GST helps Marg ERP see jump in revenues in Q2

The firm attributed hike in revenues to its GST-enabled and inventory, billing and accounting software

Introduction of the goods and services tax (GST) may have increased woes of small and medium enterprises, but IT solutions providers are not among them. 

For instance, revenues of Marg ERP, which is a trade specific inventory and accounting solutions provider, soared 300% to Rs 50 crore in the second quarter of the current financial year over the corresponding period of the last year.

The company attributed hike in revenues to its GST-enabled and inventory, billing and accounting software.

With the coming of GST, lakhs of small and medium-sized enterprises (SMEs) are going digital to get GST compliant, the company said. 

It further said it has been in an expansionist mood to open seven new regional offices, 5,000 suvidha centers and will go for tie-ups and acquisitions.

The company has augmented its workforce with the addition of 5,000 trained professionals. It has also set up authorized Marg ERP Service Centers with the help of local partners, in the different part of the country. The company has acquired 1,000 such partners in TIER I and 10,000 partners in TIER II cities.