Enterprise platform that provides insights into VAT savings on travel spend now available through BCD Travel's SolutionSource® marketplace
CHICAGO, August 1, 2019 /PRNewswire/ -- VATBox, the recognised technological leader in the VAT/GST recovery domain, announced its partnership with BCD Travel, a global travel management company that offers the full spectrum of corporate travel-related services across 109 countries. BCD travel leverages VATBox's platform to provide its customers with an optimised VAT/GST recovery process, as well as insightful analysis into their total travel spend per employee, so companies can clearly isolate any spend that is booked out of policy.
After seeing success firsthand with VATBox's services for its own VAT recovery and travel spend analysis, BCD Travel now recommends VATBox as a technology solution to its clients. According to Marcel de Wit, Head of Tax at BCD Travel, BCD Travel's partnership with VATBox has allowed the company to automate and optimise its own and its customers' VAT reclaim processes, improve invoice compliance and make the traveller's life easier. BCD Travel has now implemented VATBox for clients across all European countries and is in the process of adding non-European countries.
With the ability to integrate with different Expense Management Solutions, VATBox's platform is a good fit with BCD Travel's technology roadmap. De Wit explains, "We are rolling out our new SolutionSource technology platform – which will be well aligned with VATBox – allowing the two companies to share information, and enabling our customers to benefit from robust travel expense reporting."
"The integration of BCD Travel and VATBox will change the role of the tax and finance managers by allowing them to take a proactive role in travel management. VATBox automates the complete end-to-end process and provides valuable insights for HR, procurement, finance and tax departments. So, in addition to optimising the VAT reclaims process, there is significant added value coming from the VATBox audit process for multiple stakeholders within the company."
"We are proud that BCD Travel has chosen VATBox as one of their authorised technology partners for enhancing corporate travel programs," said Isaac Saft, CEO and Co-founder of VATBox. "Our unique tax compliance technology addresses corporate RegTech challenges and provides important value and insight for tax leadership". Roderick De Greef Managing Director EMEA North & West at VATBox added that, "This partnership is an important element in VATBox's broader collaboration with travel market leaders, aimed at optimising our platform for organisations globally."
As de Wit summarised, "It is all about data, and VATBox's portal provides us with the reporting, analytics and business intelligence for our customers and ourselves to optimise processes and further increase the value we bring to the business."
About BCD Travel
BCD Travel helps companies make the most of what they spend on travel. We give travelers innovative tools that keep them safe and productive, and help them make good choices on the road. We partner with travel and procurement leaders to simplify the complexities of business travel, drive savings and satisfaction, and move whole companies toward their goals. In short, we help our clients travel smart and achieve more. We make this happen in 109 countries with almost 13,800 creative, committed and experienced people. And it's how we maintain the industry's most consistent client retention rate, with 2018 sales of US$27.1 billion. For more information, visit www.bcdtravel.com.
VATBox has successfully digitised the VAT/GST recovery workflow with its cloud-based enterprise recovery solution. Using intelligent automation, VATBox helps large corporations – including Fortune 500 companies – gain actionable insight into their transactional data, empowering finance and tax professionals with full data integrity, tight compliance and maximum savings. Fusing AI and Computer Vision with human expertise, VATBox provides a full spectrum of VAT/GST audit and recovery services. Benchmarks for tax, finance and procurement – aimed to encourage process improvements and compliance – are all collected in one easy-to-use portal with drill-down capabilities into every single transaction, no matter how small. Our expert team is just 'one-click' away, ready to help you start making data-driven decisions today. Contact VATBox at www.vatbox.com
For more information please contact:
Liat Arbesman – VP Marketing