“More and more, organizations are looking to technology advancements to cope with the ever-changing challenges of global business…With a platform that offers coverage in both the VAT and taxable employee benefit spaces, Blue dot is positioned to address the new working norm in the post-COVID world.”
– Kevin Permenter
Senior Research Analyst at IDC
Modern Employee Spend is on the rise as the new normal
The world is witnessing an explosive growth of employee triggered transactions: Hybrid work, P Cards, decentralized purchasing and online consumption – employees are buying more than ever before – finance teams are left with the implications arising from the unstructured nature of those transactions.
The Employee Spend Compliance Gap is disrupting tax compliance efforts for organizations worldwide
Data integrity is at harm: Incomplete data and missing procurement checks
23% of expense report items are incorrect for tax purposes, often because employees doing the reporting are not financial experts. Incomplete mandatory data alongside missing checks and calculations are prolific, streaming through companys’ financial systems, jeopardizing data integrity.
Finance and tax teams are overloaded with manual labor
Finance team are left with the work of completing and validating missing information, understanding each transaction, applying country specific tax rules while documenting the audit trail for the authorities for thousands of transactions. This comes with endless hours of complex manual labor, messy Excel sheets and increased error rates.
Increased Compliance Risk
As purchase and expenditure controls shift away from centralized finance, errors and incomplete data are magnified as traditional checks and approvals are replaced with unstructured financial transactions. Small errors and inaccurate filings soon magnify into significant risk given the increase of tax authority digitalisation.
Blue Dot’s AI tax compliance platform helps you truly understand employee transactions while empowering finance teams with effortless, smart automation for peace of mind and audit readiness.
Introducing the world’s leading AI tax compliance platform for modern employee spend
Our award-winning technology
Optimised VAT outcomes in full compliance
Calculate and identify any eligible and qualified VAT spend along with countries’ tax regulations and company policy by leveraging an automated AI and ML-powered application to ensure a compliant domestic VAT posting and foreign VAT refund.
Full automation of the Taxable Employee Benefits review process
Enjoy the required level of checks, controls, and calculations of consumer-style spend subject to taxable employee benefits. Using an AI-driven application that analyses the spend that is subject to wage taxation or specific pay-as-you-earn reporting.