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ICAI Asks Interest and Practice Management Software for CA

Practice Management Software for CA

The Institute of Chartered Accountants of India (ICAI) seeks the preliminary expression of interest for the welfare policy and Practice Management Software for Chartered Accountants.

ICAI has nearly 3.15 lakh member and 90k firms who has an experience of traditional areas of audit, direct, indirect & international taxes consisting of GST and the emergent areas such as insolvency, financial services, risk management, and corporate restructuring, etc. various members are providing the industry occupying senior positions like C&MDs in banks or financial institutions, CEOs and CFOs in leading and reputed public or private sector firms. 

“The Committee for Members in Practice (CMP) of the Institute of Chartered Accountants of India is a non-standing Committee formed under regulatory provisions of Chartered Accountants Act, 1949. This Committee was established for facilitating consolidation and capacity building of CA firms in order to address various problems faced by CA firms and to conceptualize and implement various means for strengthening their capacity as well as providing comprehensive guidelines for consolidation of CA firms.

It aims to encourage and enhance close links between the Institute and the Chartered Accountants, so as to provide them a base of reference in terms of knowledge, expertise, skills and assistance in their professional growth,” ICAI directs. 

Firstly the major key actions of the council are to prolong the welfare measures to the members via arrangements through leading service providers which the members might claim on their choice. 

ICAI wishes to prolong better additional welfare policy to the members of ICAI at discounted rates. 

Hence the institute seeks the expression of interest from different service providers providing the policy in the professional interest namely travel, hospitality, health, Medical Insurance, Term Insurance, Laptops/Desktops, Software & other products of professional relevance.

The second one is the major activities of CMP is to develop and arrange the software concerned towards the members of ICAI. With respect to this CMP seems to practice management software to guide the members and companies to provide their customers and manage their exercise. 

The Practice Management Software, might inter alia, consisting of Jobs & Billing,  Capacity Planning, Documentation, Centralised Client Database, Time Sheets, Invoicing, Attendance, etc “The service providers having the requisite experience and expertise in developing and maintaining the Practice Management Software need to apply. The detailed RFP including Technical and Financial requirements will be uploaded shortly. In the meanwhile, we will request the service providers to send their expression of interest with a budgetary quote at,” ICAI directed.

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