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About this blog

Manual data entry—it’s still here, taking up time and patience! Even with all our tech advancements, many companies rely on manual entry for daily operations.

The reason? Legacy systems, complex data formats, tight budgets, and the need for human judgment keep manual processes alive.

But with new tools like AI, RPA (Robotic Process Automation), and IDP (Intelligent Document Processing), companies are finally seeing hope.

By 2025, automation could significantly reduce our dependency on manual entry. RPA mimics human actions for repetitive tasks, IDP helps process semi-structured documents, and OCR (Optical Character Recognition) can convert images to text.

Yet, some manual effort will likely remain, especially when handling complex or unstructured data formats. While complete elimination might be a stretch, businesses can certainly minimize their reliance on manual work with the right tools.

Want the full scoop on how automation tools are reshaping data entry for businesses? Read the detailed blog here.

Suvit, an automated accounting software, is dedicated to helping the accounting industry streamline operations by reducing manual tasks.

Try Suvit for free for a week!

Entries in this blog

GST & Updates

Suo Moto GST Cancellation: What You Need to Know

Suo Moto GST cancellation is when tax authorities revoke a business’s GST registration without a direct request from the taxpayer. This action typically arises from non-compliance, such as failing to file returns, or when authorities suspect fraudulent activities. The cancellation can have severe implications, such as halting operations, disrupting input tax credit claims, and making the business ineligible to issue GST-compliant invoices. However, there’s a way
Suvit_io

Suvit_io in GST & Updates

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Financial Insights

How to Change the PAN Card Password: A Step-by-Step Guide

Recent data breaches, such as the Star Health Insurance leak, have shown how vulnerable sensitive information like Aadhaar numbers, PAN card details, and passwords can be. This puts millions at risk of fraud, identity theft, and financial misuse. Your PAN card is more than just a document; it’s a critical element of your financial identity, used for filing taxes, verifying credentials, and tracking monetary transactions. With the advent of e-PAN cards in PDF form
Suvit_io

Suvit_io in Financial Insights

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Indian Taxation

Simplify Your Cross-Border Taxes and Avoid Double Taxation with a Tax Residency Certificate

Understanding a Tax Residency Certificate (TRC) is important for anyone involved in cross-border financial dealings. This document allows you to claim benefits under India's Double Tax Avoidance Agreements (DTAAs) with over 94 countries, helping you avoid double taxation and save significantly on taxes. A TRC not only helps NRIs, expatriates, and businesses reduce tax burdens but also ensures compliance with international tax laws. It’s a must-have for smoother cr
Suvit_io

Suvit_io in Indian Taxation

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Financial Insights

Why Does India's Financial Year Start from 1st April?

India’s financial year runs from 1st April to 31st March, a timeline steeped in historical significance and practical considerations. This cycle was inherited from British colonial rule, designed to align with India’s agricultural seasons and facilitate tax collection post-harvest. Additionally, it synchronizes with the Union Budget, announce in February, ensuring smooth economic planning and execution. Globally, this timeline aligns with reporting by organization
Suvit_io

Suvit_io in Financial Insights

0
Financial Insights

Understanding High-Net-Worth Individuals in India

High-Net-Worth Individuals (HNWIs) are those with significant investable assets, typically starting at ₹7 crore in India. These individuals are categorized based on their wealth levels: HNWIs (₹7 crore–₹35 crore), Ultra-HNWIs (₹200 crore+), and Emerging Affluent (₹1 crore–₹7 crore). In India, HNWIs often create wealth through startups, real estate, and exports, making them key contributors to the economy. Their financial needs are complex, ranging from tax optimizat
Financial Insights

Chit Funds: Meaning, How They Work, and an Example

Chit funds are a unique savings and borrowing tool popular in India, combining community trust with financial flexibility. Here’s a quick breakdown: What is a Chit Fund? A chit fund is a group savings scheme where members contribute a fixed amount monthly into a pool. This pooled amount is given to one member monthly through an auction or lottery system. How Does It Work? A group forms under an operator, deciding on the contribution, duration, an
GST & Updates

