VAT Continuous Monitoring
VAT Continuous Monitoring has been developed to address VAT structure, master data quality, transaction data quality, trend analysis and process enhancement. It allows IT, finance and corporate VAT managers to spend less time extracting data and more time analysing it, giving them the extra hours in their day to focus on important discrepancies or other functions.
By extracting data directly from source, many common business issues such as leakages, human errors, financial or job losses or possibly even jail time can be eliminated. Organisations are able to ensure that they comply with various government or industry regulations and legislations as well as internal company policies are adhered to.
With the ability to run all analytics on an ad-hoc, repetitively or continuously basis, you are able to get accurate results when you need them. As companies are able to embed effective VAT best practices into their day to day business operations and as they do with core financial and operational processes, they are able to ensure that they have true assurance every time.
- Provides a unified view of data across multiple systems
- Independently monitors 100% of the transaction
- Automates exception management under-pinned by workflow
- Automates VAT testing
- Drill down functionality on exceptions