Technology has evolved to the point where near real-time data interrogation and processing can provide organisations with immediate visibility into critical insights. The world of data is moving in almost real-time, and there are solutions available today that can ease the burden of back-office paperwork and compliance. Solutions that leverage the capabilities of artificial intelligence (AI) alongside human expertise and automation to redefine tax, VAT, expenses, and admin for the organisation.

The organisation’s rapid lock-step evolution alongside technology is changing the way data and information are consumed. It also places inordinate pressure on organisations to find intelligent routes through increasingly vast quantities of data to ensure the information is accurate, relevant and well-defined. This is reflected in how organisations approach their procurement and expenditure. Traditionally, the employee would make a purchase, share an invoice with procurement and receive payment. Now, with license-based models and employee expenditure patterns affected by software, location, and use-case, managing this data and these payments has become exponentially more complex, which is why automation and AI are inherently invaluable.

 For example, the traditional way would be to have someone go into the system, open a window, raise a purchasing order with all the line items, add different attributes such as tax codes, and then initiate the process. It is a time intensive process that is driven by professional people who are all focused on the end goals – VAT, benefit tax, corporate tax, reports – before, finally, payment goes out.

However, there are multiple receipts and forms submitted by employees, and it is they who need the value added by automated, accessible solutions that are designed to eliminate this maze of policy-driven complexity. Employees don’t know the rules, and their errors can fundamentally affect the baseline data, affecting the entire system. If details are missing from an invoice or data is incomplete across multiple forms, the end of the month recon moves rapidly from admin to damage control, where someone with a deeper level of domain expertise has to check every item against policy.

Then, that adds another risk – every domain expert will make different checks on the data, which again introduces unexpected inconsistencies. And these inconsistencies then roll down into all the other aspects of the business, such as wage tax, compliance, and VAT. An error, even a very small one, can cost a company up to three times more than the original transaction because of these errors and overly arduous – even if necessary – processes.

Technology eliminates the risk of error at the point of entry. Digital transformation aims to manage this complex environment with a toolset that simplifies, streamlines, and reimagines the processes around it without compromising on regulatory and legal requirements. AI is ideally placed to do this by enabling the tax space by providing 98% accuracy in data capture. Now, add this to a platform designed to match human behaviour and business expectations, and suddenly, the entire narrative changes.

Now, users can access the system and submit their documentation easily while providing decision-makers and professionals with another layer of rich data they can use to transform back-office activities. AI allows the business to deftly manage the baseline and build a trusted, stable, and reliable tax engine with the right attributes and capabilities that minimise human intervention while maximising transformation. And it does all this while making it easy for people to submit their data and remain compliant.

This is where Blue dot excels, in providing organisations with a trusted AI that lets your data talk.