Digital Tax Hub for one of the Big Four Accounting Firm
The client is building a Digital Tax Hub; it is like TurboTax for digital tax. Many countries like India, Mexico, Spain have digitized their tax collection. Here every invoice needs to be submitted to the Government, and then various kind of taxes are calculated. The client is building a tax hub, where multinational companies will send all their invoices, GL, COA and Trial Balance to Client. Client will then file these invoices with the government and provides overall compliance guidance and tax saving opportunities.
It is a daunting task for our client. There are about 34 countries identified for this solution; every country has its own rules, language, and practices. Client needs to collect data (Invoices, GL, Trial balance) from customer’s ERP system and then map it to their standard data model. Client also needs to build a standard data model and then build a rules engine to cover various kinds of tax rules, specific to each country.
It is a multi-year project as client is committed to building this solution on MS Azure. They picked OvalEdge for their cataloging needs as there would be thousands of clients, and their dozens of ERP systems which they need to map with their standard data model. Client wants to leverage various functionalities of OvalEdge in their solution, so they got OEM deal for this project. They also hired OvalEdge to be their primary vendor to build this solution for client along with their internal team.
Aha! moments because of OvalEdge
OvalEdge become their sales tool: Client is building the solution, as well selling to multinational companies. Within a month OvalEdge is setup to create a comprehensive solution from raw data to analytics. They are using OvalEdge as their sales tool that how client (Big 4) manages their customer’s data. By doing this they have already signed the SOW with largest multi-national operating system vendor & largest multi-national consumer product company.
In record 3.5 months, Phase 1 of the project is live and various multi-national companies are using the product to understand the impact of regulation on their company.