A Fortune Global 500 petroleum company automates the generation and management of its e-Invoices with Maventic
Maventic
MaventicAbout Client
The client is a petroleum company owned by the Government of India.
Business Scenario
e-Invoice is a system in which B2B invoices are authenticated electronically by GSTN for further use on the common GST portal. Under the electronic invoicing system, an identification number will be issued against every invoice by the Invoice Registration Portal (IRP) to be managed by the GST Network (GSTN).
Before partnering with Maventic, the client relied on an e-Invoicing solution with a batch processing mechanism that could not meet its business requirements. Their existing solution also depended entirely on GST Suvidha Providers (GSP).
Challenges
The mechanism of the current e-Invoicing solution was creating backlogs that had accumulated over a few months and were challenging to process. The criticality of the entire scenario had escalated to the point where the client needed a speedy resolution. Maintaining a large team dedicated to resolving the backlog was also expensive.
Additionally, owing to the high volume of invoices, whenever the GSP was down, the entire e-Invoicing solution also went down, thereby severely impacting the business.
Solution
Maventic swiftly replaced the existing e-Invoicing solution with its platform built within SAP, mavenTax, to integrate the client’s SAP ERP with the Invoice Registration Portal (IRP) in real-time. The built-in functionalities of mavenTax enabled the client to generate and modify e-Invoices easily from their SAP system without requiring manual interventions, thus providing easy GST reconciliations later.
The architecture used here involved the integration of the IRP with the SAP ERP using SAP PI/PO.
Additionally, Maventic also implemented a custom feature for multiple GSPs.
Benefits
With the mavenTax e-Invoicing solution coupled with the custom feature for multiple GSPs, the client could:
