Enterprise Indirect Taxation Management

Increase customer trust and transparency through accurate billing and prevent revenue leakage. Build an enterprise capability for multi-product, multi-entity and hierarchical invoicing for all stakeholders.

Why SunTec Xelerate?

SunTec’s cloud-based Indirect Tax Management on the SunTec Xelerate platform is uniquely designed as a digital innovation middle layer. It can easily integrate with the bank’s existing technology landscape. It is an out-of-the-box solution designed to de-clutter core systems, extract the indirect taxation logic and ensure a smooth journey towards indirect tax (GST and VAT ) compliance. It comes equipped with pre-set rules and definitions that can be easily parameterized. SunTec’s Indirect Tax Management system on the cloud is a fully configurable framework that ensures the shortest turnaround to accommodate frequent regulatory changes.

Features

Centralized Management

Simplifies processes and eliminates complexity by centralizing management

End-to-end Management

Support for the end-to-end process including input tax, output tax, returns management

Highly Flexible Framework

Flexible and configurable allowing maintenance and easy management of frequent regulatory changes

Automated Data Generation

Automated end-to-end process with minimal manual intervention

Correction and Refund Management

Optimized management of refunds and corrections

Benefits

• Eliminate complexity by centralized management of tax determination rules across diverse business systems
• Centralize and standardize through an enterprise-level capability across all geographies and entities
• Be ahead of the volatile regulatory framework with the hyper-agile framework that enables a smooth transition
• Manage high volumes through scalability and real-time processing capabilities
• Reduce the cost of tax determination and reporting with automated processing and reconciliation facilities
• Mitigate risk through end-to-end traceability and rules-driven control with auditability