Digital invoicing via SAP Business One

Digital invoicing via SAP Business One

The carrying of goods or commodities from one place to another is enabled by the filing of ‘E-Way Bills’ on the usual GST portal. Likewise, the GST Council is intending to execute a system of e-invoicing.

E-invoicing is not indicative that the company should make their invoice with the government’s software system. Rather, it implies that the company should provide information about their already produced invoice (from their ERP system) to the Invoice Registration Portal (IRP) and get the unique IRN (Invoice Reference Number) and a QR code from the portal, which requires to be showcased on their invoice.

E-invoice should chiefly follow the GST invoicing norms. Besides, it has to even make space for the invoicing system or rules adhered to by each industry or sector in India. Some information is essential and the rest is optional for businesses. And, every e-invoice needs to be registered personally and should not be processed together.

Following this system has become convenient thanks to SAP Business One. It provides two options to customers regarding the real solution deployment and use.

Two Options

File Download

With regard to this option, SAP Business One will permit your user to download all concerned information in the format and type of file needed by the government portals with just one click. As for E-invoicing, SAP Business One can produce the JSON file that can be transferred to the IRP (Invoice Registration Portal).

Unification with GSP (GST Suvidha Providers)

Over here, your SAP Business One system will be unified with the GSP’s software with the APIs for E-Invoicing. This computerised the procedure and your user can straight away print the sales invoice within SAP itself, which would possess the IRN and the QR code issued by the IRP. Customers can select to work with any GSP. We have built an automated solution that can be utilized with any GSP.

Other GST Solutions

We even have solutions for handling your GST reports, returns & E way Bill as well, apart from E-invoicing.

Is 2021 going to be the year of the IoT ?

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The Internet of Things can be a potent technology with several choices in terms of connectivity, hardware and use cases already available in the market. In 2019, IoT had a fabulous year. As per IoT analytics, active IoT devices touched 9.5 billion in 2019 exceeding the initial expectations of 8.3 billion. IoT’s impact is very much evident from the extremely positive data, like its reach within companies. As per Vodafone, currently over one-third of companies opt for IoT solutions to smoothen procedures, bring down functional costs, enhance data collection etc. It’s very surprising to note that these companies mostly prefer to purchase the shelf solutions instead of building their own ones in-house.

The TOP 10 IoT trends

We have strived to compile the top 10 trends pointed out by experts and looking at the chief venture capital functions involving the IoT sector in the previous year. This is what we have unearthed:

Technology trends

From technological perspective we have zeroed in 4 major trends:

Safety


Security is a major concern for those building and utilizing IoT solutions now. This is very much evident from over 100 million attacks in the first 6 months of 2019 alone. A cybersecurity startup, Armis, became the first major meltdowns in 2020. It is almost certain that this happens to be a domain in which investment and the research of the essential countermeasures will be an evolving trend this year and going forward as well. Most of the experts feel that the usage of blockchain can be a critical factor in increasing security in the IoT.

SaaS

Software as a Service is another integral aspect in the IoT world. The advantages are many for both end customers and service providers. The former benefit from cost-effectiveness to a large extent; the latter get the facility to build highly sophisticated solutions and to offer those, straightly or in marketplaces, on a larger scale. The newly launched Professional Public Servers also adheres to this trend. In fact, the SaaS LoRaWAN Network Server solution was developed to assist IoT companies in their evolution minus frivolous expenditures of setting up.

Edge Computing

The cost reduction and the enhanced potency of the devices utilized in the IoT render it convenient to harness the additional computing power of the devices to sift data gathered on the edge (on the device itself, prior to dispatching the data) and permit the conservation of big bandwidth. Also, in several cases, it assures perfect compliance with privacy norms.

Data Analytics

Large scale acceptance of IoT solutions has led to increased data gathering and channelling of every kind of data. Handling and assessing this data defines the genuine value addition that IoT brings to the table. Data assessment, Machine Learning and Artificial Intelligence will naturally have a critical and decisive part. Our exposure conveys that understanding how to assess and comprehend data becomes imperative for an efficient handling of a network, especially if it happens to be a huge deployment. For the same, we are building solutions to assist our customers through these endeavors.

