How does RPA impact the Tax Technology?
Technology has made a magnificent impact on how businesses look at their operations. In the post-pandemic era, everyone is searching for opportunities to cut down administrative work or make it more efficient. We are in the fourth industrial revolution, where technologies are accelerating business growth and entitling employees to focus on analytical and strategic activities instead of routine tasks. In this blog I will throw some light on how does RPA impact the Tax Technology.
Robotic Process Automation or RPA is one such tool. It works on straight forward, rule-based tasks. Also, the tool is integrated with other ERP systems and analytical tools. Deloitte’s report indicates that as half of the activities performed today are administrative and labor-intensive, 16% of those are good candidates for automation. They will be replaced by 2025, changing the focus to strategic roles.
Here we are discussing one such use case of automation tool in downloading and keeping track of airline expenses and understand how RPA impact the Tax Technology.
Airline Invoice Tracker — RPA impact the Tax Technology
Professionals travel a lot in flights with booking, rescheduling and cancellations being a common trend. Tracking and tracing all these flight tickets could be a cumbersome task for the finance department. One relief is that businesses can claim the GST amount paid on such flight tickets as credit for input services. However, one requirement of claiming such credit is to keep track of all tax invoices.
Fortunately, our automation tool makes this process hassle-free. You only need to provide the invoice number or PNR number of the flight tickets. This tool has an AI-based bot that will search the airline website and download tax invoices issued and save it for future reference. Also, it can read the invoice and extract essential information in a CSV file for accounting. Our team will investigate your requirements and will customize the tool to suit your needs. These were some instances in how RPA impact the Tax Technology.
Mobifly offers various tools and solutions that enhance the efficiency of Tax Technology through RPA.
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