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).
Yokoy’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.
By combining the capabilities of AI-powered spending management and tax automation, this partnership between Blue Dot and Yokoy highlights the vital role that automation and technology play in simplifying complex financial operations inside the modern corporation.
Blue Dot streamlines the tax analysis and filing process, which has become crucial for high-growth firms in the dynamic, dispersed, and global workplace. Finance teams can swiftly and simply recover VAT on their declaration thanks to Blue Dot’s AI-driven platform, which finds and processes both valid VAT to be recovered as well as fringe benefits that need to be reported. By overseeing the meticulous process of expenditure tax analysis, the blue dot is dedicated to safeguarding businesses from non-compliance.
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.
