ZATCA – E-Invoiceing Announcing Wave 8 ~ SAR 40m Turnover

ZATCA FATOORA INTEGRATION
As you know business up to 40m or more turnover are now required to prepare for ZATCA E-Invoicing “Fatoora” Integration and there are many challenges businesses are facing. The good news is that mTech, officially authorized by ZATCA has initiated special lead is helping businesses to successfully adopt the new requirements smoothly without any major pain.
Regardless of your software, we have build variety of solutions that will get you fit in and start your journey. 
mTech also offering value to help your team learn the details of the ZATCA requirements and possibilities to improve during our engagement with you in terms of technology and business processes both. 
Don’t just get adopt, make it an opportunity to evolve and grow with mTech.
This is why we believe that engaging mTech Consulting team is a great opportunity and we are just a single call away.
You can reach us 0566810702 – 0508212132    –  support@mtechcs.com
 
 المرحلة الثانية للفوترة الالكترونية
تعدّ إم تك، الشريك الرسمي لدى هيئة الزكاة والضريبة والجمارك لتنفيذ عملية التكامل للمرحلة لثانية  للفوترة الإلكترونية “فاتورة”، حيث قمنا  ببدء مبادرة خاصة لمساعدة الشركات في اعتماد المتطلبات الجديدة بنجاح وبسهولة تامة دون مواجهة أي صعوبات بغض النظر عن البرمجيات التي تستخدمها الشركات حاليًا، لقد قمنا ببناء مجموعة متنوعة من الحلول التي ستساعدك على الربط بسلاسة، بالإضافة إلى ذلك تقدّم إم تك قيمة إضافية من خلال مساعدة فريق العمل في فهم تفاصيل متطلبات هيئة الزكاة والضريبة والجمارك، واستكشاف الفرص للتحسين المستمر من النواحي التقنية و العملية على حد سواء.
لا تكتفي بالربط فقط، بل اجعل هذه الفرصة فرصة للتطور والنمو مع إم تك
 
 يمكنك الاتصال بنا على الأرقام التالية: 0566810702 – 0508212132
أو عبر البريد الإلكتروني على          INTEGRATION      PHASE 2                                                                     
 support@mtechcs.com
 
====================================================================

E-Invoicing Phase 2 – Wave 4 Announced by ZATCA – Are you ready??

While E-Invoicing Phase 2 in Saudi Arabia presents several benefits, it also carries certain business risks that need to be considered and need to put in place right planning and resources. Here are some of the potential risks that businesses may face with the implementation of E-Invoicing Phase 2:

  1. Technical: Implementation of E-Invoicing requires the integration of accounting systems with the GAZT portal, which could pose technical challenges for some businesses. The risk of technical issues such as system failures or data breaches could impact the accuracy of invoices and business operations.
  2. Compliance: Compliance with E-Invoicing regulations is mandatory for all businesses in Saudi Arabia. Failure to comply with the regulations can lead to penalties, fines, or even suspension of business activities. Businesses need to ensure that they comply with all the rules and regulations and update their systems accordingly.
  3. Training and Adoption: E-Invoicing may require additional training for employees to understand the new invoicing process and system requirements. The adoption of new technology could take time, and businesses may face resistance from employees who are not familiar with the new system.
  4. Cybersecurity: E-Invoicing involves the exchange of sensitive business data, which could make businesses vulnerable to cyber threats such as data breaches or cyber-attacks. Businesses need to take measures to ensure the security of their systems, such as implementing firewalls, secure communication protocols, and data encryption.

