Mysuru: Goods and Services Tax (GST) era is round the corner and business community is desperately looking for an affordable accounting software which can fit their business and other needs with low investment.  

Realising the importance and impact of GST, two engineering students from PES College of Engineering in Mandya have devised ‘Kubera’ app, affordable accounting software. The app was demonstrated at a press conference held at Pathrakarthara Bhavan here yesterday.

The app has been developed by G. Rakesh and G.C. Shailaja, two final year students from Department of Electrical and Electronics under the guidance and supervision of Dr. R. Girisha, Professor, Department of Computer Science, who is also the Training and Placement officer of the college.

C.A. Pampanna who is an advisor for the ‘Kubera’ app and he is responsible for all the compliances of accounting, book keeping and GST rules and regulations. The team has now applied for six global patents for this technology.

Accounting software is usually expensive due to huge investments. “The students have developed the application based on Artificial Intelligence and Machine Learning at nominal costs while major companies have invested hundreds of crores of rupees on similar applications,” said Dr. Girisha.

“The app was introduced on a trial basis in Mandya and evoked a good response from the retail community. Small vendors, such as owners of restaurants and bakeries, have said that their accounting efficiency has improved and that there is better inventory control too,” he added.

‘Kubera’ would be helpful for the MSME (Micro, Small and Medium Enterprises) sector as the features are wide and varied yet inexpensive. The students claim that their application outperforms similar products presently available in the market. The best part of the app is that it does not require internet connection, he said. The app features include inventory management, support for manufacturing, payroll, cloud-based data access anytime, anywhere, does not require to buy own server (to sync).

The app allows vendors to use business and data analytics to find patterns in customer behaviour and market trends to drive business growth in a rapid phase. ‘Kubera’ supports 79 types of businesses. It provides information about upcoming seasons and festivals and also forecasts business according to the stock available in the shop. It also alerts traders about the loss incurred if any and tries to guide them for a profitable business, Dr. Girisha said.

While other service providers charge hefty subscriptions, ‘Kubera’ is charging just a nominal fee, which varies from Rs. 999 to Rs. 4,999 per annum and just Rs. 99 to Rs. 499 per month.

‘Kubera’ download is available on Google Play Store and would soon be available on Windows and IOS. Visit www.kuberasofttech.com for details.