Vyapar Partners with Suvit to Revolutionize the MSME and Tax Professional Ecosystem

Vyapar a leading business software solution for MSMEs in India, is excited to announce a strategic investment and partnership with Suvit, an automated data entry and smart compliance automation platform.

This collaboration aims to create a seamless ecosystem where MSMEs and tax professionals can interact and access each other data in real-time effortlessly, thereby driving efficiency and growth.

Shared Vision of Vyapar & Suvit for MSMEs

Vyapar envisions being the end-to-end solution for MSMEs in India. By digitizing every aspect of their business, Vyapar aims to streamline billing, accounting, inventory management, and GST compliance, allowing business owners to focus on their core activities. This mission aligns perfectly with Suvit’s goal of automating clerical tasks for tax professionals, enhancing productivity so that they can save time and work more closely with their MSME clients to make them successful.?

“Together we aim to unite taxation experts and taxpayers on a single platform, bridging the gap between the two financial powerhouses and enhancing efficiency. By integrating with Suvit, we can automate data sharing with CAs and tax professionals, significantly reducing the time and effort required for compliance tasks," said Sumit Agrawal, Founder and CEO of Vyapar.

Together Enhancing Efficiency for Tax Professionals

CAs, tax professionals, and accountants are the backbone of the MSME sector, assisting businesses with compliance and growth. Suvit is designed to automate a significant portion of their tasks, such as banking, sales, and purchase transaction entries, directly into accounting software like Tally. This automation saves time and ensures accuracy and efficiency in tax compliance processes.

"Suvit helps tax professionals save up to 10x time by automating transaction entries and GST processes, allowing them to focus on more strategic activities. This integration will enable them to access real-time data from their MSME clients, file returns on time, and avoid penalties," explained Ankit Virani, Co-founder of Suvit.

Why did Vyapar choose to invest in Suvit?

The partnership between Vyapar and Suvit is set to create a unified platform for MSMEs and tax professionals, facilitating seamless interaction and data exchange. This integration will allow Vyapar users to share accounting information easily with their tax professionals, who can then utilize this data for compliance tasks, enhancing overall efficiency. Leading to streamlining the entire business process, from billing to tax filing, making it highly efficient and enabling the entire ecosystem to evolve into the next growth phase.

Suvit's Strategic Plans for Utilizing Funds

Suvit is a testament to the transformative power of technology in the accounting and tax domain. With Vyapar's strategic investment, Suvit plans to enhance its engineering and sales capabilities significantly. This funding will accelerate their development roadmap, enabling the rapid delivery of new features to their customers. The key initiative includes GST Automation, Advanced Analytics, and Practice Management for Tax Professionals. By focusing on these areas, Suvit aims to provide cutting-edge solutions that drive efficiency and growth for tax professionals.

Future Vision

Vyapar’s strategic investment in Suvit marks a significant step towards creating an efficient and collaborative ecosystem for MSMEs and tax professionals. By leveraging the strengths of both platforms, this partnership aims to eliminate the challenges posed by legacy and complex software, offering an affordable, user-friendly solution for managing accounting data.

"This partnership will drive the digital transformation of India's business landscape, bringing, tax professionals, the government, and businesses onto one platform seamlessly," concluded Sumit Agarwal.