Tide India introduces invoicing solution for SMEs in Meghalaya, enhancing regulatory compliance, optimizing processes, reducing costs, and increasing organizational efficiency.Small enterprises in Meghalaya face challenges in digitizing traditional invoicing due to limited resources and technological expertise. According to Tide, 50% of SMEs face challenges in bookkeeping, invoicing, technology adoption, and upgrading accounting systems. They require more training and lack dedicated IT teams. On average, SMEs spend 3-4 hours per week creating invoices and managing expenses on spreadsheets.
Tide’s invoicing solution enables small and medium businesses in Meghalaya to send personalized, GST-compliant invoices directly from its mobile app. This helps eliminate delays, human errors, improve cash flow, streamline accounting, and improve inventory management. Over 1 lakh SMEs have joined Tide since its launch in December 2022.
In Meghalaya, 54% of SMEs are from restaurants, coffee shops, grocery stores, shop owners, marketing firms, advertising consultants, and financial service providers. The platform’s consolidated view of invoice management simplifies tax record keeping. Gurjodhpal Singh, CEO, Tide India said “Our invoicing solution takes us one step further in this direction and allows us to streamline processes for SMEs, eliminating the need to use multiple products to manage disparate services.”
