Success Stories

ONESOURCE Indirect Tax Compliance Implementation for Plastics & Chemicals Global Marketing Company

About the client

Global Marketing and distribution company having a presence across 6 continents and 35 countries with sales in excess of 110 countries, bringing value to the world’s leading producers and users of plastics and chemicals through the supply of best-in-class products and tailored business solutions.

Problems:

  • A high volume of data located in decentralized locations
  • A time-consuming and complex process of data collection and report preparation
  • Inability to keep track of updates and versions
  • Multiyear analysis and planning were difficult because all the data was stored in silos

Solution:

Innover set forth to design a solution that could provide the client with a single view of all available data. A solution that would ease the process of data collection, and automate the process of keeping track of updates and versions to make data analysis and reporting effortless.

  • Global Implementations of OITC covering all the compliances i.e VAT return, ESL, EPL, Intrastat, Spain SII, Poland SAF-T, etc, for 12 jurisdictions across the UK & EU: Austria, Belgium, Germany, Netherlands, Poland, Portugal, Greece, United Kingdom, Spain, France, Italy, Sweden
  • Automates returns & filings – Standardized and automated the return and other compliance reporting processes across the global business in the local language
  • Data management & risk management – Resolved data issues from ERP systems and managed control across all functions and maintain an audit trail for manual adjustments

Impact Delivered:

25%

Increase in efficiency

18%

Cost reduction

45%

Reduction in Compliance Risk

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