Global business travel – Challenges and opportunities in indirect tax

BCD Travel, the third-largest travel management company in the world, promotes innovation that optimises the indirect tax handling and travels spend of its customers.

BCD Travel faced difficulties in obtaining sufficient insight into VAT/GST (hereinafter referred to as VAT) recovery on Travel & Entertainment (‘T&E’) invoices. With multiple expense systems, and the lack of resources and knowledge to cover VAT rules around the globe, the company was only recovering a fraction of its eligible VAT.  In addition, the expense systems in place did not allow for invoices to be processed, and VAT invoice requirements to be validated at the same time. As the volumes were simply too high for a full manual audit process, a significant opportunity remained untapped.

By partnering with VATBox BCD Travel gained:

  • An optimised VAT recovery process
  • 60% higher level of compliance
  • Painless data retrieval via integrations with existing T&E management systems
  • Reduced audit risk – full matching between invoice and record
  • A combined platform to offer VAT recovery powered by VATBox to all BCD Travel’s clients
  • Fully digitalised workflow

As Marcel de Wit, Vice President Global Tax & Treasury at BCD Travel stated:

“We chose VATBox because we want to optimise our VAT reclaim process, simplify the administrative processes for our finance departments and to increase the compliance of our T&E invoices.”

Discover how monsanto saved millions on small invoices via VAT automation

With 23K employees spread across 67 countries, Monsanto was generating a yearly T&E spend of €180 million. Managing the VAT on this spend was proving too difficult for the company to handle. ­­

By partnering with VATBox and SAP Concur, Monsanto gained:

  • A uniform, enterprise-wide VAT recovery process
  • Reduced overhead and streamlined recovery
  • Painless data retrieval via partnerships with existing T&E management systems
  • A cloud-based automated solution with no clutter or need for printed invoices
  • Real-time visibility into VAT data for all global entities

Download this Case Study to learn how VATBox uncovered a VAT recovery potential of more than €2 million simply by focusing on every single invoice across the different entities and jurisdictions, no matter how small.

Exceeding all expectations by recovering 600% more

A diversified industrial manufacturer with global operations had challenges with maximizing VAT recovery from the many T&E invoices generated by extensive business travel. A significant percentage of invoices were not being submitted, translating into huge amounts of unclaimed VAT each year

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Increases Concur engagement and 3x more VAT recovery

A publicly traded American multinational agrochemical and agricultural biotechnology with over 400 facilities across more than 60 countries, faced significant VAT management difficulties on both foreign and domestic T&E invoices. Domestic VAT recovery was handled on a local level, but due to associated complexities and language challenges, many invoices were improperly handled, leading to a serious lack of compliance.

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Delivering an enterprise-wide VAT
recovery solution

An Internet-based retailer with 40 subsidiaries around the globe and separate retails websites for 15 countries WW, required a technologically-savvy VAT recovery tool that could integrate seamlessly with multiple T&E software solutions and retrieve and validate all relevant data in real-time and a 100% entity-to-entity visibility and full compliance.

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