Shashidhar Jayaraman
Chief Business Officer
Overview
Vendor or Accounts Payable activities are no longer limited to finance functions. With the updated regulatory requirements, companies are also required to monitor the tax compliance of their vendors. Timely tracking of vendor compliance activities for payment release or block has always been a tedious and time-consuming process. With more compliances and penalties on its default, the onus is now on companies to timely track the compliance activities of the vendor.
The Indian Government has also started focusing on tracking Input Tax Credit claims vis-à-vis data available as per vendor’s compliance. To help businesses track their vendor compliances and facilitate end-to-end vendor management, we at BDO India developed Vendor Solution, a comprehensive solution to manage all vendor-related activities automatically and efficiently.
