Inventory management and staying compliant to GST norms are the two most vitals of running a successful and tranquil micro small business.  It’s not an easy task to manage your inventory in different warehouses, track item movements, keep a track of serial and batch tracking or file a GST return. Done manually, it only adds to the overall cost and hits the bottom-line. Forward-going, it becomes a massive blocker in the path of the organization’s growth. 

To overcome these hurdles, startups and MSMEs all over the globe are opting for an ERP system, which can handle these critical functions for them and help achieve the three visions of-

  • Seizing opportunities with digital transformation and fully automated processes
  • Mastering each moment by accessing instant and actionable insights 
  • Defining new standards by adopting industry best practices

The SAP Business One Starter Package incorporates everything an MSME will need for efficient trading – from streamlining their inventory management to gaining GST compliance – in the future. Can there be a smarter choice?

How does SAP Business One Starter Package help in Inventory Management? 

Companies integrating ERP with their inventory management functionality have a competitive advantage over their peers. The jigsaw puzzle of data from purchases reorders and warehouses are solved with SAP Business One Starter Package. The Starter Pack allows the organization to adjust the varied business processes and display the diverse range of information in real-time by:

  • It is not sufficient for a business to propel with a balanced profit-loss wheel if it wishes to thrive in this competitive era. SAP Business One Starter Package comes with a well-equipped supply management system that enables its users to tackle the supply-chain challenges effectively. Planning the growth and changes one desires in the business model is supported by the strategic functions of inventory management. 
  • The Starter Package prepares the vendor aging, customer aging, and item aging reports and provides the information to the Sales and Customer Service teams. The bill-to-ship scenario of what, when, and where- what product is on hand, where is the product, and when will it reach the customer- is managed by it.

Apart from the management and tracking of inventory at different levels, a business organization should be GST compliant. Though the ERPs for Inventory management are capable of handling multiple GST numbers, there’s more the Starter Package can provide. 

How SAP Starter package make an MSME GST-ready? 

The Goods & Services Tax (GST) is designed to incorporate multiple tax regimes into a unique and solidified tax regime. The SAP Business One Starter Package enables the users to be compliant with the tax system and carry out trading business in peace. The cloud-based ERP not only aims to make the MSME GST-ready but also works for the business to evolve and be scalable and adaptable for all the future changes in the financial environment of the country. The following are some of the key areas for making a business GST compliant which are successfully catered by SAP Business One Starter Package:

-A steady communication between the IT, indirect taxation and other departments is of utmost importance to become  GST compliant. The Starter Package automates tax-related processes and simplifies GST filing. The users need not have to go for complex and tedious processes anymore.  

  • Being compliant with the taxation system also requires an organization to make proper configurational changes. The Starter Package helps in making considerations in accounts to fulfill various requirements, for instance, the monthly tax returns. The easy automated handling of these crucial calculations makes the Starter Package the best suite for MSMEs. 
  •  The Starter Package not only enables the users to successfully and smoothly undertake GST filling but also ensures that the business is compliant with the various tax requirements that are currently in place. The package handles the processes of GST returns, procurement of e-way bills, and e-invoicing along with TDS. 

As a decision maker, you may want to make sound investment decisions that can benefit your business. SAP Starter Package is one such ERP that can navigate your business to true success and Uneecops is your partner of choice in the business automation journey.