Leverage the digital data with simple use cases
- 1Reconcile purchase invoices with PO and GRN as well as data available in GSTR 2A & 2B before recording the purchases.
- 2Post only authenticated e-Invoices and data available on GSTN in ERPs
- 3Store the invoice data in digital format in your ERP or data warehouse
About Invoice IDP
AI/ML based invoice data extraction with Intelligent Document Processing to manage and store the required information in digital format at ease.
Automated VAT return preparation and compliances
250+ successful ERP integrations across the globe
400+ data validation
Advance security & encryption features
Avoid potential delays & submit VAT obligations to jurisdictions directly
ITCP (Indirect Tax Compliance platform)
Automated VAT Return Preparation & Reporting Management Software for Enterprise
R1
Retrieve
Raw data from Heterogeneous Data sources
R2
Remodel
Data into structured Information
R3
Recalibrate
Analysis via rule Based engine
R4
Review
Insights and correct errors
R5
Return
Preparation
R6
Reporting
To stakeholders Including government authorities
R7
Record
Keeping for audits
Highlights of our Indirect Tax Compliance platform
About VAT returns
Corporations and accounting firms operating in the UK, Europe, and further afield are required to navigate a dynamic indirect tax regulatory landscape. Businesses incur significant costs managing VAT return compliance processes and data validation. Our Tax Transformation Indirect Tax Compliance Platform helps all sizes of businesses to achieve compliance by providing a centralized, scalable, and automated solution to accurately prepare and file VAT returns in the UK, EU, and further afield.
A comprehensive end-to-end solution encompassing the many features
- Robust multi-country SAAS VAT compliance solution
- Seamless integration with multiple source systems
- Easy to use and intuitive user interface
- Compatible with any size of business in any industry
“Cygnet Digital’s Indirect Tax Software Solution is built and supported by our expert tax professionals. The software is updated regularly for tax and system logic ensuring full compliance with current legislation and delivering a comprehensive automated cloud-based solution that is fast, accurate, and easy to use”
Here’s how the VAT return solution will help to automate your tax processes,
- Extract, clean, merge and use data from multiple source business systems, i.e., POS, ERPs, CMS, accounting systems, and others at transactional, summary, and line levels using SFTT/FTP, SSIS, API connectors, and more
- Centralize all your entity’s VAT reporting, data collection, return preparation, and filing across multiple jurisdictions on a single platform
- Prepare accurate and error-free VAT returns, reclaims, EC sales lists, partial exemption reports, and more using the tax rule engine for applicable European & UK jurisdictions
- The dashboard presents an in-depth view of statistics & insights related to VAT data and filing deadlines
- Detailed audit trail to ensure good governance and control of VAT management and processes
- Never miss the action with complete visibility of your compliance and submission deadlines
- From generating invoices to filing returns, link your system directly to tax authorities such as HMRC & others
- Keep the data secured with VAPT, ISO 9001, ISO 27001, CMMI-3 certification and more
- Convert Amazon tax report to ready-to-file VAT returns & easily manage distance selling thresholds along with multiple data validations
- Quick and easy generation of Foreign VAT recovery claims across Europe
- Fully automated foreign currency translation, converting transaction amounts into local currency for VAT return filings
Case Study
An accounting firm improved data quality & reduced VAT returns preparation efforts by 60%
A leading Spanish tax advisory, consulting, and accounting firm achieved high accuracy in indirect tax compliance with help of digital technology and managed resources.