In conclusion, E-Invoicing Phase 2 in Saudi Arabia presents several business opportunities like upgrading to right ERP solution and building strong processes and control related risks that need to be considered. Businesses should assess their readiness for the implementation of E-Invoicing, evaluate the potential risks, and take appropriate measures to mitigate them. This includes implementing adequate cybersecurity measures, training employees, and ensuring compliance with all regulations.

mTech is helping organizations to get in compliance with ZATCA and IFRS both and we love to speak with you at your ease. Just drop us an email at info@mtechcs.comor call us at +966557729580.

mTech represents Business Solution providing firm with full scale Digital Transformation Services in coordination with Dr. Louise A. Harris – Canada (https://changedesigninstitute.com/)

ZATCA_New_Announcement_EI_Wave 4

Quoted:

Zakat, Tax and Customs Authority Determines the Criteria for Selecting the Taxpayers in Wave 4 for Implementing (Integration Phase) of E-invoicing

Zakat, Tax and Customs Authority (ZATCA) determined the criteria for selecting the targeted taxpayers in the fourth wave for implementing the “Integration Phase” of E-invoicing, as it clarified that the fourth wave included all taxpayers whose revenues subject to VAT exceeded (150 Million Saudi Riyals) during 2021 or 2022. VAT registered taxpayers meeting the criteria should integrate their e-invoicing solutions with (FATOORA) Platform starting from November 1, 2023.

https://zatca.gov.sa/en/MediaCenter/News/Pages/news_1039.aspx

With this update, organizations need to position for a long term strategy instead of short terms plans any more. Those who invest wisely and early will reap the benefit and able to address tech disruptions with better compliance and reporting.

The implementation of Phase 2 of the E-Invoicing system by ZATCA (the Saudi Arabian tax authority) is expected to have a significant impact on businesses operating in Saudi Arabia. Here are some of the potential impacts:

  1. Improved Efficiency: E-Invoicing will eliminate the need for paper-based invoices, resulting in a more efficient invoicing process for businesses. This can reduce errors and save time for both the supplier and the customer.
  2. Enhanced Transparency: The E-Invoicing system will provide greater transparency into the invoicing process, making it easier for businesses to track invoices and payments. This can help reduce disputes between suppliers and customers.
  3. Increased Compliance: The new system will help ensure that businesses comply with tax regulations by requiring them to submit invoices electronically to ZATCA. This can help reduce the risk of penalties for non-compliance.
  4. Integration with other systems: E-Invoicing can be integrated with other financial systems such as accounting and payment systems, making it easier for businesses to manage their finances. Howver, this require to use latest tech stack so that the security and mobility options offer better ROI your organization.
  5. Cost Savings: With the elimination of paper-based invoicing, businesses can save on printing and postage costs on top of ease of archiving.

However, businesses will need to invest in the necessary technology and software to implement E-Invoicing, which can be a significant expense. Additionally, there may be a learning curve for businesses to adapt to the new system, which could initially impact productivity. Overall, the benefits of E-Invoicing are expected to outweigh the costs and businesses that adopt it will likely see long-term benefits.

mTech is helping organizations to get in compliance with ZATCA and IFRS both and we love to speak with you at your ease. Just drop us an email at info@mtechcs.com or call us at +966557729580.

How D365 is better than SAP Hanna

Comparing Dynamics 365 (D365) Finance and Operations to SAP HANA is a complex task, as both solutions have their unique strengths and weaknesses. However, here are some ways in which D365 Finance and Operations can be considered better than SAP HANA:

  1. User interface: D365 Finance and Operations offers a modern and intuitive user interface that is easy to use and customize. In comparison, SAP HANA has a more complex user interface that can be difficult for non-technical users to navigate.
  2. Integration with other Microsoft products: D365 Finance and Operations is designed to integrate seamlessly with other Microsoft products such as Office 365, Power BI, and PowerApps. This allows users to leverage the benefits of these tools within the D365 platform. In comparison, SAP HANA has limited integration options with other software products.
  3. Cloud-based deployment: D365 Finance and Operations is a cloud-based solution, which means that it is easier and more cost-effective to deploy and maintain compared to an on-premise solution like SAP HANA.
  4. Flexibility and scalability: D365 Finance and Operations is designed to be flexible and scalable, allowing businesses to easily add new features and functionalities as their needs evolve. In comparison, SAP HANA can be more difficult to customize and scale as business requirements change.
  5. Support and community: D365 Finance and Operations benefits from a strong support network and community, as it is part of the Microsoft ecosystem. This means that businesses can access a wealth of resources and support to help them get the most out of the platform. In comparison, SAP HANA has a smaller support network and community.

