An enterprise approach to VAT recovery.
Financial stakeholders in Kuehne+Nagel were seeking a solution to relieve their massive unclaimed VAT burden, and to tighten overall indirect tax governance in order to maintain compliance, and were looking to upgrade financial planning with real-time visibility and control over both, Domestic & Foreign VAT spend, enterprise-wide.
Teva Pharmaceuticals centralises and automates T&E and other VAT recovery domains.
Teva’s VAT processes were still very much decentralized, and managed by local entities. Despite the high and growing volume of unstructured processes, much local VAT data remained unqualified. Moreover, the data resided in diverse systems and was subject to loose governance. Teva was facing serious compliance liability, as accidental double submission of T&E and other invoices threatened to bring indirect taxation data integrity as a whole into question.