Challenges industry is facing to claim rightful ITC
- Is your team managing the task of extracting data from multiple sources?
- Are you often stuck with inaccurate data and incomplete information in source system?
- Is meeting compliance requirements a tedious process for your team to focus on finance operations?
- Do you often notice your finance team spending most of their time in vendor follow-ups, data collation, and cross verifying reconciliation reports?
- Is your business one of those 90% of businesses who claim less than their actual ITC?
- Is your business bearing 3-4% additional cost of total ITC for matching invoices?
Unleash the potential of Cygnet Unblock ITC
An automated end-to-end solution to make your compliance process business efficient.
Identify mismatch within data with our auto-reconciliation rule engine and notify your non-compliant vendor to meet due-diligence and ensure claiming maximum Input Tax Credit
How to ensure error-free compliance filing with us?
- Get instant updates with 2-way flow for real time data sync at single source
- Post purchases, streamline accounts payable directly in your ERP
- Check your vendors compliance health with GST Return Compliance (GRC) score to ensure GST guilt-proof vendors in your ecosystem.
- Vendor KYC checks:
– E-Invoicing applicability
– GRC Score
– GSTIN status
– Strike off status
- Ensure the invoice posted in GSTR 2A & 2B by vendors are only accounted while purchase invoice booking
- To ensure vendors comply for the business initiated, enable automated vendor communication via email and SMS and notify them to meet due diligence
- Auto-manage vendor payments based on your own logics and enable impact free risk management from non-compliant vendors
- GRC Score is a mechanism to monitor vendors not falling under your standard credit cycle
- Ensure full payments to vendors who have complied by filing GSTR 2A, 2B accurately and on time
- ITC insight & CFO dashboard for better insights on vendor compliance, blocked working capital, reconciliation status and supplier compliance periodically
Are you aware about these facts?
100% automation can result in claiming 100% ITC with AI based matching
Potentially 15 to 20% of your business working capital can be unblocked with an intelligent compliance software
On an average, 7-8% of your vendor ecosystem fails to meet their compliance, enable accounts payable with unblock ITC for improvised vendor relations
We ensure that,
your business does not suffer because your vendors are not compliant
- Advanced user access management
- Effective vendor coordination with notifications module
- Smart accounts payable to block GST or entire amount while releasing payments to non-compliant vendors
- AI based advanced reconciliation to achieve 99% match with vendor invoices
- Purchase Invoice Digitization to post only authenticated purchase invoices as available in 2A/2B
- Managed services for compliance and ITC recovery, secured environments, 24*7 premium supports
Why us for mitigating all your Indirect Tax Compliance challenges?
0 billion
e-Invoices already generated
250+
successful ERP integrations
100%
business continuity with ITC insights and CFO Dashboards
15%-19%
of India’s e-Invoice volumes are processed via Cygnet’s compliance platform
3-way reco
between e-Way bills and returns leading to minimum notices
24/7
support for uninterrupted services