VAT|CONTINUOUS MONITORING has been developed specifically to address the new SARS regulations and supplementary data requirements. By analysing the existing VAT structure and organisational data against SARS regulations, it produces a detailed list of issues, exceptions or non-reconciling items for clarification to SARS. The solution is able to produce all of the IT14SD information and supporting data which can then uploaded to SARS via your selected channel.
What will VAT|CM do for your organisation?
Preview a single view across multiple systems
VAT|CM unifies all data from any known system applying VAT analytics to highlight data exceptions. Through collecting 100% of the data directly from source as opposed to manipulated reports, it is able to produce clear, factual results.
Automate routine testing & reconciliations
VAT|CM is fully automated allowing for daily, weekly, monthly and annual scheduling options. In addition, data from past years can also be assessed, provided the data is still accessible.
Provide powerful data analytic capabilities
Analyse full data populations, creating a secure library of data extracts and scripts for analysis, through 80 different analysis commands.
Manage & resolve exceptions against SARS requirements
All SARS regulations are pre-built into the solution. Data is tested, identifying discrepancies and irregularities resulting in a summerised visual overview for distribution to stakeholders for clarification or corrective action. All actions can be tracked and documented with the ACL project log.
Independently monitor every transaction
By analysing 100% of data from source, VAT|CM is independant of system manipulated reports thereby improving accuracy and effectiveness of the overall analysis. All transactions can be reviewed against SARS structural and regulatory requirements and allows for drilling down into line item detail for investigation. With Fuzzy Duplicate analysis, duplicates and near duplicates are highlighted across different sources.
Detection of variances based on SARS specific criteria
By examining the complete data population – every field, every record of interest – in real time, the accuracy and effectiveness of data is vastly improved. Potentially saving your organisation huge sums of money.