Who’s it for?

Revolutionize your indirect tax systems with our range of automated EAS solutions and tax technology advisory services

LimeLyte
inFlyte
BriteLyte
Tax Team Tax Team
Finance Team (end users) Finance Team (end users)
IT Department IT Department
CFO CFO
Tax Team

Tax Team

Don’t be fooled, when it comes to indirect tax, having an analytical tool that looks only at historical data is not going to do it for you – why you may ask?

Everything in indirect tax is driven by compliance. Let's face it, the main gatekeeper for compliance is how we report our data. Unless you've been living peacefully on a remote island, you'll know that pretty much every global economy has either already adopted new technology to scrutinize tax compliance, or is planning on doing so imminently...

That's why it's crucial to explore ways of reducing tax fraud and make sure the correct tax is paid; all the new technology ventures either feature faster reporting of data or the collection of even more data. Many tax authorities are capitalizing on ‘Big Data’ where they analyze vast amounts of data to make sure it's correct. So, if you have a mistake in your data - one that you may have manually corrected elsewhere - this will be flagged and the authorities potentially alerted.

The answer is LimeLyte®, our real-time analytics manager. LimeLyte® swiftly checks your data to highlight potential compliance risks. For example, within as little as fifteen seconds, LimeLyte® can tell you that an AP invoice entered in a particular country has a potential tax problem that you can jump on and get it resolved straight away.

This real-time approach is so effective because those users who have made a mistake get to correct it in the system (providing a full audit trail) and they are far less likely to make the same mistakes again. In fact, we have seen a huge 95% drop in user issues for some clients when the ability to check the data is known.

The mantra ‘prevention is better than cure’ is a known truth - LimeLyte® provides the ERP transaction visibility and transparency that you have been desperately waiting for.

Finance Team (end users)

You'd be forgiven if you weren't aware of tax mistakes being made - nine times out of ten, they only come to light during an audit! Regardless, the financial and legal consequences can be huge for any company if they fail to uphold tax compliance.

LimeLyte® is a tool used by your tax department so they can track any potential issues made around the tax determination on transactions and then let you know immediately if you need to make a change.

There are two great benefits for you here; the first is that you get to correct any issues before you have paid or processed the invoice, allowing you to make changes to the transaction immediately.

Secondly, you're able to learn from mistakes you might otherwise not know about and maintain boasting rights that you're doing your job correctly.

The best part? This will minimize any extra work making corrections later on, meaning you'll only get better and better at what you do.

Finance Team (end users)
IT Department

IT Department

You can shift the responsibility of the tax management to your tax department as they now have the visibility of the tax setups and rates without having the capability to change anything.

This reduces any demands form the tax teams looking for information. The large number of analytics and reporting available also minimizes any requests to build bespoke reporting for tax.

CFO

LimeLyte® will singlehandedly reduce the risk of non-compliance for tax more than any other tool (other than our BriteLyte™ offering).

There is no use putting in a tax reporting solution if the data going into these reports is wrong, and the purpose of LimeLyte® is to ensure that that data is perfect.
LimeLyte® shifts the focus of a tax team from frantically trying to find issues (making time consuming and now often non-compliant manual adjustments at the end of the month when it is too late) to when the issue happens - freeing up the month end for a faster close.

CFO

Interest piqued?

    Complete this form to get notifications sent straight to your inbox

  • By selecting ‘Sign up’ you consent to our Terms of Use and Privacy Policy. You agree to receive emails from Innovate Tax about its products and services and can opt out of notifications at any time. We will never share your details with any other third party.

  • * required information

Rather speak to someone? No problem.

Click below to schedule a call back from one of our specialists at a time to suit you.

Speak to us
X
X