Can you believe that the global e-invoicing market is set to reach a valuation of $60.9 billion by 2032? If not, you are not alone. But this should not come as much of a surprise, considering e-invoices are now mandatory for every business with a turnover of more than ₹5 crores.

So, it would be safe to say that India will be a major contributor to the growing prevalence of e-invoicing. We can say this with certainty because reports show that the Indian e-invoicing market will grow 19.30% between 2024 and 2032.

This is good because it presents the perfect opportunity to get GST e-invoicing software and leverage modern technologies to simplify complex operations. Then again, with so many alternatives, choosing the right GST e-invoicing solution is not easy. Here we will highlight some of the features you need to look for in this software to get things right.

Right features to look for in an advanced GST e-invoice solution

Not many people know this e-invoicing is not new. In fact, a PWC report verifies that even though e-invoicing is new in India, about 70 countries have already adopted it. We agree that a GST e-invoicing solution with the right features is required. But what would those features be? Well, many features make a good GST e-invoicing solution in India, but here are some of the best-known ones that you need:

  • Generating Instant E-invoice: You must have heard people saying that generating an e-invoice is time-consuming. But no, that’s not true, especially when you have GST e-invoicing software that instantly generates e-invoices. The software should be able to understand your commands and manage everything else.
  • Automated Invoice Generation and Save: Imagine what would happen if you lost an important invoice. You can get a proper GST e-invoicing software and leave these adversities to your imagination. Look for software that automatically generates and saves your e-invoices, ensuring you get seamless access to them for future reference.
  • ISO Certification This is one of the most important things you need to look for in GST e-invoicing or bookkeeping software for small businesses. Consider looking for an ISO-certified GST Suvidha Provider that offers seamless integration with the IRP portal. This will make it much easier to generate GST e-invoices while ensuring effective compliance with all the relevant regulations and laws.
  • E-invoices Printing With QR Code: Another important thing to look for in your GST e-invoicing software is its ability to print e-invoices with QR codes. Numbers show that 86.66% of smartphone users have scanned QR codes at least once, making it the ideal choice for making convenient payments. You must get a GST e-invoicing solution that prints e-invoices embedded with IRN for seamless payment, contributing to a greater client experience.
  • E-Invoice Reporting: One of the most important features you need in a GST e-invoicing solution is e-invoice reporting. The solution must provide all the necessary reports and relevant aspects of your business’s e-invoicing. Ensure it provides reports on e-invoice information summary, rejection reports, e-invoice cancellation and registration reports. Now, imagine how this will simplify the entire decision-making process.

Wrapping up

The popularity and prevalence of e-invoices will only grow as time passes. Therefore, you cannot afford to be complacent in your search for the right GST e-invoicing solution.

So, ensure you do not waste time, and get the best accounting software like TallyPrime, or explore trusted platforms like Vantazo.com today to simplify your e-invoicing needs. Also, ensure that whichever software you choose has all the essential features we discussed here. These features are all that you need to eliminate unwanted clutter and focus on growing your business.