D365 FnO is best suited for non-complex and large implementation where large number of users are engaged due to its simplest user interface and ease of use. Robust deployment and ease of adoptability can bring major ROI impact in most of the cases. Overall, D365 Finance and Operations is a robust and flexible solution that can offer businesses significant advantages over SAP HANA. However, the decision of which solution to choose ultimately depends on a variety of factors, including business needs, budget, and technical expertise.

For more details and best utilization, reach us at info@mtechcs.com

Why you need D365 Solution

One of the biggest values you can get from using Microsoft Dynamics 365 Finance and Operations as an ERP solution is its comprehensive and integrated functionality, unmatched to any other ERP or ecosystem.

D365 Finance and Operations offers a wide range of features and capabilities that can benefit your organization in several ways:

  1. Enhanced Financial Management: D365 Finance and Operations provides robust financial management functionality, including general ledger, accounts payable, accounts receivable, fixed assets, budgeting, and financial reporting. This helps you streamline financial processes, gain visibility into your organization’s financial health, and make informed financial decisions.
  2. Efficient Supply Chain Management: D365 Finance and Operations offers advanced supply chain management capabilities, such as procurement, inventory management, demand forecasting, production planning, and warehouse management. This helps you optimize your supply chain, reduce costs, improve inventory management, and enhance customer service.
  3. Integrated Operations: D365 Finance and Operations integrates various business processes, such as finance, procurement, manufacturing, sales, and distribution, into a unified system. This enables seamless data flow and process automation across different departments, improving collaboration, reducing redundancies, and increasing overall operational efficiency.
  4. Real-time Analytics and Reporting: D365 Finance and Operations provides robust reporting and analytics capabilities, including real-time dashboards, data visualization, and business intelligence tools. This enables you to gain insights into your organization’s performance, identify trends, and make data-driven decisions in real-time.
  5. Scalability and Flexibility: D365 Finance and Operations is a cloud-based ERP solution, which offers scalability and flexibility to adapt to your organization’s changing needs. You can easily add or remove users, modules, or functionalities as your business grows or changes, without the need for major IT infrastructure investments.
  6. Enhanced Compliance and Security: D365 Finance and Operations helps you comply with regulatory requirements and industry standards through built-in compliance features, such as audit trails, security controls, and data encryption. This ensures the integrity and security of your sensitive financial and operational data.
  7. Seamless Integration with Microsoft Ecosystem: D365 Finance and Operations seamlessly integrates with other Microsoft products, such as Office 365, Power BI, Power Apps, and Azure, providing a unified and seamless user experience. This enables you to leverage the full power of Microsoft’s ecosystem to drive productivity, innovation, and growth.
  8. You have local compliance with ZATCA and MOL and system can be extended to very economical Employee Self Service Portal (ESS Portal) which minimize the HR support time and automate your payroll to the max level!

Overall, the comprehensive functionality, integrated operations, real-time analytics, scalability, and seamless integration with the Microsoft ecosystem make D365 Finance and Operations a powerful ERP solution that can provide significant value to organizations seeking to optimize their financial and operational processes.

Why You Chose D365 FnO

Key Advantages

The top 5 advantages of using Dynamics 365 Finance and Operations ERP solution are:

  1. Improved Financial Management: The ERP solution provides real-time visibility into financial data and allows for better decision-making. It automates financial processes such as invoicing, billing, and payment collection, which reduces errors and improves efficiency.
  2. Streamlined Operations: The solution helps streamline supply chain management, manufacturing, and other core business operations. It enables businesses to optimize production schedules, inventory management and reduce lead times.
  3. Increased Productivity: With D365 ERP, businesses can automate routine tasks, allowing employees to focus on more complex tasks. This leads to increased productivity, as manual tasks are reduced.
  4. Enhanced Customer Service: D365 ERP helps businesses improve customer service by providing access to customer data and order history. This allows the business to provide personalized experiences to customers and improve customer retention.
  5. Scalability: D365 ERP is a cloud-based solution, which makes it easier to scale as your business grows. You can add or remove users, locations, and features as needed without having to worry about hardware or software limitations.

