Interaction with Rajiv Thakur, President - Goods and Service Tax, Velocis Systems

In an exclusive interview with Rajiv Thakur, President - Goods and Service Tax, Velocis Systems. He spoke about the company’s performance, expectations, and challenges for the coming year.

Tell us about Velcois.

About Velcois and GO4GST

With more than 25 years of IT, networking, and software development expertise behind us and over six years of servicing GST compliances as a designated GSP-ASP (GST Suvidha Partner-Application Service Provider) since 2017, Velocis Systems Private Limited (Velocis), is the ideal partner for your GST Compliances.

GO4GST is the GST Compliance Software division of Velocis Systems Private Limited   300+ Enterprise Customers 1500+ Users GSTR-1 Filing: 10 lakh invoices/month API Hits/Month: 75 lakh/month  

We offer a range of benefits that make us stand out in the market.

Some of the key benefits that set us apart:

• Resilient Software for large data sets
• Integrate with most ERP systems including SAP, Microsoft, and Oracle
• Robust Error Handling
• Best in Class Reconciliation Engine that gives accurate 3B filing and maximizes ITC.
• Digitized Vendor Management
• Intuitive Dashboard Reporting
• A Helpdesk team that focuses to close all tickets by the End of the Day and trains users for adaption.

Some of the current challenges CEOs/CIOs face and how GO4GST Helps them to manage Overall Compliance.

CIOs and CFOs are responsible for ensuring that their organizations comply with ever-changing laws and regulations. This can be especially challenging if the business operates in multiple jurisdictions, each with its own set of compliance requirements.

Some of the Major Issues concerning Enterprises and teams are:

• Data Security and Privacy:
• ERP Integration
• Complex IT Infrastructure:
• Streamlining Reconciliation

We at GO4GST are determined to help CIOs and CFOs to overcome this compliance issue with our unique 4-point Go4 Advantages :

1. Go4-Integration: Our platform offers enriched API integration with all the leading ERP systems, including SAP, Microsoft, and Oracle. This integration streamlines data transfer, ensuring seamless communication between financial systems and the Go4GST platform. CIOs can have confidence in the data integrity and consistency across the organization's IT infrastructure.

2. Go4-Enterprise Grade Security: We understand the significance of data security and have powered our platform with AWS services, providing robust security measures to protect financial data. This offers CIOs peace of mind, knowing that their organization's sensitive financial information is safeguarded from potential cyber threats.

3. Go4-Accuracy and Go4-Enhanced Reconciliation: By leveraging efficient algorithms, our platform ensures accurate calculations and reconciliation of financial data. This minimizes the risk of errors during tax filing, relieving the CFOs from compliance-related anxieties and allowing them to focus on strategic financial decisions.

4. Go4-Automation: With the latest technology, our platform automates GST compliance processes, saving time and reducing manual efforts for both the finance and IT teams. This enables CIOs to optimize the organization's IT resources and focus on other critical business initiatives.

In conclusion, Go4GST is designed to empower CIOs and CFOs by addressing their compliance challenges through seamless integration, robust security measures, accurate data reconciliation, and process automation. Our solution streamlines GST compliance, allowing CIOs and CFOs to efficiently manage their organization's financial data while ensuring compliance with tax regulations, ultimately contributing to improved business efficiency and decision-making.

Use Cases :

We have helped numerous businesses achieve smoother GST compliance and significant cost savings through our solutions. For instance, a mid-sized manufacturing company was able to reduce manual efforts and human errors significantly by integrating their ERP and automating their GST return filing process with our platform. As a result, they improved accuracy, saved time, and streamlined their entire tax compliance workflow.

In another case, a Central Organization struggled with Reconciliation issues, vendor management, and risk assessment. After adopting Go4GST, they saw a remarkable improvement in vendor classification and risk mitigation. Our dynamic rule engine allowed them to customize risk assessments as per their business needs, leading to better vendor relationships and enhanced compliance.

These success stories are a testament to our commitment to providing innovative and effective solutions to our customers.

Future roadmap or upcoming developments for Go4GST.

At Go4GST, we are continuously striving to enhance our offerings and stay at the forefront of technology. In the coming months, we plan to invest more in Artificial Intelligence and process automation to further improve our error detection and reconciliation capabilities. We also aim to expand our integration options with SAP making our solution even more versatile and user-friendly.

Our vision is to empower businesses with the best-in-class GST compliance platform that not only meets their current needs but also anticipates and adapts to future requirements.