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BOGNOR REGIS, UK, [DATE]
Innovate Tax today announced a major expansion of its global Tax Registration Number validation and verification capabilities through a new collaboration with Infobel, a leading provider of global business and company data.
Innovate Tax has begun integrating Infobel’s premium company data into LimeLyte® Entity Manager (LLEM), its indirect tax master data management platform. The integration will significantly increase the number of countries and businesses that Innovate Tax can support, while improving the quality and depth of the information available when validating customers and suppliers.
Infobel’s global data platform provides access to more than 380 million company records across over 200 markets, including more than 256 million tax identification numbers.
The collaboration will allow Innovate Tax to combine its existing tax authority connections, public data sources, proprietary validation logic and accumulated tax data with Infobel’s extensive premium content.
Rather than requiring clients to use premium data for every check, Innovate Tax will offer a flexible, cost-effective approach. Clients will be able to use public and free validation services wherever suitable, with the option to check Infobel’s premium data when the required information is unavailable, incomplete or inconclusive through those sources.
This approach gives clients greater global coverage and improved data quality without automatically applying a premium charge to every validation.
The integration also introduces greatly expanded reverse lookup capabilities. In addition to checking whether a supplied VAT, GSTGoods and Services Tax or other Tax Registration Number is valid, Innovate Tax will be able to search for a company using information such as its name and address and identify a possible Tax Registration Number.
This will be particularly valuable during master data audits and remediation projects where customer or supplier records contain missing, incomplete or potentially incorrect registration numbers.
At the heart of the service is Innovate Tax’s smart, source-agnostic APIApplication Programming Interface. APIs are an accessible way to extract and share data within and across organisations. architecture.
Clients connect to Innovate Tax through a single point of access, whether they use the LimeLyte® Entity Manager Plugin, the Innovate Tax validation API or the full LimeLyte® Entity Manager governance platform. Behind that connection, Innovate Tax applies country-specific logic to determine which permitted source should be used for each request.
Depending on the client’s configuration, the service can check an official tax authority, another trusted public source, Innovate Tax’s existing data or Infobel’s premium content. It can also incorporate data sources separately licensed or supplied by the client.
This means organisations are not locked into a single data provider or required to build and maintain separate integrations for every country. They connect once, define their preferred validation policy and allow Innovate Tax to manage the complexity of identifying and using the most appropriate source.
Andrew Bohnet, Managing Director of Innovate Tax, said:
“Companies should not face unnecessary costs simply for making sure the data they rely upon is correct.
“Our approach is to use the most appropriate and cost-effective source for each check. If a trusted public service can provide the answer, clients should be able to use it. If the information is unavailable or incomplete, they can choose to use Infobel’s premium content to obtain the additional coverage and data quality they need.
“The addition of Infobel’s data is a major step forward. It substantially increases our reach, strengthens the quality of the information available to our clients and gives us far greater reverse lookup capabilities. This means we can help organisations not only validate the Tax Registration Numbers they already hold, but also identify possible registration numbers where critical information is missing.
“What makes LimeLyte® Entity Manager different is that clients still have one connection and one consistent process. Our smart API manages the complexity behind the scenes, determining which permitted data source should be used based on the country, the type of request and the client’s chosen configuration.
“Infobel becomes an extremely valuable part of that network, but our architecture remains completely source-agnostic. If a client has its own licensed data, a preferred country-specific service or another authoritative source, we can incorporate that as well.
“This is another important step in the evolution of LimeLyte® Entity Manager and our wider objective of helping organisations maintain accurate, reliable and audit-ready tax master data in the fastest, easiest and most cost-effective way possible.”
LimeLyte® Entity Manager goes beyond point-in-time validation by continually monitoring customer and supplier tax data, identifying changes and discrepancies, retaining validation evidence and providing a complete historical audit trail.
By combining these governance capabilities with Infobel’s global premium data, Innovate Tax can provide organisations with a more comprehensive way to validate, verify, discover and continuously manage tax registration data across their global operations.
ENDS