Industry trends

The sectors to witness an IoT explosion in 2020, as per experts?

Smart City


Cities are very much integral to our society, as close to 60% of the global population resides there. In the urban arena, the services that individuals avail can be greatly enhanced courtesy the IoT solutions in the market. The cities in this field are proving the worth of the Internet of Things and several other cities are resultantly following their examples so that smart city attains major traction by 2020.

Industrial Internet of Things (IIoT)

The manufacturing industry has learned the effectiveness of Predictive Maintenance, Energy and Resources management solutions. These are enhancing productivity, assisting larger optimization of resources and procedures, cutting down running expenditures and maximizing operator security. The amount of Proofs of Concept (POCs) offering a commercial solution has largely increased in the last 2 years and the way of digital transformation, including conventional industry sectors, is spreading its tentacles.

Smart home

The voice-identifying algorithms are now very much precise and working perfectly. Hence, the devices built with voice user interface are increasing greatly courtesy the competitive prices, as a result of the robust competition between the big players functioning in the market. Their pervasive diffusion can accelerate the adoption of home automation and smart home solutions as these devices facilitate several services meant for any home environment.

Healthcare 

This happens to be a sector where a lot of money comes in, and innovations are no longer restricted to new drugs or biomedical implants. Perennial disease tracking via smart devices, after surgery monitoring or early warning systems for disease-prone patients, intelligent tricorders and wearable devices, medical and diagnostic smart tools for clinicians, and devices to turn hospital rooms smart. As per Frost & Sullivan, the Internet of Medical Things (IoMT) is bound to reach $72.02 billion by 2021.

Usual trends

Apart from the aforesaid trends we should include 2 more.
These happen to be two trends intrinsic to the technologies and sectors showcased above.

Surrounding 2020 happened to be a year which made the world population learn more of Corona change and these issues have made their way into the policies of governments and corporations. The IoT has a critical part to handle these world crises to save the planet. As a matter of fact, while devising IoT solutions, financial and higher productivity missions are unified with environmental safeguard, waste curtailment and optimal utilization of resources. This segment even comprises solutions for observing and safeguarding animal species at risk and their habitats, and disaster solutions (floods, fires, avalanches) prevention and management.

Comprehensive Connectivity: Despite transmission technology utilized to gather data from sensors and then collate those, solutions to assist procedures of global reach such as asset monitoring and management in food, manufacturing or medical applications need imminent and constant connectivity to assure uniformity and process safety. With regard to companies operating globally or wanting to handle and solve this year. We are in the midst of accomplishing the same.

Final Thoughts

The year has not been excellent, but going forward the forecast is not bad either. We are glad to contribute through our solutions and can very well assist you to cope with transformations that are going to happen in the future.

How Mobile Apps aid in driving Digital Transformation

How Mobile Apps aid in driving Digital Transformation

Introduction

Smartphones have become very critical in our day to day lives. The growing number of smartphone users, 3.5 billion at present, proves this. This has also given birth to a new phenomenon called mobile apps. These gadgets are hollow devoid of mobile apps. There is a reason for the same as well. The apps make life easier for both customers as well as the companies. As far as companies or businesses are concerned, they can easily establish a connection with customers through messaging via apps. However, the message has to be relevant for the customers. This means that the information should pertain to offers, discounts etc. As for customers, apps make it convenient for them to find a product or a service they desire. This is possible only if the app is devised with customer satisfaction in mind. In order to develop such an app it is better to approach an experienced mobile app development company. Hence, the benefits of apps are endless for both the parties if they are properly designed.

Stats are an eye-opener

The statistics provided underneath makes it clear why businesses need mobile applications now more than ever:

  • 21% of Millennial open an app over 50 times daily
  • Mobile apps drive 57% of total digital media usage
  • It is being observed that a user with 80 apps is using up to 40 apps per month
  • Users are expected to download 258.2B mobile apps in 2022

These numbers prove that the popularity of app is soaring and going forward the figures are going to be phenomenal.

