Overcoming IMS Implementation Challenges & Key Strategies

Mapping out an Implementation plan devoid of obstacles will not yield the required results as most SMEs dealing with manual workflow struggle with outdated technology frameworks. Here is a list of some of the hurdles:

Technical preparedness 

Most SMEs lack the appropriate basic technical tools and resources needed to install IMS automatically. A number still use legacy systems that are simply primitive. Moreover, the lack of staff with IT skills makes this even more challenging.

Adjustment period 

The shift to an integrated management system brings a new need for proper training and higher levels for both individual employees and entire teams accustomed to using Excel spreadsheets or earlier EDI systems. Change resistance coupled with training time can negatively impact timelines.

Uncertainty regarding Input Tax Credit

ITC is important for all forms of GST compliance as well as cash flow management. However, without GSTR-2B, businesses find it difficult to reconcile a supplier’s invoice with their ITC. This is IMS automates the workflow ensuring that the claims are accurate and compliant by GST regulations.

Untangling the GST Maze

Standard invoice matching approaches rely heavily on human input which makes them tedious and time-consuming. Many SMEs settle for assumptions or over-simplified methods, increasing the likelihood of misstatements, penalties or audits. 

Administrative overload

The adoption of GST has increased compliance requirements for SMEs. Managing the data capturing of invoice tracking and filing them correctly and on time can be burdensome for resource-scare businesses.