Blue dot, a top tax platform for employee-driven spending for VAT recovery and Taxable Employee Benefits analysis, and Yokoy, a supplier of an all-in-one solution to automate spend management for midsize and big businesses using artificial intelligence, have created collaboration (AI).
Yoko’s spend management platform will be connected with Blue Dot’s AI-powered automated tax compliance solution to allow for the simultaneous analysis and monitoring of business expenditures. Customers will receive a full range of services, including expenditure management, total VAT recovery, and TEB advantages.
Employees of a company still submit the majority of expenditure reports manually, which is costly, challenging, and takes time away from other business obligations.
This collaboration between Blue dot and Yokoy emphasizes the crucial role that automation and technology play in streamlining complicated financial operations inside the contemporary organization by combining the combined capabilities of AI-powered expenditure management and tax automation.
In the dynamic, distributed, and global workplace, Blue Dot speeds the tax analysis and filing procedure, which has become essential for high-growth businesses. Blue dot’s AI-driven platform identifies and processes both fringe benefits to be reported and eligible VAT to be recovered, enabling finance teams to recover VAT on their declaration quickly and easily. The blue dot is committed to protecting enterprises from noncompliance by managing the step-by-step process for spending tax analysis.
This collaboration comes after Yokoy received substantial cash, which it used to advance the technology supporting its expenditure control platform. What began as an expenditure-focused solution has now grown into an all-encompassing platform that integrates cost management, supplier invoice management, and the oversight of smart corporate cards, and automates the corresponding procedures with the use of artificial intelligence.
According to Lars Mangelsdorf, co-founder and chief customer officer of Yokoy, “We have been building our SaaS offering into an end-to-end automation solution for our portfolio of customers for years. We can be sure that our clients now have access to a best-in-class product with increased tax compliance assurance by merging Blue dot’s supplementary tax analysis capabilities with our extensive AI-driven spend management platform.
