Yes, Firmway's audit confirmation automation allows you to set deadlines for confirmation responses. This feature helps you maintain control over the audit timeline and ensures timely completion of the confirmation process.

In case a confirmation response is not received within the set timeframe, our automation system can trigger alerts and notifications. This allows you to take proactive measures, such as sending reminders or following up with relevant parties.

Automation helps identify discrepancies or inconsistencies in confirmation responses through data validation algorithms. If any issues arise, the system can generate alerts, allowing you to address these discrepancies promptly.

Yes, Firmway's audit confirmation automation provides real-time tracking of confirmation requests. You can monitor the status of sent requests, received responses, and pending confirmations through the platform's dashboard.

Firmway prioritizes data security. The information shared during the confirmation process is encrypted and transmitted through secure channels. Our robust security measures ensure the confidentiality and integrity of sensitive data.

Firmway's automation platform is designed to efficiently handle high volumes of confirmation requests. It can manage multiple requests simultaneously, ensuring that your audit process remains smooth and uninterrupted.

Yes, Firmway provides technical support to assist with any issues that may arise during the audit confirmation automation process. Our team is dedicated to ensuring that your experience is seamless and trouble-free.

Absolutely. Firmway's automation platform often includes analytics and reporting features. You can gain insights into confirmation response times, completion rates, and other relevant metrics, helping you make informed decisions.

Our system uses AI to do the reconciliation and can do the matches even if the invoice nos. are not matching exactly, has special characters, or are recorded partially.

The system automatically sends reminders over the email and SMS to the parties who are not responding. Further, it can auto escalate the matter to your business team member for people who are not responding.

We have direct APIs from where we can help you to fetch the email ids and mobile nos. of the parties which are registered with the GST portal.

The MSME status of the vendor is subjected to annual revisions on the UDHYAM portal, based on the data extracted from their submitted Income Tax and GST returns. As a result, their categorization may be modified in alignment with government criteria. Additionally, vendors who were previously unregistered may have enrolled this year, and vice versa.

Our distinctive feature lies in efficiently getting responses from vendors. The system employs regular reminders sent via both email and SMS to prompt vendors who have yet to respond. Additionally, it has the capability to generate escalation emails directed to your business or procurement team. In instances where our solution has been implemented for elite clients, we consistently achieve an impressive 80% average response rate.

Our system retrieves the MSME status of vendors in real-time directly from the UDHYAM portal, ensuring a 100% accuracy rate.

Any EPR format would do for the TDS ledger or Sales register (as long as it’s in Excel format). The 26AS we recommend you download it in a txt format from TRACES and we’ll provide you a converter to convert into an Excel format. The mandatory columns in TDS ledger are: TAN, Name of the deductor, TDS amount and, Transaction Date

Our software is smart enough to identify matches based on multiple logics and algorithms input in it over 8 years of doing reconciliations. Even in the absence of invoice numbers, the software based on TAN numbers (primarily), date range, amount matching and other parameters would give you the matches.

The software generates the output report wherein, in the party-wise summary, the TAN are identified with name as per TDS ledger and 26AS from TRACES (side-by-side). The trading name of the enterprise in your TDS ledger is matched against the legal name as per 26AS on the basis of TAN. Name differences in case of proprietors and partnership firms are also identified.

Yes, the software performs reconciliation on section-wise, especially for multiple entries under the same section.

All the deductors with differences, their email ids and the ledgers (matched/unmatched) shall be consolidated and communications to them would be triggered through our portal using your email ids, giving you a complete tracking of delivered, read-receipt, and IP Addresses or readers/responders documented for you

We only require the PAN and Name of the companies to be identified for strike off assignment. We’ll fetch the CIN no. and status as per CIN and provide other relevant information relating to strike off identification

We are a software service provider and not a CA firm. However, the report provided to you would be on our letterhead as evidence of the assignment which is currently being provided to many clients like Mahindra Group, Tata Group, Kalyani technoforge etc.