Enterprise Indirect Taxation Management
Comply with all indirect taxation requirements through an enterprise solution for all aspects of
taxation.
Why Xelerate?
SunTec’s cloud-based Indirect Tax Management on Xelerate platform is uniquely designed as a digital innovation middle layer. It can easily integrate with the bank’s existing technology landscape. It is an out-of-the-box solution designed to de-clutter core systems, extract the indirect taxation logic and ensure smooth journey towards indirect tax (GST and VAT ) compliance. It comes equipped with pre-set rules and definitions that can be easily parameterized. SunTec’s Indirect Tax Management system on the cloud is a fully configurable framework that ensures the shortest turnaround to accommodate frequent regulatory changes.
Features of SunTec’s Tax Management
Centralized Management
Simplifies processes and eliminates complexity by centralizing management
End-to-end Management
Support for the end-to-end process including input tax, output tax, returns management
Highly Flexible Framework
Flexible and configurable allowing maintenance and easy management of frequent
regulatory changes
Automated Data Generation
Automated end-to-end process with minimal manual intervention
Correction and Refund Management
Optimized management of refund and corrections
"Businesses need a centralized platform to manage tax segregation, accounting, invoicing and exemptions to achieve compliance."
With over 200 indirect tax features pre-packaged into a simple and effective product, Xelerate is uniquely designed as an out-of-the box solution for compliance management. It can easily be set up as a comprehensive taxation solution that can de-clutter core systems, bring out the indirect taxation logic and ensure a smooth journey towards regulatory compliance.
Benefits
Eliminate complexity by centralized management of tax determination rules across diverse
business systems
Centralize and standardize through an enterprise-level capability across all geographies and
entities
Be ahead of the volatile regulatory framework with the hyper-agile framework that enables
smooth transition
Manage high volumes through high scalability and real-time processing capabilities
Reduce cost of tax determination and reporting with automated processing and
reconciliation facilities
Mitigate risk through end-to-end traceability and rules driven control with auditability
Our Latest Insights
The VAT landscape is evolving within the GCC, and therefore, there is a need for a solution that offers agility to respond to these changing regulatory requirements.
Customers today demand more value out of their relationships with their service providers. Banks must, therefore, develop an ‘Experience-First Mindset’, moving away from the traditional products and services mindset.
Small and medium-sized enterprises are the backbone of any economy; they inspire innovation, create jobs and fuel economic prosperity.