(MENAFN- Pressat)
Innovate Tax has been selected by Cardiff University to implement its industry-leading automated solution for GB VAT within the university's Oracle E-Business Suite to ensure accurate determination of all its tax transactions.
The solution will include a mixture of Innovate Tax's out of the box GB Oracle setup and tailored configuration to meet the precise tax requirements encountered by finance teams operating in the higher education industry; enabling the university's tax professionals to benefit from accurate and reliable automated tax determination and granular reporting.
Innovate Tax will also work with Cardiff University to design a solution to introduce more automation into the partial exemption calculation process using a combination of Oracle ERP standard functionality and self-service tools. Upon completion, such a solution would transform the way universities across the UK are able to tackle tax.
Sam Thomas, Oracle Practice, Commercial Lead at Innovate Tax, explains:“We're thrilled to welcome Cardiff University to our customer community. We cannot wait to get started and implement our GB VAT solution to help the university enjoy the benefits of automated tax technology, including fast and efficient data processing, minimal manual inputs, vast time and financial savings and, ultimately, accuracy in every transaction.
“It's especially exciting to be collaborating with Cardiff to devise a solution that can dynamically handle partial exemption calculations, something we know universities handle manually outside of their finance systems. As it stands, Oracle alone does not have the functionality to handle this requirement, but we believe through leveraging supplementary technology and the knowledge of Cardiff's finance team, we will develop a solution that will remove a major headache for tax teams within universities.”
Louise Dunbar, Head of Insurance and VAT at Cardiff University, adds:“The changing VAT environment following Brexit has brought the need to update our VAT accounting through Oracle to the fore, so we can meet the expectations of a world-class university. The solution offered by Innovate should furnish our system with a more future proof solution to take us forward. We're really pleased to be working with the Innovate team."
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ABOUT INNOVATE TAX
Founded as in 2012, Innovate Tax is a leading provider of automated business technology solutions for indirect tax.
Integrating with the world's most popular ERP systems, including Oracle, Innovate Tax's core solution helps businesses to automatically calculate and apply the correct amounts of indirect tax payable, such as VAT (Value Added Tax) or GST (Goods and Services Tax), using pre-built rules and logic for over 150 countries.
Innovate Tax has also garnered critical acclaim with the development of its reporting tool LimeLyte, which provides cutting-edge, real-time indirect tax compliance data.
With headquarters in West Sussex, UK, Innovate Tax operates globally, with offices in US, Netherlands, UAE and India.
COMPANY LEADERSHIP
As the only Oracle ACE for eBTax, Andrew Bohnet – Founder and Managing Director of Innovate Tax – is recognised internationally as the best in his field. Andrew is a world-renowned and prolific speaker on all forms of Indirect Tax and Oracle.
An active participant in global VAT events, Andrew presents worldwide and is the current Chair of the Oracle Tax Management Special Interest Group. He founded Innovate Tax to offer clients an unparalleled service when it comes to a complete tax solution, specialising in VAT globally.
COMPANY CONTACT INFORMATION
For all press and media enquiries, contact Tom Witham, Editor:
Email:
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Phone: +44 1243 860 893
COMPANY PROFILES
Website:
LinkedIn:
Twitter: twitter.com/innovatetax
Innovate Tax Limited, a limited company registered in England and Wales under company number 08119496 whose registered and main trading address is Suite 101 Heath Place, Ash Grove, Bognor Regis, West Sussex PO22 9SL, United Kingdom.
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