What is Digital transformation?

There is a misconception doing the rounds that digital transformation is a process of maximizing the use of technology in a company. The theory is based on the fact that increased use of technology will lead to improved experiences of employees, customers, and other stakeholders. This is nothing but a flawed theory. To be precise, digital transformation is a phenomenon that goes beyond extending the scope of technology. So, what is it? It is a wider cultural transition that aids organizations to adopt an innovative approach that refuses to accept the status quo, and prompts businesses to learn from failure. Digital transformation is not just about incorporating digitalization into diverse areas of your business. It, in fact, changes the way companies function apart from providing genuine value to customers.

How mobile apps are accelerating digital transformation?

A mobile app is very much instrumental in making digital transformation a success story. In the current scenario, apps have become crucial in time spent on mobile phones. From routine surfing to making purchases, everything is facilitated through mobile apps. Even for businesses these apps serve as an ideal platform to establish good relationships with their customers. Hence, mobile applications offer myriad scope to the businesses and bring every aspect of a business on a single platform.

Also Read : How To Develop World Class Android App ?

4 Ways in which apps are transforming business digitally

Providing customers easy access to your business

A mobile app provides your customers with easy and quick access to your team members anytime and anywhere. The app comes with a ‘chat’ feature which companies these days utilize for communication purposes. It has become easier for customers to send their queries to the company. Companies can then respond to these queries in line with the volume of queries and messages received. Businesses can either choose a real-time response at specific hours or 24/7customer service, depending upon what suits them the most. Hence, this is one way in which mobile apps have digitally transformed the business.

Merging AI technology to serve customers

Another way in which mobile app is leading the way in digital transformation of business is through Artificial intelligence (AI) tools. AI is a technology that mimics human traits and then performs functions like humans. The technology enables businesses to interact with their customers in a better way so as to know them really well. Majority of the companies are employing AI technology while creating mobile apps. Some of the AI technologies being used are Natural Language Generation, Natural Language Processing, Speech Recognition Technology, Chat Bots etc. For example, Chatbots communicate with the consumers and register their responses. Hence, it serves the purpose of a virtual assistant for your consumers.

Enhancing functionalities of app through IoT

Internet of Things is basically about taking the power of the internet beyond computers and smartphones to other things or processes. This has increased the functionality of mobile apps as well. Everything pertaining to our lives, be it homes or even toilets, can be accessed via mobile apps on our smartphones. You might have heard of ‘Smart Homes’, where all the home devices are linked to the internet and can be managed easily with an app installed on your phone. So, the apps are no longer just about showing products or providing information. It has become more advanced thanks to IoT. This is another way through which apps are successfully accelerating digital transformation.

Triggering loyalty via real-time app analytics

In the current scenario, businesses thrive on real-time analytics. The real-time analytics has the propensity to make or mar your business. Also these days usage of mobile apps has gone significantly higher. The apps are also enabling businesses to access useful insights pertaining to consumers such as buying pattern, frequency of purchase etc. Thus, the collection of the real-time analytics allows companies to devise appropriate strategies to deal with customers effectively. If utilized properly, the real time app analytics can be beneficial for both companies as well as the customers. For instance, if you are using real-time analytics and a customer happens to be in the vicinity of your outlet, notifications regarding offers or discounts on the products will be instantly dispatched to him or her. This kind of prompt and coordinated technology makes consumers realize their importance to the company and inculcate in them a sense of loyalty towards the business or brand.

Conclusion

So, it would be quite fair to say that mobile applications are critical in accelerating the process of digital transformation in businesses. In order for making a successful transition towards digitalization, companies need to give more importance to mobile app development. Hence, it can be safely concluded that mobile apps drive digital transformation of businesses and help companies gain significant edge over their competitors in a crowded marketplace.