GST will impact the entire value chain comprising of the major industries irrespective of the sector. It will impact the entire value chain of operations, namely procurement, manufacturing, distribution, warehousing, sales and pricing. And of course, it will have an impact on the ERP system as the data backbone of a company.
Data migration is one big task which affects both master data and transaction data and requires extensive deployment of expert resources. Hence it is of utmost importance to examine and identify the impact areas of GST implementation in the ERP system.
Examples for ERP functionalities that are going to get impacted by GST:
- Chart of Accounts
- Master Data Information
- Tax Rule Engine
How abas ERP can help you to implement GST
abas ERP allows you to implement this framework without significant overhauls of your existing hardware. All you need are the new taxation formulas with a set of reports according to your business category! This alone results is massive cost savings in an era where firms are moving away from large scale IT infrastructure capex.
Recent GST implementations in Malaysia were handled 100% successfully by abas ERP due to the robust nature of the solution and engineering pedegree hailing from Germany. It is a fact that abas retains 93% of its customers and a substantial proportion are using the solution over 10 years with some in the 25 year category which is industry leading for an ERP.
Choosing a product is the easy part! With many stories of ERP failures in India it is vital that companies choose a team that has a history of successful deployments. abas has this dedicaiton to project quality globally hence its high client retention rate over the last three decades. Choosing abas is synonymous with choosing to have a successful ERP project more than a solid ERP product.
With abas the advent of GST or any other regulatory or market change is not something to be feared by senior management. Given that we have proven that our system can be successfully used by world leaders over decades of challenging growth.