In accordance with MSME regulations, in case the buyer fails to make payment as required by section 15 of the Micro Small and Medium Enterprises Development Act, the buyer is liable to pay the supplier compound interest with monthly rests on the amount, applicable at three times the reserve bank rate. Using a rest API technique, master data and relevant check data can be retrieved directly from your ERP system.
Among the features of the app is the ability to configure alert mechanisms, including. Using the vendor web portal, each vendor is provided with access to their payables information and tax certificates, simplifying the entire process for your company, automating these manual processes. To notify the user how many days in advance and how many times.
The way it works
- You can book a maximum of five times such as ten days, eight days, five days, or as needed by your business.
- Organize your users according to your needs so that information integrity is maintained.
- Provides the ability to evaluate suppliers to have an overall view of their performance and metrics, as well as the ability to generate reports and dashboards that highlight how your purchasing procedure is currently being executed.
- Maintain full control over the access rights and validity of the users, to ensure data security.
How will this benefit your organisation?
- To ensure the best functionality, the solution connects to your ERP using standard services.
- Vendors’ portals are implemented very quickly. Easy implementation is made possible, and you can connect your ERP of choice.
- As and when the timeline approaches, buyers can receive alerts from this App at intervals as and how to maintain check details centrally.
- The app allows users to customize alert mechanisms, such as how many times they should be notified.
The Features of Salesforce that will benefit your company
Master data and relevant cheque data can be maintained in this App either using directly connecting to your ERP system using REST API technique.
The app has the feature to configure alerts mechanism like on how many days in advance user to be notified and how many times user to be notified. A maximum of five times like 10 days in advance, 8 days in advance, 5 days in advance, etc as per business need.
Quickly can be deployed in maximum of 3-4 weeks,Master data and Transaction data replication and automation ,User must have access to SAP system and to Salesforce system as well
Find out more about resources by visiting the following link
Cashflow with MSME Vendors
Helps improvise relationship with customers in the digital Age. Keep your customers updated with order notifications, shipping alerts, product demonstration videos