GST on Buy One Get One Free, Discounts & Credit Notes

Running a “Buy One Get One Free” (BOGO) offer or giving post-sale discounts? While great for sales, these can be tricky under GST. For BOGO schemes, GST isn’t actually waived on the “free” item. The taxable value includes the cost of both products, even if one is marketed as free. For instance, if a t-shirt is priced at ₹500 with another “free,” GST applies to ₹500, as this includes the value of both items. Secondary discounts—like post-sale rebates based
Suvit_io

Suvit_io in GST & Updates

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Business Insights

A Quick Guide to the Procurement & Marketing Support (PMS) Scheme

The Procurement & Marketing Support (PMS) Scheme helps MSMEs grow by providing financial aid and resources to improve their market presence. Here’s a brief overview of its key aspects: Eligibility Businesses must be registered as Micro or Small Enterprises (MSEs) with a valid Udyam Registration. Special preferences are given to SC/ST entrepreneurs, women-led businesses, and enterprises from North Eastern regions, aspirational districts, or those run by persons with disabi
Indian Taxation

Penalties Under the Income Tax Act: A Quick Overview

The Income Tax Act lays down various penalties to ensure taxpayers comply with their obligations. Penalties can be levied for non-compliance, under-reporting of income, or failing to file returns on time. Failure to File Returns: If a taxpayer doesn’t file their return by the due date, a penalty of ₹5,000 may apply. This increases to ₹10,000 if the return is filed after December 31 of the assessment year. Underreporting of Income: If income is underreported or omitted, a
Business Insights

Startup Cost Analysis: A Quick Guide

Understanding and managing startup costs is important for any new business. It’s not just about knowing the numbers but also mapping processes to ensure your funds are used wisely. Step 1: Identify Costs Break down costs into fixed costs (like rent, salaries) and variable costs (like utilities, marketing). Step 2: Prioritize Spending List essentials first—these are non-negotiable for launching operations. Delay non-urgent expenses to maintain cash flow. Step 3: Map Processes
Business Insights

AI Use Cases Tailored for CAs in Practice and Industry

AI is changing the way Chartered Accountants work, making tasks smarter and more efficient. From automating data entry and streamlining bookkeeping to enhancing audits and compliance checks, AI tools are reshaping both practice and industry workflows. For CAs in practice, AI helps with tasks like fraud detection, predictive financial analysis, and generating accurate reports quickly. It also simplifies client communication through AI chatbots and provides personalized financial in
Indian Taxation

Types of Taxes in India: A Quick Glimpse

Taxes are how governments fund public services, and in India, they’re broadly categorized into Direct Taxes and Indirect Taxes. Let’s quickly break them down. Direct Taxes are levied directly on individuals or businesses. Key examples include: Income Tax – Paid on personal earnings based on tax slabs. Corporate Tax – Levied on a company's profits. Capital Gains Tax – Applies to profits from selling assets like property or stocks. Indirect Taxes, on the other han
Accounting Tools

How to Find the Right Accounting Software for Your Business

Choosing the ideal accounting software is important for efficiently managing your business finances. With numerous options available, it’s easy to feel overwhelmed, but a systematic approach can simplify the process. Start by identifying your needs. Do you require software for invoicing, GST filing, payroll, or a combination of tasks? Opt for scalable solutions to accommodate your business’s growth, and prioritize cloud-based options for accessibility and automatic
GST & Updates

How to Become a Certified GST Practitioner (GSTP) in India

Want to become a GST practitioner? It's a great way to enhance your career and stay ahead in the ever-evolving world of taxation. From understanding the eligibility criteria to navigating through the registration process, this blog covers all you need to know. You'll learn about the required documents, the step-by-step application procedure, and tips for acing the GSTP examination. Becoming a GST practitioner opens doors to numerous professional opportuni
Suvit_io

Suvit_io in GST & Updates

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Growth

How to Enhance Revenue in Your CA Practice

Hey there, CA professional! Boosting revenue while managing your workload can be tricky, but it’s all about strategy. Start by understanding your target market – specialize in industries like real estate or healthcare to become the go-to expert. Diversify your services beyond tax and compliance; consider offering financial consulting, GST reconciliation, and risk advisory services. Automation is a game-changer. Using tech tools, like AI-powered Suvit, can save you h
Suvit_io

Suvit_io in Growth

0
Financial Insights

Using Collateral for Loans: A Smart Move or a Risky Bet?

