SunTec’s cloud-based Indirect Tax Management on the SunTec Xelerate platform is uniquely designed as a digital innovation middle layer. It can easily integrate with the bank’s existing technology landscape. It is an out-of-the-box solution designed to de-clutter core systems, extract the indirect taxation logic and ensure a smooth journey towards indirect tax (GST and VAT ) compliance. It comes equipped with pre-set rules and definitions that can be easily parameterized. SunTec’s Indirect Tax Management system on the cloud is a fully configurable framework that ensures the shortest turnaround to accommodate frequent regulatory changes.
Simplifies processes and eliminates complexity by centralizing management
Support for the end-to-end process including input tax, output tax, returns management
Flexible and configurable allowing maintenance and easy management of frequent regulatory changes
Automated end-to-end process with minimal manual intervention
Optimized management of refunds and corrections
Eliminate complexity by centralized management of tax determination rules across diverse business systems
Centralize and standardize through an enterprise-level capability across all geographies and entities
Be ahead of the volatile regulatory framework with the hyper-agile framework that enables a smooth transition
Manage high volumes through scalability and real-time processing capabilities
Reduce the cost of tax determination and reporting with automated processing and reconciliation facilities
Mitigate risk through end-to-end traceability and rules-driven control with auditability
