IT Services

The software industry has undergone a transformation in recent years, with the emergence of cloud-based solutions, artificial intelligence (AI), machine learning (ML), and the Internet of Things (IoT) . These technologies have revolutionized how businesses operate, providing real-time data, analytics, and insights that help them make informed decisions.

To support the growth of this industry, the Indian government has launched various initiatives and schemes, such as the Digital India program and the Software Technology Parks of India (STPI), which provide tax benefits and other incentives to software exporters. However, compliance with regulations and certifications such as SOFTEX is essential to ensure that export proceeds are not treated as general services. If you’re a software exporter in India, it’s important to file the SOFTEX form within 30 days of the invoice to certify the export value of your software. Failure to file can lead to negative consequences, including potential reclassification of remittances and impact on business entities.

The National Pension System (NPS) is an excellent choice for improving employee satisfaction and retention, especially technology companies are experiencing a concerning attrition rate of 35%, with skilled employees leaving for higher wages following the lockdown. Similarly, the services sector is also facing a significant attrition rate of 27%. This has impacted the industry’s ability to return to pre-pandemic levels of operation, hindering hopes of a smooth transition to normalcy with high attrition rates. With its unmatched portability and investment options, NPS can help you build a strong and secure financial future. Learn more about NPS and how it can benefit your industry from us.

Overall, the MSME software industry is a dynamic and innovative sector that has the potential to transform the business landscape. Ensuring compliance and avoiding future headaches the proper support and policies in place which Yosaney guides through, can continue to drive economic growth and provide businesses with the tools they need to succeed in today’s digital world.