Reading Time: 3 minutes With the changing tax landscape and government regulations becoming more stringent, remaining compliant with the VAT returns process is becoming all the more difficult. There could be various possible reasons for this such as different source systems, nature of operations, etc. The data required to prepare VAT returns are also completely different from the data… Continue reading Automate VAT compliance process and ensure audit readiness
Reading Time: 3 minutes Internationally active companies often miss out on potential refunds of 7 – 10% of VAT paid in foreign countries, considering them as lost due to the effort needed to reclaim them. VAT reclaim is a huge opportunity to reduce business costs and put money back in your budget. Many companies who are entitled to VAT… Continue reading Reclaim VAT and keep your business cash flows intact
Reading Time: 3 minutes Organisations facing challenges in VAT data management Frequently changing country-by-country reporting rules have added to the complexity. For instance, some of the EU tax authorities currently require invoice clearing i.e. real-time reporting of transactions even before the invoice is sent to the customer. Such a mandate for invoice clearance places an additional pressure on the… Continue reading Data complexities in VAT returns and how can technologies like RPA, Artificial Intelligence-Machine learning help!
Reading Time: 3 minutes As per a recent study, global RPA (Robotic Process Automation) software revenue is forecasted to reach $1.89 billion in 2021. Another research states that almost 75% of executives fear of going out of business within five years if they don’t scale artificial intelligence. A report that studied global enterprises states that 81% of total enterprises have… Continue reading The strategies that CFOs can use to drive digital transformation
Reading Time: 3 minutes Banks and financial institutions constitute the backbone of any economy. The rise and fall of any economy are largely dependent on the health of its financial sector. Therefore, banks and other financial institutions are always under scrutiny. Historically, any frauds or scams originating in banks have a far-reaching impact. Not only do they have a bearing on the stakeholder’s… Continue reading Frauds in banks: Here’s what Government is doing!
Reading Time: 3 minutes Introduction The G-7 is a group of seven countries including the USA, the UK, Canada, France, Germany, Japan and Italy. This is an informal group without any legal backing; however, the fact that these countries account to approximately 40% of the Global GDP and 10% of the world population, their say in any matter becomes… Continue reading G-7 tax deal and its impact on India
Reading Time: 3 minutes Introduction The digitisation of the financial sector began in the early 90s when Automated Teller Machine (ATM) and Electronic Fund Transfers (EFT) were introduced. Subsequently, internet banking was approved in India, followed by the National Electronic Fund Transfer (NEFT), Immediate Payment System (IMPS), RTGS, etc. Recently, India has been engulfed in the UPI or digital wallet payment system. With a motive… Continue reading Digital Banking & Road Ahead
Reading Time: 3 minutes Financial Technology or Fintech are innovations such as software, mobile applications, or algorithms that bring together the business owners and financial expertise at a single platform and enhance & automate the financial service offerings. The Finance industry has expanded and observed global Fintech funding surpassing $9 Billion in the second quarter of 2020. It encouraged… Continue reading Evolution Of Fintech: Journey Through The Ages Of Financial Management
Reading Time: 3 minutes Introduction A bank statement is the summary of the inflows and outflows of any particular account holder during the specified time period. It is the bank’s transactional history which is usually considered to be robust documentation for assessing any account holder’s financial health. All sources of revenues, expenses, withdrawals, overdraft payments, credit card payments, etc.… Continue reading Bank Statement Analysis: Crucial For Banks & NBFCs
Reading Time: 4 minutes While a lot of organisations may not consider data management a task for which technology is required, technology when used appropriately in data management gives information; Information that is useful, meaningful, and has real value. Why Tax Data Management? In the last two decades, the organisation’s needs with respect to data have drastically changed. Earlier,… Continue reading Tax Data Management With The Aid Of Technology