Optimizing VAT Recovery for Amdocs
Overview
Amdocs Ltd. is a global leader in software and services for the world’s most successful communications and media companies. Headquartered in Chesterfield, Missouri, with operations in over 85 countries and 30,000 employees, Amdocs specializes in delivering innovative solutions for digital network transformation, customer experience, and IT modernization. With a reputation for excellence, Amdocs is a trusted partner for some of the largest communication providers globally.
Challenge
Amdocs faced significant challenges in reclaiming VAT for its extensive business travel operations. With 2,000 traveling executives generating around 5,000 trip reports annually for a single division in EMEA and an average spend of $1,350 per trip, the volume of data and transactions required a streamlined solution. The process involved managing 70,000 digital files quarterly, making manual processing prone to inefficiencies, errors, and missed opportunities to maximize reclaim potential.
Solution
Way2VAT partnered with Amdocs to develop a fully automated VAT recovery solution tailored to their operations. This included:
- Custom Integration with SAP ERP: Designed to pull and process 70,000 digital files quarterly, ensuring smooth data transfer without manual intervention.
- Automated Submission: Way2VAT’s system automatically created and submitted VAT claims in compliance with the VAT laws of over 15 countries, including the UK, Germany, Italy, The Netherlands, Austria, Spain, and Australia.
- Error and Fraud Detection: Advanced algorithms flagged duplicate receipts, discrepancies, and human errors to ensure compliance and accuracy.
- Supplier Recommendations: Way2VAT identified hotel suppliers eligible for VAT reclaims, increasing returns and reducing overall business travel costs.
Results
- Financial Returns: Amdocs recovered $1.5M in foreign VAT through Way2VAT.
- Streamlined Operations: Automation eliminated manual effort, reduced errors, and optimized the reclaim process.
- Improved Oversight: The finance team and VAT Manager utilized Way2VAT’s web app for real-time tracking, reporting, and comprehensive business travel analysis.
Key Takeaway
Way2VAT’s tailored solution enabled Amdocs to efficiently manage its large-scale VAT recovery operations, maximizing returns and ensuring compliance across multiple jurisdictions.