INDIA, June 11, 2021 /EINPresswire.com/ — SkyscendPay, an industry-first B2B network built on blockchain, announced the launch of GST e-invoicing services for businesses working in India today.
Initially, the company will be offering e-invoicing, e-waybills and GST e-filing while enabling seamless integration, smart data validation, and easy management for the businesses. SkyscendPay is a state-of-the-art procurement platform powered by ABC (artificial intelligence, blockchain, and cloud) designed to revolutionize the procurement experience.
The e-invoicing solution is offered in three product variants – API-based, custom connectors, and web-based. Enterprises that use an enterprise resource planning (ERP) system like SAP, Oracle, Microsoft Dynamics can integrate with SkyscendPay's APIs to connect to the invoice registration portal (IRP).
The ERP connectors are also made available to push invoice details from ERP to GSTIN and back. Whether or not companies use any accounting software, they can leverage SkyscendPay's intuitive e-Invoicing web portal to import and submit PDF or paper-based invoices and receive digitally signed e-invoices and e-waybills (wherever required). Businesses of all sizes can use SkyscendPay's GST e-invoicing solution.
Speaking about the solution, Vinay Doggalli, the CEO of SkyscendPay India, said, "India, being one of the fastest-growing economies across the world, needs partners who can provide world-class procure-to-pay services. Our solution automates the invoicing process with the help of AI and OCR while ensuring a great degree of security and transparency, thanks to blockchain technology. For now, we are providing e-invoicing, e-waybill, and GST e-filing services and scale up operations shortly. We are confident our partners in India will immensely benefit from this service, which is designed to save them time, cost, and effort."
Under e-invoicing, customers can generate, cancel, retrieve, and print e-invoices and e-waybills. They will receive real-time notifications for inward and outward e-invoices.
SkyscendPay has partnered with Vayana Network to power e-invoicing services in India. Vayana Network is a Goods and Service Tax Network (GSTN) authorized GST Suvidha Provider (GSP). This partnership, the ASP-GSP service, aims to assist Small & Medium Enterprises and large business houses in transitioning into GST while taking care of all compliances on behalf of the customers.
SkyscendPay is a secure SaaS-based procure-to-pay platform that automates resource-intensive invoice-processing by integrating with an existing ERP system. The platform, which is also available on the mobile, harnesses the power of artificial intelligence, blockchain, and OCR.
It eliminates manual invoice processing, thereby allowing buyers to streamline their accounts payable while accelerating the invoice approval process. Given the technology stack and offerings, SkyscendPay, compared to other platform providers, is far more equipped to revolutionize the procurement experience for every small to large enterprise.
SkyscendPay was recently chosen by CIO Applications magazine as a ‘Top 10 Procurement Service Companies for 2021’. The recognition indicates SkyscendPay’s potential to transform the procure-to-pay function while also congratulating the company for creating a world-class product.
SkyscendPay was founded by visionary leader Chayapathy Gangadarappa. After working for two decades in the Digital Supply Chain industry, he saw the opportunity to leverage cutting-edge technologies to 'make procurement easy, painless and transparent'. His strong technical prowess is supplemented with a deep understanding of current-day procure-to-pay business processes enabling SkyscendPay to challenge and
improve the status-quo business processes through continuous innovation. He sees the confluence of mobility, optical character recognition, machine learning, artificial intelligence and blockchain technology as "THE" industry game-changer for decades to come. As its Founder & President, Chayapathy is spearheading SkyscendPay to success by committing the firm to offer an exceptional customer experience. Hailing from a small town of Davanagere District in Karnataka, South India – he is a staunch believer in the motto of 'Work is Worship' which he continues to follow and promote religiously. To learn more about SkyscendPay, please visit: https://skyscendpay.com/india
About Vayana Network
Vayana Network is India’s largest Supply Chain Financing platform that connects Corporates and their supply chains to Banks and Financial Institutions to enable easy, digital access to affordable trade financing of their receivables and payables. The Network has till date enabled over USD 6 billion in financing and covers 1,100 pin codes in over 350+ cities in India across 25+ industries, from manufacturing to e-commerce. Vayana GSP offers end-to-end services to ASPs and Corporates to meet their GST, E-way Bill and E-Invoicing compliance needs and is one of the largest GST Suvidha Providers (GSP). Today 1 out of every 5 E-Invoices are processed through Vayana GSP. The company is PCI DSS and ISO 27001:2013 compliant and is a winner of several awards for credit innovation and technology in India and abroad.
Source: EIN Presswire