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Technology-driven Transformation Helped Reduce Manual efforts by 80% For a UAE-based MNC

The retail business leveraged the potential of Cygnet’s R7VAT tool to automate indirect tax data management, gain valuable insights, make smart decisions and enhance productivity.

80%

reduction in manual efforts

4-8

man-months saving

Increased

organizational efficiency

Client Overview

The client company is one of the largest conglomerates involved in retail, hospitality and leisure, healthcare and mall management.

Industry

INDUSTRY

Retail

Location

LOCATION

UAE

Company Size

COMPANY SIZE

50,000+

Business Challenge

Business Challenge

The client’s retail stores managed volumes of data from sales and financial activities manually. It imposed challenges of maintaining and quickly retrieving critical, tax-relevant data for filing tax returns, generating FTA audit files, streamlining tax compliance, and supporting tax planning.

Transformation

Transformation

Cygnet experts engineered centralized data warehouse system and automated the VAT returns preparation, audit file generation and input tax apportionment as per the government norms within minutes.

TECHNOLOGY

Microsoft, Elastic-search, Radis (caching), Spark 2.3.2

TOOLS

ASP.Net 4.6.2, SQL, VS Studio 2017, Radis, MS Office, Sonar-lint, Spark 2.3.2

METHODOLOGY

Agile

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