How hostbook is Navigating Financial Challenges through Cloud Accounting in Modern Business?

CXOToday has engaged in an exclusive interview with Mr. Kapil Rana, Founder & Chairman of Hostbooks. 

What is the story behind launching Hostbooks?

How can businesses create and manage e-invoices with the aid of HostBooks E-Invoice software?

HostBooks E-Invoice software has several advantages over manual invoice generation, including:

Increased efficiency: By automating the invoice production process, you will have more time to focus on other activities.

Reduced mistakes: The software assists in ensuring that all invoices are GST compliant, lowering the possibility of errors.

Improved collaboration: The programme enables you to collaborate on invoices with your team members, making it easy to keep track of changes and ensuring that everyone is on the same page.

Improved visibility: The platform allows you to see your bills in real time, allowing you to check their status and take appropriate action.

If your company in India needs to produce e-invoices, HostBooks E-Invoice software is a suitable option. It is a dependable and effective method of creating and managing e-invoices, and it has several advantages over manual invoice production.

What advantages come with utilising the HostBooks Neo Billing App?

The HostBooks Neo Billing App is a cloud-based billing and invoicing application that provides several benefits to organisations of all kinds. The following are some of the primary benefits of utilising the HostBooks Neo Billing App:

Ease of use: The app is meant to be simple to use, even for organisations who have never used billing software before. The user interface is simple and uncomplicated, and the app includes a number of features that may be tailored to any company’s individual requirements.

Security: The app employs cutting-edge security methods to safeguard the data of organisations. Data encryption and two-factor authentication are included.

GST compliance: The software complies with all GST requirements, so companies can be certain that they are following their legal duties.

Scalability: The software may be scaled to suit the demands of any size business. This implies that firms may start small and then scale up as their demands expand.

Support: HostBooks provides 24-hour assistance to businesses who use the Neo Billing App. This implies that firms may always seek assistance if they require it.

Overall, the HostBooks Neo Billing App is a versatile and effective solution that may assist businesses of all sizes in improving their billing and invoicing operations. The HostBooks Neo Billing App is a wonderful alternative to explore if you need a dependable and economical billing software solution.

What future plans does the company have for business expansion?

By 2025 we should be present on at least 25 international markets. In the present business landscape, accounting and compliance are shifting to the automation technology space. Based on SaaS technology, the cloud-based platform is available on the go to resolve a myriad of pain points for businesses. The platform reduces human intervention in accounting and compliance tasks, leading to increased productivity for businesses. Additionally, with limited human dependency, the platform makes the entire process transparent, simple and scalable. While successful automation drops the operational costs of businesses by 70 percent.

How can HostBooks TDS software assist companies in compiling and calculating TDS returns?

HostBooks TDS software may help businesses compile and calculate TDS returns in a variety of methods, including:

TDS calculation automation: The programme can compute the TDS amount owed on each payment based on the appropriate rates and deductions. Businesses may save a substantial amount of time and effort by doing so.

TDS return generation: The programme can create TDS returns in the format requested by the Income Tax Department. This can assist organisations in avoiding mistakes and fines.

TDS returns to be uploaded: TDS returns may be uploaded to the Income Tax Department’s website using the software, removing the need for firms to file returns manually.

TDS payment tracking: The programme can track TDS payments made to the government, ensuring that firms are always in compliance with their TDS responsibilities.

Warnings and reminders: The programme may provide warnings and reminders about future TDS deadlines, assisting firms in avoiding late filing fines.

Overall, HostBooks TDS software may assist organisations in more efficiently and accurately complying with TDS rules. This can help firms save time and money while also avoiding fines.

What do Hostbooks think about how automation technology is now being adopted in India?

In India, we believe automation technology adoption is progressing quickly. This is because of a variety of variables, including:

• Automation technologies such as robotics, artificial intelligence, and machine learning are becoming more widely available.
• The cost of these technologies is decreasing, making them more affordable for enterprises.
• Businesses’ increasing desire for automation as they seek to boost efficiency and productivity.
• The government’s support for automation, as seen in efforts such as Make in India and Digital India.

The introduction of automation technologies benefits the Indian economy. It assists in the creation of jobs, the increase in production, and the enhancement of quality. However, technology is also causing certain issues, including job displacement and the need for people to reskill and upskill.

Overall, we believe that automation technology adoption is a great development for India. It contributes to the economy being more competitive and productive. However, managing the issues that come with automation, such as job displacement and the need for reskilling and upskilling, is critical.