Last Updated on: 22nd November 2023, 12:15 pm
Today Innovate Tax announced the launch of LimeLyte® Entity Manager, a new tool designed to revolutionise VAT number validation and master data cleansing for tax teams. The technology enables users to validate VAT numbers and other core data from tax authority portals in a matter of seconds.
Andrew Bohnet, founder and head of product development at Innovate Tax, said: “We’re so excited to bring a pioneering product to the market and to our portfolio of automated tax solutions. We have spent the last 10 years helping our clients understand the importance of data in the tax compliance process and this is the first of our tools that helps them find, resolve and most importantly prevent issues from happening.”
LimeLyte® Entity Manager offers tax teams unprecedented speed, accuracy and reliability. Not only does it validate the status of a VAT number, it also scrutinises and cleanses master data at every stage from entry to eventual use. With its simple traffic light system, users can instantly identify any red flags from the tax authority, allowing them to correct them rapidly. Furthermore, the tool automatically re-checks numbers every two months to ensure they remain valid, and keeps a record of all alterations to ensure full traceability.
The launch of LimeLyte® Entity Manager comes at a pivotal point in the digitalisation of tax, as many countries have implemented mandatory e-invoicing and the European Union’s VAT in the Digital Age (ViDA) reforms.
Andrew added: “LimeLyte® Entity Manager is different. Its functionality and coverage is unrivalled. It offers tax professionals the chance to remove time-consuming, error-strewn manual processes from their workloads and replace them with cost-effective, fast and robust automation. We believe the arrival of LimeLyte® Entity Manager is a cornerstone for the tax technology market and will revolutionise the way data is managed by tax teams across the world – at exactly the time in history that the requirements for finance professionals to scrutinise and submit data are growing exponentially.”
The tool is available on a one-year fixed term with a renewal option, with users able to select from two packages. LimeLyte® Entity Manager is the first entry in Innovate Tax’s original and unrivalled Data Validation Services suite to be brought to market, with the full suite launching in summer 2023.
Today, Innovate Tax launched its new tool, LimeLyte® Entity Manager, designed to revolutionise VAT number validation and master data cleansing for tax teams. The technology connects directly with the world’s major tax authority portals, allowing users to validate VAT numbers and other critical data in huge volume in a matter of seconds. It also keeps a record of all alterations to ensure full traceability, providing a crucial defence during any future VAT audit.
Andrew Bohnet, Founder and Head of Product Development at Innovate Tax, said: “We’re so excited to bring a pioneering product to the market and to our portfolio of automated tax solutions. We have spent the last 10 years helping our clients understand the importance of data in the tax compliance process and this is the first of our tools that helps them find, resolve and most importantly prevent issues from happening.”
He added: “LimeLyte® Entity Manager is different. Its functionality and coverage is unrivalled. It offers tax professionals the chance to remove time-consuming, error-strewn manual processes from their workloads and replace them with cost-effective, fast and robust automation. We believe the arrival of LimeLyte® Entity Manager is a cornerstone for the tax technology market and will revolutionise the way data is managed by tax teams across the world – at exactly the time in history that the requirements for finance professionals to scrutinise and submit data are growing exponentially.”
The tool is available on a one-year fixed term with a renewal option, with users able to select from two packages. LimeLyte® Entity Manager is the first entry in Innovate Tax’s original and unrivalled Data Validation Services suite to be brought to market, with the full suite launching in summer 2023.
Innovate Tax today announced the launch of LimeLyte® Entity Manager, a new tool designed to transform VAT number validation and master data cleansing for tax teams. The technology connects directly with the world’s major tax authority portals, enabling users to validate VAT numbers and other critical data in huge volume in a matter of seconds. It also creates an audit trail of all master tax data changes, providing users with an assurance of quality and compliance.
Andrew Bohnet, Founder and Head of Product Development at Innovate Tax, said: “We’re so excited to bring a pioneering product to the market and to our portfolio of automated tax solutions
