ERP Insights >> Magazine >> June - 2018 issue
Kubera: AI & ML based Accounting Software supporting Smart GST Billing and Filing
Author : ERP Insights Team
Wednesday, June 27, 2018
Government of India has brought out a revolutionary reform measure in taxation with the introduction of Goods and Services Tax (GST). Indian Government records show that the total number of businesses enrolled with GST is more than one crore. Current industry leaders in accounting software have been successful in catering to the needs of only 14 lakh odd customers. Clearly, there is an ocean of opportunity in terms of the number of potential customers and by 2020 a target addressable market estimate of 10 crore small self-employed businesses need accounting software in India alone and around 50 crore throughout the world. Perceiving the rising potential of an effective accounting software, a well informed team of industry experts from Kubera Softtech started Kubera - a GST compliant cognitive, artificial intelligence based accounting software.
"GST took the nation by storm and it was in this scenario that the founders sensed an opportunity to introduce an app/software that is compatible with GST. The survey revealed that only 2 to 3 companies in the whole world started experimenting use of the possibilities of Artificial Intelligence (AI) and Machine Learning (ML) in accounting. This motivated the founders to start Kubera. Kubera uses ML, Fuzzy Expert System (FES), Deep Learning (DL), AI and mathematically proven Data and Business Analytics into business intelligence, which is described in the tagline of the company - 'Intelligence in Business'," says Dr. R. Girisha, CTO, Kubera Softtech.
As claimed by the developers, Kubera outperforms its competitors in the market and the best part is that the application can operate with or without internet. A trader who downloads Kubera App/Software can use features such as Point of Sale (PoS), Inventory & Manufacturing, Payroll, Book Keeping, Accountingwith GST-compliant. Continuously striving to be convenient to use, Kubera is backed by various features, such as to learn from previous allocations, account choices and then makes recommendations for new transactions. It can process and review the data, recognize anomalies and compile a list of outliers for auditors to check; it can also work with non-accounting-savvy small business owners, to pull out the hidden pearls of wisdom and then flag the important issues and opportunities for necessary actions; Kubera applies cognitive based learning to discern an answer, rectify them, or escalate them to a human reviewer.
"Usage of smartphone for PoS and accounting powered with cognitive FES, DL, AI and ML with Data and Business analytics was a revolutionary idea as it requires very less investment and has very high sophistication with an easy mode of operation. Backed with latest cognitive technologies, Kubera can easily be used to add stock, produce invoice using PoS, where accounting is done automatically in the back end, and can be used to upload details to the GST portal as well," shares Dr. R. Girisha.
Sketching the Future
By May 2018, Kubera had released the complete PoS, Inventory, Manufacturing with GST compliant application based on Cloud, Android and Windows technologies which have been receiving positive reviews from more than 3000 happy customers till date. In the coming times, Kubera is looking forward to add Computer Vision and Image Processing capabilities to accounting software. Kubera by early 2019, Artificial Intelligence, Deep Learning, Fuzzy Expert System and Machine Learning algorithms will crunch structured and unstructured data from Point of Sale and Accounting using Data Warehouse, Data Mining, Text Mining and Web Mining, will look for anomalies, real-time insights and catapult efficiency, while, Data and Business Analytics will analyse data, compile real time reports and provide informed recommendations to merchants based on Statistics, Fuzzy Logic and Probability which enhances decision making using Business Intelligence.
Kubera: AI & ML based Accounting Software supporting Smart GST Billing and Filing
Author : ERP Insights Team
Wednesday, June 27, 2018
Government of India has brought out a revolutionary reform measure in taxation with the introduction of Goods and Services Tax (GST). Indian Government records show that the total number of businesses enrolled with GST is more than one crore. Current industry leaders in accounting software have been successful in catering to the needs of only 14 lakh odd customers. Clearly, there is an ocean of opportunity in terms of the number of potential customers and by 2020 a target addressable market estimate of 10 crore small self-employed businesses need accounting software in India alone and around 50 crore throughout the world. Perceiving the rising potential of an effective accounting software, a well informed team of industry experts from Kubera Softtech started Kubera - a GST compliant cognitive, artificial intelligence based accounting software.
"GST took the nation by storm and it was in this scenario that the founders sensed an opportunity to introduce an app/software that is compatible with GST. The survey revealed that only 2 to 3 companies in the whole world started experimenting use of the possibilities of Artificial Intelligence (AI) and Machine Learning (ML) in accounting. This motivated the founders to start Kubera. Kubera uses ML, Fuzzy Expert System (FES), Deep Learning (DL), AI and mathematically proven Data and Business Analytics into business intelligence, which is described in the tagline of the company - 'Intelligence in Business'," says Dr. R. Girisha, CTO, Kubera Softtech.
