Compared to the current billing solutions in the market, ClearOne is easy to use and 'accommodate frequent regulatory changes at scale,' the company said
To help businesses digitise and streamline billing and invoicing, leading fintech company ClearTax has launched ClearOne — a GST compliant billing and e-invoicing product. ClearOne will help Small and Medium Enterprises (SMEs) to generate professional invoices with ease. The billing range includes professional invoicing, e-invoicing, export invoicing, e-way bill generation among others. The business owners will have an option to customise their invoices as per requirements. "SMEs can make bills/invoices, customise it as per their own or their customer’s requirement, raise and monitor their invoices on the go and be fully compliant with regulatory requirements," ClearTax said in a statement.
Compared to the current billing solutions in the market, ClearOne is easy to use and "accommodate frequent regulatory changes at scale," the company said.
Explaining the rationale behind this launch, Archit Gupta, founder and chief executive officer of ClearTax said, "Invoicing is key to running a business and digitisation of the invoice is essential when the intent is of business transaction digitisation. The government is moving towards a completely digital invoicing era which will result in massive change for businesses. As a consumer centric company we want to make this journey smooth for the user."
"ClearOne is the direct result of our in-depth market study and a better understanding of the need-gaps that businesses typically have to face. We are confident that users will find ClearOne very intuitive and easy to set up and use," he added.
There are roughly 5 million small businesses in India that need a software solution to raise invoices. Out of them, ClearTax is looking to onboard about 1 million in the first year of its launch.
At present, ClearTax caters to more than 2,000 of India’s biggest brands and corporations as well as 5 million individual taxpayers. It processes around 10 percent of the country’s overall B2B invoices, cumulatively contributing to a trade value of over $300 billion every year, the company said.