The refund of input tax amounts from other EU countries is burdensome. It is not uncommon for the cost of manual refund procedures to exceed the tax gain that comes out in the end. With the help of the AI-based software “VAT Returns”, however, the process can now be largely automated.
With the rise of new technologies, shared service centers (SSC) need to constantly adapt their way of operating. A shining example of this trend is Avis Budget Group. Its SSC in Budapest has been supporting the group’s subsidiaries with its expertise for nearly 15 years. Thanks to artificial intelligence (AI) and robotics, Avis Budget Group is continuously driving productivity and the quality of its services. Its collaboration with Finmatics is a case in point. By using AI software, the SSC Financial Services department reduced it’s workload for document handling while improving the quality of its data.