Case Study: a financial services provider simplifies GST return filing with Cygnet TaxTech

Simplified GST return filing for a financial services provider

Cygnet TaxTech worked with a financial services provider in India that offers services such as realty broking and advisory, investment banking, mutual funds, and housing finance. The customer was struggling with no centralized source system, multiple entries coming from several data sources, large volumes of unregistered transactions across systems, and reluctance to change the data format previously used with its ASP GSP provider.

Cygnet TaxTech implemented an on-premises data warehouse processing tier to create a single file format for B2B transactions, along with consolidation of B2Cs and HSN summary data. The solution also included a manual and auto mode data converter utility for quick validation and rechecking of data points. As a result, the customer gained faster access to finance data, reduced turnaround time for analysis and reporting, and improved its ability to analyze periods and trends for future predictions.