Uplifting The MSMEs In India
In accordance with the latest notifications released by the Ministry Of Micro, Small and Medium Enterprises, Government Of India(GOI), published in the Gazette Of India dated June 1st, 2020, the classification of micro, small and medium enterprises is as follows:
- a micro-enterprise is where the investment in Plant and Machinery or Equipment does not exceed one crore rupees and turnover does not exceed five crore rupees;
- a small enterprise, where the investment in Plant and Machinery or Equipment does not exceed ten crore rupees and turnover does not exceed fifty crore rupees;
- a medium enterprise, where the investment in Plant and Machinery or Equipment does not exceed fifty crore rupees and turnover does not exceed two hundred and fifty crore rupees.
In today’s pandemic stricken world, technology is the only field that is unmoved by its impacts or to say least impacted by it. Technology is very diverse in its forms. One of its branches is Information Technology (IT), which acts as a boon for MSMEs. IT has a great impact on all aspects of life and it is transforming the global economy in terms of ways of doing business. IT has a huge impact on most industries and usage of these technologies is reforming the rules of business, leading to the structural transformation of enterprises and businesses. The use of correct technology for businesses can lead enterprises to touch sky-high successes. The potential benefits of Information Technology to Micro, Small and Medium Enterprises (MSMEs) are variedly known. It can enhance MSMEs’ efficiency, reduce costs and expand market reach, at the domestic and international levels. The talk of the current generation has been the adoption of cutting edge technologies like Artificial Intelligence (AI), Machine Learning (ML), data-enabled systems, internet-based businesses, etc. in the global business ecosystem whose roots lie in the proper nourishment and growth of the MSMEs.
SalaryBook provides you with a highly flexible solution to automate all your day-to-day business activities. SalaryBook allows you to manage different wage types, early salary requests, loans & allowances in the most subtle way.
SalaryBook also provides you with its GPS enabled smart attendance management system. With it, you can schedule and track multiple shifts of your employees and categorise half-days, leaves and overtime very easily.
SalaryBook also provides you reports with actionable insights on each employee’s performance, attendance and salary records in the easy to read pdf format.
Moreover, SalaryBook is very user-friendly and gives you all kinds of the desired outputs in the easiest of ways. With the help of SalaryBook, you can take accurate attendance, punch-in and out time without spending a lot of money on the biometric system. SalaryBook substitutes the conventional and expensive biometric system for manpower management which is always a challenge in a simply unique way. Location-based attendance and live location tracking are one of the best features of the app.
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