TYASuite - Cloud ERP Solutions

TYASuite Procurementto Pay Software manage your procurement cycle seamlessly to purchase your required items/products or services from the external vendors by involving in the step by step procedure. This process involves in inquire, request, receive and then pay so, therefore, the complete cycle is called procurement to pay process The key process of the procurement life cycle.   Product Requirement analysis: The procurement process starts with the analysis of the products they demand and when they required and what is the affordable budget for the company. Selection of vendors: In this step, the company involves in a list of vendors. By comparing them with a list of other vendors they select one among them who can provide the goods they required from them. Requesting a quote from selected vendors: The company will request for the quote with the selected vendor which includes the information of goods & services, terms and conditions, signature of authorit

Project Management  In simple words, Projectmanagement is a process of completion of projects by manages resources for the sake of organization needs. People that manage the projects also called project managers. The term “Project” signifies in project management which is a piece of work and planned through the start and end goals. By peoples perspective, project management  process may change on certain factors based on the complexity of projects either a smaller or larger. In times Projects management can be done in phase by phase to improve overall quality and control. However larger projects can be broken down into multiple projects and every project has multiple sub-tasks to achieve overall goals on the project.  Project management can manage effortlessly with simplified and series of logical manageable steps Project Initiation Project Planning Project Execution Project Monitoring and Control Project Closure   Project Initiation Project initiation is

Understanding the term “Procurement to Pay Process”  Procurement to Pay (P2P) also called “Procure to Pay process” is a term used to define a business process and not a software or a technology in itself. P2P summarizes various steps involved in the Procurement process of any business.  Steps included in Procurement to Pay Process across industry 1. Requirement Generation  2. Requirement consolidation  3. Vendor Evaluation  4. Purchase Order Generation  5. Receiving Goods or services  6. Recording of Invoicing   7. Payment The above steps can be executed manually or through a well-designed software. The use of software in the procurement process started as early as in the 1990s. Over the last 30 years, technology has traveled from being a luxury to a necessity and from becoming unaffordable to affordable.  However, today also business owners are not comfortable with implementing ERP software due to their implementation complexity. If one has to compare the ad

CARO 2020 was introduced on February 25, 2020, and made effective for all the reports to be issued for the financial years commencing on or after April 1st, 2019.  This publication highlights key takeaways for Auditors, CFO, and other senior management.  Considering a very short time given for companies to comply with this Order, the implementation of this order is going to be  an uphill battle  for companies. When the companies have to look back certain policies that never existed in the last 11 months and comply the same in the next 1 month, it is likely that the application for this order may be deferred for few quarters. The regulators have definitely given a thought for Small business and have exempted CARO 2020 for below private companies including certain specific categories of the company like banking, insurance, section 8 companies, and one person company:   Private companies excluding holding/subsidiary companies with paid-up capital of less than or equal to Fifty L

A survey conducted by IBM in collaboration with Oxford Economics showed that  90% of Indian startups fail  within the first 5 years of their inception. The major reason for their failure is the absence of a long-term plan. Most founders of SMEs make the same mistake:  Thinking of generating more revenue in a shorter time rather than looking at the bigger picture. Founders juggle a lot of responsibilities which only increase in due course of time. They also need to keep an eye on the slowing economy which can topple any organization in just a few days.   Read: How ERP can save your company in recessions Is ERP A Luxury? Every founder wants to expand their company’s growth as each day passes. They work 24/7 to take their company to new heights. Founders can’t make intelligent decisions when they are provided inaccurate data. One slight error in judgement could bring down any company like a house of cards. ERP ensures complete data access at any point in time by centralizing

Mandatory Implementation of GST E-invoicing in B2B transactions from April 1, 2020, initiated by the Government of India. Learn more from Frequently Asked Questions (FAQ) about new GST E-invoicing in India and how TYASuite E-invoicing software automates your transactions with the GSTN system on a common portal. 1.   Can E-Invoice be generated directly at GST Portal? No, The companies will continue to raise invoices in their existing billing platform. After raising the invoice in their platform, the E-invoice process can start. However, companies can use the TYASuite E-Invoicing platform and manage E-invoicing including normal invoice generation end to end in a single click. 2. Can E-Invoice be cancelled? Yes, the E-invoice once generated can be cancelled. 3. Can E-Invoice be Partially Changed? The E-Invoice cannot be changed partially. It has to be fully cancelled and a new invoice to be raised. 4. Can E-Invoice be Amended? Yes, E-Invoice can be amended. However, th

Many businesses today experience tests across areas, counting efficiency and productivity, delivering on client and employee prospects, or handling rising financial or human resource costs. Maybe your business scuffles in one of these areas or all of them…but it doesn’t have to. Enterprise resource planning (ERP) is a suite of integrated applications which bring together data about the business functions associated with technology, services, and human resources. An ERP solution can benefit from solving all of these problems and more—and it can totally transform your business. ERP Solution act as a concierge to all of your business resources, data, and information, by continually retrieving and updating information across manifold departments and functions of your businesses in real-time and in one central place.  Here are a few key ERP business transformation areas you’ll see when you implement an ERP solution: 1.  Enhanced Productivity With the suitable Cloud ERP Software