As Albert Einstein once said, ‘Necessity is the mother of invention’. Truly, invention and innovation are the two wheels of any industry that keeps it afloat. Without any of the wheels, the survival of the industry is under threat. The same is true for accounting software.
There was not a single software in the market that addressed all the needs of MSMEs with regard to accounting, billing, inventory management, and GST compliance. Subscribing to multiple software was adding an unnecessary burden on the company’s expenses.
“My accounting team was discussing challenges encountered by them in maintaining the books of accounts of my other venture. They had to shuffle data from one software to another to satisfy the needs of our organization. There were not any all-in-one software solutions that catered to accounting, inventory management, GST compliance, and business reports. After brainstorming with the experts, we decided to solve this problem for the whole nation.” Priyank Savani, co-founder & CEO.
Munim has everything a business needs for accounting and GST compliance under one roof. “The software is designed to increase the productivity of professionals and simplifies the bookkeeping for businessmen who are not from a commerce background. The unique feature of Munim is; one-click e-invoice and one-click e-way bill generation. The user interface of the software is designed in such a way that even a novice can understand it within a few minutes.” Priyank Savani added
This feature-rich yet simple accounting software turns out to be a single-window solution for different operations of a company, such as procurement, inventory management, invoicing, and GST return filing. The software is fully customizable as per the requirements of a business. Munim’s users may not need industry-specific, expensive ERP software if it gets utilized to the fullest. Furthermore, it is cloud-based software, so there’s no compulsion to be at the office all the time. Users can access the software from anywhere in the world on any device; all they need is a stable internet connection.
Approximately, there are 633.9 lakh MSME industries in India. Out of which 99% are microindustries. From the perspective of GDP, it accounts for 30%. If India aims to become a $5 trillion economy, MSMEs have a crucial role to play. Munim is the software that can enable the growth of the MSME industry. It helps you streamline your business and provides you with all the data regarding different functions of your business. Thanks to the reporting feature of Munim, it provides you with real-time data, enabling you to make better resource allocation decisions, which ultimately leads to higher profitability, says CA Ajay Savani, co-founder & CMO of Munim.
“Mumin was launched in October 2022, and in this short span, user base growth is phenomenal owing to its adaptability across all industries. It has 1500+ users and serves 2500+ companies. The company is adding an average of 300+ users every month and growing fast month on month. Identixweb Pvt. Ltd., HelloTasty Snacks Pvt. Ltd., Varni Star, and Buysm(dot)com are esteemed users of Mumin,” adds CA Ajay Savani.
The team of developers and QA testers is working tirelessly to deliver the best accounting features. The team of Munim also consists of support staff that helps the users understand its different features. When it started, it had only 2 employees, and now it has a team of 25+ professionals working day-in and day-out with a vision to deliver a complete business solution for the accounting and compliance requirements of the MSME sector in India.
“Currently, Munim is absolutely free for all; down the line, in a couple of months, we will levy an affordable subscription fee from our users. And there will be a free trial period for new users. We are also planning to introduce AI-based features to ease the job of accountants. We are aiming to secure 5% of the total market share within 3 years, directly competing with established yet conventional software,” Priyank Savani revealed.
Overall, it is better to use all-in-one accounting software rather than subscribing to multiple software packages for billing, inventory management, GST return filing, and e-invoicing.
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