The Goods and Services Tax (GST) was introduced in India on 1st July 2017. As per the GST rules, taxpayers are required to generate e-way bills for transporting goods worth more than Rs. 50,000. Since the launch, about 480 crore e-way bills have been generated so far with August 2024 hitting the record 10.54 crore mark.
These numbers are huge. But, is managing them easy, especially when your business is handling frequent shipments? The answer is a big no. Usually, e-way bill management leads to problems like:
- Errors in data entry
- Duplication of invoices
- Compliance violations
Moreover, tracking shipments is time-consuming and manual updates further increase the risk of delays and penalties. These inefficiencies significantly hinder business operations.
So, what is the solution? Is there a way these problems can be managed? Yes, the answer you are looking for is an “e-way bill management software”. Let’s see how it saves time, reduces errors, and allows you to handle high volumes easily.
What is an e-way bill management software
An e-way bill software is a digital tool. Using it, you can easily create and manage e-way bills as specified under the GST rules. The software simplifies the process by automating tasks like:
- Bill generation
- Tracking consignment
- Storage of bills
Such automation allows businesses to make fewer errors and stay compliant with GST regulations.
4 ways e-way bill management software helps
In India, the e-way bill generation software has a substantial user base. Many popular IT companies offer them to businesses of all sizes. Let’s see how they simplify logistic operations:
1. Automated e-way bill generation
One of the major benefits of using e-way bill generation software is that you can automatically generate e-way bills. This eliminates the need for manual data entry as the software extracts the following data directly from accounting or ERP systems:
- Invoice details
and
- Goods and Services Tax Identification Numbers (GSTINs)
This automation also handles repetitive tasks like duplicate bill generation or validation. Using this tool, a logistics firm can generate hundreds of e-Way bills daily with minimal effort.
2. Real-time tracking
e-way bill software provides real-time updates on shipment status and movement. Using them, you can easily monitor your consignments throughout the supply chain. This reduces the risks of delays or theft.
Additionally, real-time data ensures that businesses can proactively solve problems. For example,
- Say a vehicle transporting goods is delayed.
- Now, the software alerts the business to take corrective measures promptly.
This feature is particularly beneficial for companies handling high-value goods or perishable items. Moreover, such tracking also helps NBFCs and banks as accurate shipment data increases transparency and reduces fraud risks.
3. Integration with existing systems
Most e-way bill management software easily integrates with existing accounting, inventory, or ERP systems. This integration helps in:
- Smooth data flow between systems
- Eliminating duplicate data entry
- Reducing discrepancies
For example, say you run an online marketplace and make several invoices per day in your accounting software. Now, when this happens, the e-Way bill software automatically generates a bill using the same data. Such an automation saves you from manually entering data.
Additionally, such software provides unified reporting and analytics. This allows businesses to track performance and compliance in one place.
4. Flexible invoice configurations
Standard e-way bills follow a specific format. However, by using e-way bill management software, businesses can generate customised invoices. This feature allows you to personalise invoices with unique details like adding:
- Terms of service
- Customer-specific discounts
- Business logo
- Additional notes
With more than 10 crore e-way bills getting generated every month, customised invoices allow you to differentiate yourself from the competition.
Conclusion
If your business deals with frequent shipments, e-way bill management software can simplify generating and managing e-way bills. These tools automate tasks, reduce errors, and ensure GST compliance. Additionally, you get to use some common features such as:
- Real-time tracking of consignments
- Integration with existing accounting or inventory systems
- Ability to generate customisable invoices
By using these tools you can significantly save time and improve the operational efficiency of your business.