Computer Age Management Services: Raising GST Stock
With 25 years of experience as an integral part of the Indian Financial infrastructure,
CAMS Group is another GST Suvidha Provider. CAMS is co-owned by — NSESIC, NSE Strategic Investment Corporation Limited, a subsidiary of National Stock Exchange, HDFC Group (a financial services conglomerate) and Acsys Investments Pvt Limited (the founding promoter).
As a suvidha provider CAMS believes that there are multiple services that they will
provide to a tax payer and CAMS application will provide meaningful and actionable dashboards, reconciliations that would facilitate Tax Payers in complying with GST Law.
M. Somasundaram, Chief Financial Officer at CAMS says, ‘Application will also send
alerts in the form of SMS and eMails on due dates, non-compliance etc. that would enable timely and comprehensive compliance. We are building actionable MIS that would enable Tax Payers to protect their input credit and identify non-compliant vendors. CAMS will also provide various file format upload option so that it is compatible with all types of ERP/ Accounting software without much changes.’
In terms of IT infrastructure, CAMS has three data centres (primary, in-city BCP and far site BCP centre) with huge IT infrastructure that meets the MF industry requirements. CAMS is also evaluating cloud option.
There are GSPs who are focusing on some specific verticals, on similar grounds, CAMS is currently working with financial services industry for meeting their requirement of generating invoices. Somasundaram says, ’CAMS is also closely working with NBFC and life insurance clients as we understand the intricacies of the transaction and do provide a niece product to them. Since CAMS has more than 63% of stake in Mutual fund industry, CAMS is also working with Mutual Fund industries and its distributor for creating a very specify software to cater to their requirements.