Tulasi S Sastri
Quick Summary
Ever since computing entered the business world, decades ago, financial processes have been one of the beneficiaries of computerization, with applications from many software developers. Initial focus was on tackling volumes and related manual efforts, and subsequently focus shifted to improving proc
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FAQ :
Financial applications initially focused on handling large volumes of data and reducing manual effort. Later, the focus shifted to improving processes and strengthening controls. Now, AI and IA are further enhancing these applications by integrating IT with operations and providing robust support for complex situations.
The benefits of new technologies like AI and IA have largely been confined to large enterprises, and have not yet significantly permeated the SME sector. Many SMEs still have a considerable amount of manual activity associated with their current ERP systems.
Compact Accounting Private Limited aims to develop applications that plug the gaps in the SME sector's financial processes. Their goal is to reduce manual efforts, strengthen controls, help create 'Clean Ledgers', and provide timely accounting information for monitoring operations, guided by the motto 'Digitize Early and stay Digitized'.
EasyData is a tool designed to automate the data entry of vendor invoices. It captures key invoice details, performs accounting classifications, updates inventory receipts, handles GST categorisation, TDS management, and Cost Centre classification where applicable.
EasyData is suitable for entities within the SME sector. Professional organisations that offer accounting services will also find it to be a cost-effective solution.
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