German Trade Tax Allocation, Tax Process Automation, Process Improvement
SPIRIT BEHAVIOURS
Get it Done Together, Create the Future
The complicated workflow of the German Trade Tax allocation process was resource intensive. Each item of the pending items open list required manual allocation of details. We automated the allocation process to make it easy. The automation process improvement helped us in the timely preparation of prompts and reports of the tax payments, making the whole process simpler and faster.
Challenges and Solutions
Challenges
The German Trade Tax allocation process had a relatively complicated workflow and required a lot of resources. The Tax open item list had more than a thousand pending items related to German Trade Tax payments, for which we manually did the necessary allocation details.
Solutions
With closer collaboration with the treasury team, we defined the keywords and checkpoints to help automate the allocation process, making it quicker and less resource intensive. We also implemented a new step to check and validate the allocations according to these keywords.
Value and Impact
Allocation process became simpler, faster, and more efficient.
Can now prepare prompt and timely reports of the tax payments for the local market.
Our commitment to customer care extends to ensuring a seamless experience when managing invoices and taxes. We understand the importance of these financial aspects and strive to simplify and facilitate the process for our valued customers.
Process Backlog Monitoring Tool, Service Controlling
We developed our process backlog monitoring tool to ensure accurate reporting of financials. Before that, we tracked and maintained these backlogs of unprocessed items through PPT. Now, the new automation tool helps manage backlogs in a better-structured format, providing the benefits of seamless governance, accurate financial reporting, and a more presentable visualized summary.