Vayana Network: Digital GST Driver
Commenced its operations in 2009, Vayana Network offers businesses a simple way to manage their working capital and cash flow by enabling to finance their payables and receivables electronically through Banks and Financial Institutions. Similarly, With rich expertise in invoice matching and helping businesses to manage their working capital and cash flow, combined with unfailing technology support since 2009, Vayana Network had strong reason to participate and get em paneled as a GSP by GSTN. Sanjay Phadke, Consultant at Vayana says, ‘As a GSP, Vayana Network will facilitate the use of GSTN system to the businesses as well as application service providers to file the GST returns, match sales and purchase invoices to settle input tax credits. Vayana GSP services will hence help secure GSTN from direct exposure to users on internet as well as distribute the load in a large economy like India.’
The GSP will cater to the entire spectrum of multinational, large, medium or small enterprises, application solutions providers, tax consultants or tax preparatory service providers.
Overall, Vayana Network will manage the flow of data between ASP solution and GST
Network in a secured way with end-to-end data encryption for maintaining privacy. On Infrastructure front, Vayana claims that network has been architected for high availability and performance. Designed for anticipated peak loads of return filing for over 2 million GSTINs, our GSP’s fidelity to publish GSTN API’s and shared authentication protocol ensures security.
Here what Sanjay has to say about the network, ‘it is created by a team that has built US Telco and UK banks remittance systems, Vayana GSP is highly available, secure and concurrent with GSTN. It is hosted on stateless elastic network infrastructure; Vayana GSP has horizontal tech stack assuring high scalability and availability. A high degree of redundancy is built through multi location deployment, load balancing and auto-failover.’