Other advantages include:

  • Full scale ecosystem that offers seamless integration
  • Full scale ERP with great and easy to use interface as major advantage and reason for shortest time to go-live and getting staff trained comparing to others
  • Management can enjoy dashboard of their chose through Microsoft Power-BI
  • Cloud offers major cutdown in IT support resources while you remain scalable and enjoy smooth expansion with no interruption
  • AI Predictive Capabilities helps to forecast and alerts
  • Integration with M365 – import and upload data easily
  • Manufacturing and Retail Functionality which means a full scale enterprise with multi company and multi-currency can get fit easily
  • Localized by mTech for local compliances with MOL and local laws relating to payroll and HR with added advantage to economically onboard your whole organization through ESS
  • Data Privacy

Let mTech help you to transform your business and improve your processes as a whole… info@mtechcs.com | 0557729580

Year 2023 …. Your Opportunities Awaiting..

Digital Transformation – A Strategy & Myth

WHY DIGITAL TRANSFORMATION IS CRITICAL FOR BUSINESSES IN 2023

Digital transformation is the process of using digital technologies to fundamentally change how a business operates and delivers value to its customers. It is critical for businesses because it can help them:

Improve efficiency and productivity by automating manual processes, reducing errors, and streamlining workflows.

  1. Increase customer satisfaction by providing a better, faster, and more personalized experience.
  2. Enhance decision making by providing real-time data and insights.
  3. Foster innovation by enabling the testing and rapid iteration of new ideas.
  4. Stay competitive in an increasingly digital world by continuously evolving and adapting to new technologies.

Overall, digital transformation can help businesses remain relevant and successful in an era when technology is rapidly changing and disrupting traditional industries.

HOW TO ASSESS DIGITAL TRANSFORMATION NEED FOR A BUSINESS

  • There are several ways to assess the need for digital transformation in a business:
  1. Identify areas of the business that are inefficient, slow, or prone to errors. These are often good candidates for digital solutions.
  • Look for opportunities to use digital technologies to better serve customers and meet their needs. For example, a business might use a CRM system to better track and manage customer interactions, or use chatbots to provide quick and convenient customer support.
  • Monitor competitors and industry trends to see how other businesses are using digital technologies. This can help identify potential opportunities for differentiation and innovation.
  • Conduct a gap analysis to identify the gap between the current state of the business and where it needs to be in order to be competitive in the digital age. This can help identify specific areas where digital transformation is needed.
  • Consult with experts or conduct research to gain a deeper understanding of the digital technologies and trends that are relevant to the business. This can help identify potential solutions and strategies for digital transformation.

COMMON AREAS OF DIGITAL TRANSFORMATION

There are many areas where digital transformation can be applied, but some common ones include:

  • Customer experience: Using digital technologies to improve how customers interact with a business, such as through online portals, mobile apps, or chatbots.
  • Operations: Using digital technologies to automate and streamline internal processes, such as HR, finance, and supply chain management.
  • Marketing and sales: Using digital technologies to reach and engage customers, such as through social media, email, and targeted advertising.
  • Product development: Using digital technologies to design, prototype, and test new products and services.
  • Data and analytics: Using digital technologies to collect, process, and analyze data to gain insights and inform decision making.
  • Security: Using digital technologies to protect against cyber threats and ensure data security.
  • Collaboration and communication: Using digital technologies to facilitate communication and collaboration within a company, such as through video conferencing, project management tools, and virtual workspaces

Do you need a quick scan for your business, we are here to help you for:

  • Quick scan – free of cost with NDA
  • Specific area to study
  • Overall strategy formulation
  • Full Solution from Scan → Continuous Improvement

info@mtechcs.com | Abdallah 056 599 7922 | Tahir 0566214856 | Abu Hadi 0557729580

https://rb.gy/ehoruy SHort link

Digital Transformation

Business Transformation in the Cloud Era

The need to deploynew functionality across the enterprise has never been more urgent.Whether the requirement is to transform internal business processes, improve interactions with customers, empower employees, or manage a more efficient supply chain, business decision makers across the global economy are being tasked with choosing and implementing new software and services at an unprecedented rate.

