Even though SMEs form a vital part of the economy, they stumble upon various challenges, managing accounting and tax compliance is one of them. Being technologically less advanced, the SMEs face difficulties maintaining their accounts or filing tax returns like GST. These have become the core issues that are hampering the growth and development of SMEs in India. 

All-in-One Accounting Application: An Optimal Solution

In India, accounting and statutory compliance have become more complicated with the changes in the economy and tax regime. SMEs need to invest their valuable resources, time, and money to keep up with these changes, making it difficult for them to focus on their core business.

As technology is evolving, accounting is making a shift to process automation, cloud computing, digital document management, and business intelligence reporting tools.

We at HostBooks are continually working to make the entire accounting and compliance space automated yet simple. With the vision to be a leading automated business solution for every small and medium enterprise by significantly saving their cost and time in accounting, reporting, and compliances; we have put accounting expertise and cutting-edge technology together to integrate all accounting compliance solutions in one platter, empowering SMEs to overcome key accounting challenges.

HostBooks is a cloud accounting application that allows its users to manage compliance seamlessly on the go. Whether preparing accounts or filing GST returns, businesses can do it effortlessly. The best part is you don't need to be an expert or need a manual to understand the process; it's that easy to use! Our application enables SMEs in India to become self-reliant and efficient.

In a nutshell, HostBooks helps SMEs in the following ways:

Productivity: Minimizes the multi-step functions with Automation and AI, thereby enhancing productivity.   

Availability: Simplifies the process by making it transparent, scalable, and visible; decision making becomes more relaxed & efficient. Besides, it reduces dependency and pre-requisite job specialization, making the process available all the time.

Reliability: Automation helps streamline tasks.

Performance: An increase in both productivity and reliability enhances performance.

Cost Reduction: Process Automation helps reduce the cost of operations by 70%.

HostBooks in the SME ecosystem

1). Delivering results as a SaaS Product

HostBooks SaaS product is an excellent alternative to traditional software. The user no longer has to build the server, install the application, or configure it. The maintenance costs are also low.

Whether minor or major feature updates or security fixes, we continuously make improvements to our software to meet the needs of SMEs.

2). Creating awareness about Cloud Computing

Being a cloud-based software, HostBooks enables SMEs to securely store and access their data . As it requires no installation or investment in infrastructure, business owners can save substantial capital costs. Our software takes the backup of each instance at regular intervals and also provides multi-zone hosting. We use secured Lambda services along with HTTPs, SSL, and TSL for secure data transfer.

Cloud computing is being increasingly used by businesses to work smarter and faster. We are also helping SME owners by spreading awareness on the positive impact of cloud through seminars, blogs, articles, emails,and webinars.

1).  Simplifying Compliance via Automation

HostBooks leverages the power of automation by reducing the time spent on managing compliance.  The single input feature that replaces repetitive inputs for multiple outputs is one of the key features.

HostBooks helps SMEs save time and cost by automating a whole range of repetitive tasks such as billing, invoicing, and transaction reconciliation. Besides, it also facilitates hassle-free single click tax return filing.

4).  Enabling Real-time Accounting

When we wait to get our books done once a year, we tend to lose the power of being able to monetize opportunities in real-time. HostBooks facilitates real-time accounting for the SME owners through the intelligent dashboard and optimal reporting. It helps them know exactly where they stand with account balances, revenue, and profit.

Detailed charts and graphs help SMEs monitor the money flowing in and out of business. They can easily view key business performance indicators from the dashboard. Furthermore, optimal financial reports help the owners make better-informed decisions.

1). Nurturing Knowledge-sharing

Knowledge-sharing builds learning organizations by stimulating cultural change and innovation. Therefore, we at HostBooks emphasize educating the masses on how they can become self-reliant by adopting the latest technological trends.

Besides hosting webinars on topics like accounting compliance with automation, we are planning virtual courses that will help SMEs learn, grow, and improve. HostBooks has also created various tutorials videos to help businesses learn how to manage tax compliance efficiently.

HostBooks is way more than just a platform that provides an All-in-One accounting compliance solution. Here, we serve small business owners by viewingthings differently. Our software focuses on transforming SMEs into digitally empowered businesses. Accounting and digitalization together have the power to enable businesses to grow and shine surpassing expectations.

 

----------------------------------------------------------------------------------------

About Kapil Rana

Kapil Rana is the Founder and Chairmanof HostBooks Limited, an automated All-in-One NextGen business solution. Kapil is a seasoned entrepreneur with strong business acumen and a solid background in strategic management, finance, Law and Information Technology.

He is a qualified CPA (Ireland) and Fellow Chartered Accountant (India), a first-class management and law graduate, holds a diploma in Information System Audit. A key learner, Kapil keeps rekindling the fire of knowledge. He has dedicated his life to continue pursuing more studies because he firmly believes a business is only as strong as the people behind it.He is currently pursuing his doctorate(PhD) in Business Administration from AIMA-AMU.

In addition to his dedication to being a lifelong learner, Rana manages two offices, one in India, and the other in the United States. His unique circumstances make it so that he gets to alternate between living on two different sides of the world. He switches between residing in the Silicon Valley and New Delhi.

Rana has over a decade's experience in the technology sector. He now serves as a leader who creates, develops, and implements a clearly defined and ambitious, yet achievable business strategy. Under his leadership, HostBooks has exponentially expanded its operations nationally and internationally, with 50,000+ usersin India and worldwide in a very short span of time.