The Trusted Compliance Partner: Archit Gupta, Founder and CEO, Clear In its commitment to simplifying complex finance operations, especially electronic invoicing (as an official IRP, the company manages e-invoicing requirements across enterprise segments), Clear has expanded to the Middle East as well, particularly in the Gulf Cooperation Council (GCC)
By Priya Kapoor
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From starting out as an online income tax filing platform for individuals in 2011, Clear soon diversified its offerings to cater to professionals and enterprises and is today a growing leader in the compliance SaaS space in India. "We help customers with a complex compliance landscape (multiple PANs, GSTINs, and invoice counts). We seamlessly manage their GST lifecycle with few clicks. Our systems are strengthened with the latest policies and regulations to validate and correct customer data and information before submitting them for filing," says Archit Gupta, Founder and CEO, Clear.
Its unified solution, Clear Finance Cloud, a platform that operates seamlessly with major enterprise ERP systems, helps enterprises with connected ecosystems through automation of processes across account payable, vendor risk management, tax and secretarial compliance, and invoice discounting and financing. "Our platform and services serve both the CFO and CIO / CTO office. While a CFO achieves the right outcome through digitally transformed finance processes and operations, the CIO / CTO are assured of a secure, intelligent and non-disruptive digital environment in an ERP-central schema. This helps both the teams align to a common plan," adds Gupta. The company leverages cloud computing and machine learning for fostering a collaborative development environment. "Our core programming languages, Java, Javascript, and Python, empower our team to build efficient and scalable products. We are heavily invested in AI-powered automation and machine learning to remove siloed processes, enhance efficiency and ensure peace of mind."
In its commitment to simplifying complex finance operations, especially electronic invoicing (as an official IRP, the company manages e-invoicing requirements across enterprise segments), Clear has expanded to the Middle East as well, particularly in the Gulf Cooperation Council (GCC). It has collaborated closely with government authorities, specifically The Zakat, Tax and Customs Authority (ZATCA) in the Kingdom of Saudi Arabia (KSA), and partners with 250+ large enterprises, solidifying its presence in the region. "Initiating e-invoicing efforts with government authorities in Malaysia marks another milestone, with a nationwide launch we are looking forward to this August 2024," says Gupta.
Gupta tells us that two out of three of their business lines are already profitable this fiscal year (FY24). Government regulations, according to Gupta, are tough, but something that push them to be better. By navigating regulations, they have built solutions that streamline finances and keep clients compliant."
Factsheet:
Amount of funding received: $140mn (cumulative)
Year of inception: 2011
No. of employees: 500+
