Vritti Solutions has signed a Memorandum of Understanding (MoU) with The Institute of Chartered Accountants of Nepal (ICAN) to support digitalisation of Chartered Accountants (CAs) in Nepal. As per the MoU, Vritti will provide its practice management software – Simplify Practice – to ICAN members at a concessional rate. The objective of the partnership has been to increase the adoption of digital technology among the CAs and thereby increasing their work efficiency. The Pandemic has also severely disrupted the work of CAs forcing ‘Work from Home’ and accelerating the work culture shift to digital from paper.
CAs are required to work with their clients on audits, taxation, financial services; conduct regular meetings with the clients and meet their regulatory compliances on a timely basis.Simplify Practice is a robust end-to-end software for practice management which synchronises and automates these functions. It combines the features of Assignment Management, Customer Relationship Management, Employee Work Management and team chat. It can be installed on Android phones.
“ICAN is happy to be associated with Vritti Solutions. I am sure, Simplify Practice will help our CA members to manage their practice efficiently. It will be a good step towards digitization efforts of CA fraternity in Nepal,” said Sanjay Kumar Sinha, Executive Director, The Institute of Chartered Accountants of Nepal (ICAN).
Veerendra Jamdade, Chief Executive Officer, Vritti Solutions, said, “We are happy to partner with ICAN in their digitization efforts. In India, more than 8,000 CAs are using Simplify Practice, subsequent to a partnership between ICAI and Vritti Solutions last year supporting digital enablement of Indian CAs. Being a cloud based service, all the client information could be transferred from office systems to mobile phones. In the current pandemic situation, Simplify Practice helps better manage work and employees when working remotely as it increases efficiency, saving resources and time.”
Simplify Practice generates update and track end-to-end processes, activities and tasks along with the team and its performance. It records of the work done by the article in a day, gets the work done by staff reviewed, gets updates on pending work at client and service ends, assigns leads, gets profitability report on a click, enables GPS tracking of employees, assesses penalties due to delay in filings, etc. It generates Business Intelligence reports from complex data through advance analytics.Other key features of the software include Invoicing & maintenance of payment records against transactions, marketing promotions for CAs, team schedule management, team attendance management, expense management, and chatroom for team on work assignments. Vritti Solutions is providing product support and training to ICAN members on the use of the software.