CHENNAI: Homegrown software product company Zoho launched, on Wednesday, India’s first bundled finance process application suite compliant with the impending GST rollout. The new launch, packaged Finance Plus, is expected to bring in a fifth of Zoho’s revenues in three years.
The Zoho Finance Plus suite, with Zoho Books (accounting and invoicing), Zoho Expense (expense reporting), Zoho Inventory and Zoho Subscription, is priced at H2,999 per month and will enable small businesses, the primary target group of Zoho’s products, to transition and comply with the new taxation regime. This package will allow ten free users access, with additional users attracting nominal charges.
Zoho produces solutions that span the entire gamut of business operations — customer relations, human resources, accounting, emails and inventory management. However, while the finance products together account for around 11 per cent of Zoho’s total revenues, the new suite is expected to spur this percentage to 20 per cent in just three years.
The suite, however, will not limit customers to just accounting and related operations, but will enable them to get on to the Zoho ecosystem of business management apps. “Businesses can get a complete picture of operations and generate reports for business intelligence,” said Sridhar Vembu, co-founder and CEO, Zoho.
Finance Plus’ users can also customise their solutions to fit their own needs, working within the Zoho ecosystem and using a range of options, from drag and drop pre-built macros to writing code on Zoho’s patented programming language - Deluge. Incidentally, Deluge is the first programming language to have originated in India.
The GST related filing services provided by Zoho will be done through GST Suvidha Provider GoFrugal Technologies, founded and run by Vembu’s brother Kumar Vembu.
The Zoho Finance Plus suite includes Zoho Books, an intuitive accounting and invoicing software for forward-thinking businesses and Zoho Subscriptions, a robust solution for subscription-based firms to automate their recurring billing.