Important Features in a GST Software – Part 1

Goods and Services Tax has brought us at the brink of one of the biggest business changes of our times. Most of the big businesses have already identified vendors for implementation of GST software an whoever is left are evaluating software providers, over multiple product demos and an extensive question and answer rounds to reach a stage where they can now begin the implementation process, and undertake business process mapping and solutions.

Here is a list of some of the key features that you must ask for in your software:

Security

Security is one of the most critical assurances in today’s digital world. A secure software will not only protect confidential business information but will also avoid any kind of compromise that may pose threat to your business. The world was witness to the Wannacry virus hitting computer systems across the globe and how hackers asked users for payment in bitcoins against retrieval of data. Thus it is important to ensure that the GST software you buy is robust not only in return filing but also from data security point of view as well.

Multi-Platform Adaptability

Every business has to be compliant under the new regime, there is little choice of an alternative. The concept of invoice matching ensures that every taxable person in the value chain files his/her GST Returns on time. This directly affects the compliance rating of businesses. Thus, your purchase should be enabled on multiple platforms and must be accessible from desktop, tablets or mobile phones at any point in time, increasing the ease of online return filing to keep up with these compliance requirements the GST software.

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