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Datatec case study

Datatec
automates VAT

Reduced VAT process time by 40%
and automated FX adjustments.

Company size

Company size

10,000+ employees

Location

Location

Johannesburg, South Africa

Industry

Industry

ICT solutions and services

Use cases

Use cases with ARKK

VAT automation


Challenge

Datatec Financial Services needed to improve its VAT reporting process, automate FX adjustments, and ensure compliance with MTD while reducing the manual workload of a small team handling a high volume of transactions.


Solution

ARKK implemented a tailored automation solution that simplified VAT reporting and streamlined FX adjustments, resulting in greater accuracy, enhanced efficiency, and easier management of VAT compliance.


Outcome

Datatec achieved a significant reduction in VAT process time and eliminated manual data entry errors, freeing up valuable resources for more strategic tasks.

40%

reduction in VAT reporting time

99%

automation of FX adjustments


Details

A global tax challenge with manual processes

Founded in 1986, Datatec is a leading global ICT solutions and services firm, with an annual turnover of £3.3 billion and over 10,000 employees worldwide. As a global business, Datatec faces inherent complexity in its financial processes, particularly its VAT returns.

Datatec Financial Services, a subsidiary providing financing solutions to customers, had been grappling with outdated manual processes. The manual handling of foreign exchange (FX) adjustments was time-consuming and prone to data entry errors. Gayle Hares, CFO of Datatec Financial Services, recognised the need for change.

"HMRC's MTD mandate was the catalyst to make modifications through our VAT process. Our FX adjustments required manual input with secondary controls to minimise errors, which was exceptionally time-consuming for our staff. We knew that automation was crucial to improve efficiency and control of our VAT process."
– Gayle Hares, CFO, Datatec Financial Services

Customising automation for FX adjustments

Understanding the challenge, ARKK worked closely with Datatec to create a tailored solution. The primary goal was to automate FX adjustments while reducing manual intervention and mitigating error risks. ARKK's bespoke workflow eliminated the need for secondary validation controls and ensured greater accuracy in the FX data conversion process.

"ARKK listened to our issues and created a tailored solution that removed an obstacle we had for many years. Their solution meant minimal intervention from us, and any elements that did require our involvement were clearly explained. The end result is a highly intuitive workflow that is easy to understand and a breeze to make FX alterations."
– Gayle Hares, CFO, Datatec Financial Services

Efficiency gains and simplified VAT management

Thanks to ARKK's bespoke solution, Datatec Financial Services saw a 30-40% reduction in the time spent compiling, preparing, and submitting VAT returns. This significant time-saving enabled the team to shift focus to higher-priority, value-added tasks, improving productivity across the business.

In addition to the FX adjustments, ARKK’s platform provided a streamlined VAT process, simplifying workflows and ensuring that Datatec remained compliant with MTD regulations.


Get in touch

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