New Delhi,16th November 2024: ADDA.io is empowering accountants across Maharashtra to turn entrepreneurs as they provide automated accounting services that can potentially transform the housing society finance management market that is estimated to be worth Rs 600 crore. ADDA.io helps these society accounting service providers to easily scale their business with built in automated processes and also sets accounting standards and compliances as per government’s guidelines. Partnering with ADDA.io, and making use of ADDA Books, a key tool of the app, the accountants can now provide services to multiple societies. Currently over 1400 societies across Maharashtra are availing their services impacting about 30,000 households. Managing the books of accounts of multiple housing societies has become much easier, especially when aided by ADDA.io’s futuristic technology. Some of the larger society accounting service providers manage more than 100-200 housing societies in their ambit, ensuring that they maintain complete financial transparency. ADDA.io with its zero ads policy, global presence and robust society accounting features has become a natural choice for such entrepreneurs.
The only Indian state with comprehensive government regulations for overseeing residential communities is Maharashtra. The Maharashtra Co-operative Societies Act, 1960, and its bylaws provide extensive guidelines for financial governance, compliance, and community administration. Therefore, to make sure they are in compliance with government regulations regarding society accounting, residential communities in Mumbai hire expert accounting service providers. The most popular option for these Accounting Service Providers is ADDA Books, the housing society accounting product from ADDA.io’s product portfolio. Through extensive cooperation with numerous leading ASPs, ADDA books have developed into incredibly feature-rich product that support reliable, transparent, and impenetrable accounting.
Krishanu Mukherjee, AVP -Growth ADDA.io elaborated upon the reasons for this popularity, “Govt of Maharashtra lays down clear accounting guidelines and compliance to housing societies. Maharashtra also runs training programs for RWA members to train them at a nominal fee. ADDA.io has presently established itself as the focal point for such accounting service providers. Since 2014, ADDA.io has been running its Accounting Service Partner (ASP) program, which provides dedicated technology, support and training to accounting professionals in Maharashtra. Over the years we have gained the trust of both accountants and housing societies which has enabled us to serve them better. Now our ASP program is spreading in other parts of India as well. We want to empower these entrepreneurs so that they start taking international business as well. This is a very good time for accountants to turn entrepreneurs and reach out to more housing societies, aided by ADDA’s technology.”
Additionally, ADDA is a reliable partner for the Mumbai Auditor Association. The tall skyscrapers of Pune and Mumbai, along with their breathtaking architecture and scenery, may leave you speechless. But one can say that the accounting service providers of Maharashtra are the true super heroes who ensure that these properties are kept in good condition by handling collections, costs, and general financial governance. ADDA.io has the potential to replicate this model across the globe, thus enabling the housing societies to ensure that their account books are transparent.