As claimed by the developers, Kubera outperforms its competitors in the market and the best part is that the application can operate with or without internet. A trader who downloads Kubera App/Software can use features such as Point of Sale (PoS), Inventory & Manufacturing, Payroll, Book Keeping, Accountingwith GST-compliant. Continuously striving to be convenient to use, Kubera is backed by various features, such as to learn from previous allocations, account choices and then makes recommendations for new transactions. It can process and review the data, recognize anomalies and compile a list of outliers for auditors to check; it can also work with non-accounting-savvy small business owners, to pull out the hidden pearls of wisdom and then flag the important issues and opportunities for necessary actions; Kubera applies cognitive based learning to discern an answer, rectify them, or escalate them to a human reviewer.
"Usage of smartphone for PoS and accounting powered with cognitive FES, DL, AI and ML with Data and Business analytics was a revolutionary idea as it requires very less investment and has very high sophistication with an easy mode of operation. Backed with latest cognitive technologies, Kubera can easily be used to add stock, produce invoice using PoS, where accounting is done automatically in the back end, and can be used to upload details to the GST portal as well," shares Dr. R. Girisha.
Sketching the Future
By May 2018, Kubera had released the complete PoS, Inventory, Manufacturing with GST compliant application based on Cloud, Android and Windows technologies which have been receiving positive reviews from more than 3000 happy customers till date. In the coming times, Kubera is looking forward to add Computer Vision and Image Processing capabilities to accounting software. Kubera by early 2019, Artificial Intelligence, Deep Learning, Fuzzy Expert System and Machine Learning algorithms will crunch structured and unstructured data from Point of Sale and Accounting using Data Warehouse, Data Mining, Text Mining and Web Mining, will look for anomalies, real-time insights and catapult efficiency, while, Data and Business Analytics will analyse data, compile real time reports and provide informed recommendations to merchants based on Statistics, Fuzzy Logic and Probability which enhances decision making using Business Intelligence.
"GST took the nation by storm and it was in this scenario that the founders sensed an opportunity to introduce an app/software that is compatible with GST. The survey revealed that only 2 to 3 companies in the whole world started experimenting use of the possibilities of Artificial Intelligence (AI) and Machine Learning (ML) in accounting. This motivated the founders to start Kubera. Kubera uses ML, Fuzzy Expert System (FES), Deep Learning (DL), AI and mathematically proven Data and Business Analytics into business intelligence, which is described in the tagline of the company - 'Intelligence in Business'," says Dr. R. Girisha, CTO, Kubera Softtech.
As claimed by the developers, Kubera outperforms its competitors in the market and the best part is that the application can operate with or without internet. A trader who downloads Kubera App/Software can use features such as Point of Sale (PoS), Inventory & Manufacturing, Payroll, Book Keeping, Accountingwith GST-compliant. Continuously striving to be convenient to use, Kubera is backed by various features, such as to learn from previous allocations, account choices and then makes recommendations for new transactions. It can process and review the data, recognize anomalies and compile a list of outliers for auditors to check; it can also work with non-accounting-savvy small business owners, to pull out the hidden pearls of wisdom and then flag the important issues and opportunities for necessary actions; Kubera applies cognitive based learning to discern an answer, rectify them, or escalate them to a human reviewer.
"Usage of smartphone for PoS and accounting powered with cognitive FES, DL, AI and ML with Data and Business analytics was a revolutionary idea as it requires very less investment and has very high sophistication with an easy mode of operation. Backed with latest cognitive technologies, Kubera can easily be used to add stock, produce invoice using PoS, where accounting is done automatically in the back end, and can be used to upload details to the GST portal as well," shares Dr. R. Girisha.
Sketching the Future
By May 2018, Kubera had released the complete PoS, Inventory, Manufacturing with GST compliant application based on Cloud, Android and Windows technologies which have been receiving positive reviews from more than 3000 happy customers till date. In the coming times, Kubera is looking forward to add Computer Vision and Image Processing capabilities to accounting software. Kubera by early 2019, Artificial Intelligence, Deep Learning, Fuzzy Expert System and Machine Learning algorithms will crunch structured and unstructured data from Point of Sale and Accounting using Data Warehouse, Data Mining, Text Mining and Web Mining, will look for anomalies, real-time insights and catapult efficiency, while, Data and Business Analytics will analyse data, compile real time reports and provide informed recommendations to merchants based on Statistics, Fuzzy Logic and Probability which enhances decision making using Business Intelligence.