The enthusiasm for meeting the needs of a transforming global economy, however,is often tempered with a host of practical concerns. Whilefor the most partthe path to transformation liesin the cloud and in the servicesthatcloud platforms can provide, many companies are concerned with the complexity of movingor upgradingfrom an on-premisesto a cloud infrastructure. Simultaneously, other companies are struggling to understand how to match their specific business requirements to the different cloudvendors’ services and their deployment and operations models.

One of the reasons for this disconnect is that decision makers often fail to take a broad enough view of what is needed to move their companies forward. Many look at their choices as a matter of acquiring next generation functionality in individual domains such as ERP, CRM and HCM, with the goal ofdoing the same things faster, better, and cheaper.It’s a worthyset of goals, albeit one that can also be self-limiting.The reason is that while transforming a business can’t happen without moving forward in these individual domains, transforming in the 21stcentury also requires a mix of new and improved business processes running on a modern infrastructure that is itself adaptable to change.These new processes need to be a mix of best practices and business-specific functionality optimized by the cloud infrastructure they run on. Indeed, the ability to use the cloud and the advanced processes, services,and technologies the cloud can providebecomes as important as the improvements in the functionality of any individual domain.

This means that understanding the interplay between business processes, software and the cloud is more important than ever before; and understanding which vendor can best put these three elements to work moving a company forward to meet its specific requirements is the only way to overcome misgivingsabout how, when, and why implementing in the cloud, whether as an upgrade or via a net-new, greenfield implementation, is the best way forward.

This report will look at how an understanding of Microsoft’s Dynamics 365 for Finance and Operations offering, when combined with the company’s Azure cloud services, Office 365 productivity software, Power BI analytics, and other technology and services, can help drive successful transformations and provide a broader and more meaningful justification for moving to the cloud.

Dynamics 365 Strategies for Success

The need for businesses to innovate in order to more efficiently manage opportunities and interact with customers, employees,and other stakeholders has never been greater. Moving operations and services to the cloud is clearly the path forward. Many companies, however,struggle with how to effectively shift their businesses to the cloud, and behind that struggle is the challenge of acquiringnext generation functionality that moves themforwardin light of their historically siloed business operations.

It’s important to recognize that transforming a business can’t happen without moving forward across the entire company, not just individual domains like ERPandCRM. The focus needs to be on the interplay between business processes, software,and the cloud. Understanding which vendor can best put these three elements to work,moving a company forward to meet its specific requirements,is the only way to overcome misgivings about how, when, and whyimplementing in the cloud, whether as an upgrade or via a net-new, greenfield implementation, is the best way forward.Ideally, the vendor chosen to fulfill this role needs to be able to support an integrated set of applications and processes that deliverthe right functionality on an innovative cloud platform that itself is continually evolving to meet new customer requirements.

Enterprise Applications Consulting believes that Microsoft is a leader in meeting these complex needs.In particular,itsDynamics 365 for Finance and Operations, running on the Azure cloud, is ideally suited to support the transformative needs of the modern enterprise. The ability of Dynamics 365 to offer an integrated set of core enterprise functionswhile drawing on an active partner network to deliver last-mile, industry capabilities sets it apart from its competitors. The continuous improvement inherent in the Azure cloud is enhanced by its underlying services, and the innovations that Microsoft develops for its vast customer base can add highly valuable new capabilities for the Finance and Operations customer. The ability of Finance and Operations to support new business opportunities based on new levels of connectivity and collaboration across an increasing number of stakeholders is supported by the success of a growing customer base across a wide range of industries and geographies.

When the rest of the Microsoft stack is brought into play –Azure, Office 365, the Power Platform, and new innovations like HoloLens–the result presents a unique opportunity for companies to successfully plan and execute a vision of business transformation that is uniquely their own,while leveraging the best practices and standardization inherent in the cloud. This report is intended toshowcase how the mix of applications and cloud-based services that is unique to Dynamics Finance and Operations positions Dynamics in the context of the larger enterprise software market,andalso servesthe specific needs of individual companies. For companies looking for the greatest possiblesynergy between application, technology, and the cloud, the Dynamics 365 family, and Finance and Operations in particular, should definitely be on the short list. Regardless of when it makes sense to pull the trigger and move to the cloud, the time to plan is now.