A well known India and GCC based SI having many large pharma distributors wanted to implement E-invoicing for their over 50+ clients who had crossed the e-invoice threshold. However, they did not want API based pricing and NIC API schema that involved authentication, encryption/decryption methods etc. The APIs had to be simple and easy to deploy (a low code type) without any hassles around frequent authentication protocols that would delay processes at their end.
How Fynamics achieved this:
Fynamics developed open APIs that were enriched, meaning Fynamics would handle the frequent (every 6 hrs) authentication with the NIC/IRP and would also take care of the Encryption and decryption with IRP. A separate header level authentication was provided to the SI to ensure confidential & secure data transmission for every client of theirs. This header level auth was added to every API call across einvoice and eway bill. As Fynamics is a NIC Approved GSP ERP, all Einvoice and Eway bill APIs were provided (over 10 in number) to enable the client setup the relevant processes across all their clients. Moreover, on the pricing front, Fynamics introduced the first ever Pay per Success transaction price, allowing the SI’s clients to pay only for the count of success transactions and not for errors or authentication APIs.
What value did it provide:
Significant cost reductions of upto 30% to the SI’s clients as compared to other GSPs as they would pay only for generating IRNs and not for error transactions, which usually account for 20% of overall transactions and authentication APIs that need to be done every 6 hrs for every GSTIN. Adding these additional layers did not compromise on the TAT and speed at all, as nearly 10,000 IRNs are generated for this SI’s clients via Fynamics every day