In the first part of this session, Peter Aling and Andrew Foster will look at the balance between economic constraints and the need for investment in intelligent automation to add value in terms of efficiencies, scale and effectiveness. They'll discuss how organisations can approach technology investment to help their cost containment down the line, when those technologies require upfront resources.
Kerrin Barker will then talk about how constant changes in VAT compliance regulations globally are unavoidable, and businesses often require substantial technological support to address new reporting requirements sufficiently. Real-time tax compliance, digital records, transactional-level data and real-time reporting are hot topics in the VAT reclaim space, but the challenge lies in the quality and availability of data in source systems.
AI technology and automation tools will drastically improve efficiencies and enhance VAT compliance and reporting—on a scale and speed beyond human capability.