excel and Spreadsheets.
Every business has to pay attention to clients, markets, sales, operations and investments while keeping in mind the ROI. This means more data and a lot of hustle. This much data can mean trash if you can’t analyze or forecast or do anything fruitful with it. BI helps you gather, analyze and leverage a variety of data to gain a competitive edge and increase its prominence. Be it a small business or a large one, BI has something for all in its bag.

Here are the 7 main problems that a Business Intelligence tool can help you resolve:

More data, less information

Information is, in layman’s terms, processed data. Businesses have various sources and types of data on hand. If you can’t take that data to use, you will just fling the arrows in dark. You will never hit the target. With Business Intelligence solution, you get the most out of your data and that too in the form of charts and graphs. Data analysis and reporting gives you the bird eye view of your business, departments, functions, etc.

Poor business performance

Your product/service is great. You have good number of employees too. But if you can’t make the most of the data you have, you will eventually start losing. When you have access to meaningful analysis and reporting you can make strategic, well-informed decisions in less time. With a BI tool in place, you have real-time insights into your people’s and business’ performance. You get an idea of root cause of any crests and troughs in your data and manage them accordingly.

Narrow idea about the market

When you have piles of data on hand and don’t know what to do with it, your business will just be a chaos. One of the biggest advantage of a BI tool is that it helps you in demand forecasting and market study. Get all the required data in real-time and not at the month end. You can be proactive rather than reactive to the market condition.

Losing clients

Retaining clients is all about building long-term relationships. For this, you have to have insights about their needs, preferences, history and much more. Business Intelligence solution gives you valuable insights into customer behavior from different viewpoints. When you have this information on hand, you can predict their future needs, target specific products, stay in touch and create a notable customer experience.

Inefficient operations

Maintaining every department’s data in Excel is a cumbersome job. Adopting a BI tool and using it for your operations can benefit you a lot. You will have a sole source of information and that too in real-time. You can monitor and analyze the performance, access and share documents, and make decisions. The end result is a graphical representation on the data you requested, thus improving the operational efficiency.

Disconnected systems

Much of your time is wasted when you switch between tabs or systems for finding a single information. Business Intelligence solution is a single source of real-time information and which can be accessed from anywhere. You don’t have to worry about the compilation and analysis when you have a BI tool in place. Extracting data from various sources and presenting to you only whatever you asked for, BI makes it easier to stay connected and updated.

Developing custom reports

Creating a custom report for every new requirement needs much efforts and time. You have to rely on a tech person for this. By having a BI tool in business, you can get reports in minutes. Anyone can access and create the reports as per their needs. This feature not only increase the efficiency but also gives a better ROI in the long run.
There are many other problems solved by a BI tool which directly impacts your business productivity and efficiency. With changing trends, cloud BI tool is considered convenient and cost-effective by many businesses. In case you want to know more about a world class cloud BI tool, let us know.

Month: February 2018