Collateral plays a pivotal role in securing loans. Simply put, it’s an asset you pledge to a lender as security for the loan. This could be anything valuable—property, vehicles, jewellery, or financial assets like stocks. Collateral helps reduce the lender's risk, often leading to lower interest rates, higher loan amounts, and better repayment terms. Benefits of Collateral Lower Interest Rates: Loans with collateral typically come with reduced interest rat
Business Insights

Is an LLP the Right Choice for Your Next Big Venture?

A Limited Liability Partnership, or LLP, is a business structure that blends the flexibility of a partnership with the security of limited liability. In simpler terms, it lets business partners enjoy the perks of a partnership while protecting their personal assets. LLPs have grown in popularity in India, especially for startups and SMEs, due to their relatively simple compliance requirements and tax benefits. LLPs are ideal for professionals and small businesses looking to minimi
Growth

Soft Skills & Personality Development for CAs: The Key to Success

Being a Chartered Accountant (CA) isn’t just about crunching numbers. To truly excel, soft skills and personality development play a significant role in your professional growth. These skills help you build stronger client relationships, navigate workplace dynamics, and stand out in a competitive field. Key Soft Skills Every CA Needs Communication Skills: The ability to explain complex financial concepts in simple terms is essential. Whether it's a client meeting or a team discu
Suvit_io

Suvit_io in Growth

0
Automation

What’s Hyperautomation, and Why Should You Care?

Hyperautomation is more than just a trend—it’s a game-changer that uses AI, machine learning, and RPA to supercharge your workflow. For Indian accounting pros, this means less manual work and more accuracy, especially when dealing with unstructured data like invoices and receipts. 💡 ✨ Why It Matters: Say goodbye to manual errors. Automate complex, end-to-end tasks. Boost efficiency and free up your time. 🔧 Tech Behind It: Hyperautomation combines AI, ML, RP
Suvit_io

Suvit_io in Automation

0
Financial Insights

Why It’s Important for Your Invoicing to Be on the Cloud for AP Efficiency

Managing invoices manually is outdated and time-consuming. Switching to cloud invoicing is essential for businesses aiming for faster, more efficient accounts payable (AP) processes. Let’s break down why this move is so important. Cloud invoicing digitizes the entire invoicing process, allowing you to create, send, and store invoices online. This shift has multiple benefits for AP efficiency: Automated Data Entry: Say goodbye to manual errors and hours of data entry. Automation
Financial Insights

7 Principles to Avoid Financial Crisis

Facing a financial crisis can be daunting, but following key principles can help you stay financially secure. Here’s a quick guide to get you started: Live Within Your Means: Don’t let your expenses exceed your income. Start with budgeting to understand where your money goes and make conscious adjustments to avoid debt. Build an Emergency Fund: Save up for unforeseen events like car repairs or medical bills. Aim for three to six months’ worth of living expenses a
Automation

P2P Automation: The Secret Sauce for Smarter Business Transactions

Ever felt bogged down by manual procurement and payment processes? That's where P2P (Procure-to-Pay) automation steps in to save the day. It streamlines everything from ordering goods to processing invoices and payments, turning a once-tedious workflow into a seamless operation. Why Should You Care About P2P Automation? Saves Time: Automating repetitive tasks like data entry frees up your team's valuable time. Reduces Errors: Automation minimizes human mistakes, ensuring smoo
Suvit_io

Suvit_io in Automation

0
Tally Automation

Is It Possible to Eliminate Manual Data Entry in 2025?

Manual data entry—it’s still here, taking up time and patience! Even with all our tech advancements, many companies rely on manual entry for daily operations. The reason? Legacy systems, complex data formats, tight budgets, and the need for human judgment keep manual processes alive. But with new tools like AI, RPA (Robotic Process Automation), and IDP (Intelligent Document Processing), companies are finally seeing hope. By 2025, automation could significantly reduce our dependenc


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