This blog was last updated on April 25, 2016
We are proudly sponsoring one of the largest Shared Services Conferences in Europe – The 16th Shared Services & Outsourcing Week. This three day event from the 24th to the 26th of May will take place in Dublin this year under the theme of “driving strategic value through Automation, Process, Excellence and Data.”
According to research, around 60% of companies are looking to centralize their VAT processes in the next three years and Shared Service Centres are becoming increasingly popular for tax functions to gain cost and time efficiencies.
Should this be a consideration for your company, we are offering you or your colleague a special discount of 20% when mentioning SovosVIP to learn more about shared services optimisation.
To register and learn more about this conference, please call SSON on: +44 (0) 207 368 9809 or:
Email your request at: events@ssonetwork.com
Sovos will offer three discussion and learning sessions on why companies should centralise their VAT processes in an SSC. Jeroen Wensveen our VP of Product EMEA and VAT expert will highlight the business case for VAT centralisation by demonstrating one of our case studies that helped a Fortune 500 company save 50% of their overall VAT related costs and generate time savings of 60%.
Whilst VAT has not had much visibility compared to other tax or finance processes, VAT developments on a European level call for more attention by CFOs and Finance Shared Service Leaders. While just over 20% of companies have KPI’s for VAT visible to CFOs, that number should be alarming when it comes to the significant bottom line impact that automated VAT audits can have on your company’s balance sheet.
Risk mitigation for VAT should start today and while there are many benefits to centralisation of VAT processes, preparing your organisation to the obvious threat of negative audit outcomes is paramount.
As SSC’s come with their own particular challenges, it is recommended to eliminate deviations from standardization as much as possible so on-boarding and training is kept to a minimum and the need for costly specialists to operate processes is limited.
VAT Automation software is able to support cost and time savings by preventing issues and bottle necks that result from staff turnover and the difficulty attached to finding highly qualified people. VAT related returns can therefore be completed on time while being compliant at all times.
We are looking forward to meeting you at the conference!