Preparing indirect tax reports is time consuming and includes managing data quality risks. Bad or incomplete data can result in non-compliance, large penalties, unrealised tax benefits and rework.
Automate your data validation, analysis, and transformation steps prior to the VAT reporting process.
Leverage a cloud-based, multi-tenant, tax-specific solution for the data validation, analysis, and transformation steps required for a company to properly support the indirect tax reporting process. Vertex Cloud Data Integrity increases VAT return data quality so that companies can reduce their audit risk and increase tax staff efficiency.
Vertex Cloud Data Integrity Features & Benefits
Lower audit exposure
Provides an audit log that records comments and documents changes for audit protection.
Increase staff efficiency
Provides automation that minimises time required to ensure completeness of all required data.
Boost VAT reimbursements
Through improved data quality, tax departments can minimise their tax burden by maximising VAT reimbursements or reducing overpayments in sales and use tax.
Reduce recurring master data errors
Minimises the time required to check data for transaction entry errors and increases the ability to check and track that adjustments/corrections have been made to your ERP or other transactional systems.
Provide an audit trail for data repairs
Increases the ability to document what changes were made to transactions and notate why those changes were needed. Vertex Cloud Data Integrity also minimises the time required to get backup information for specific transactions.