Importance of clean, transparent data

Trading and operating as a business in the digital era comes with a unique set of ever-evolving challenges which have coincided with the data-driven economy.

The process of how businesses communicate with each other and governments has already changed irreversibly. We have seen a sweep of digital transformation to tax processes and finance functions being the focus for the past 20 years in an attempt to reduce fraud and close outstanding VAT gaps.

The further we move into digital processes the more data companies are generating – and the way this data is managed and interpreted is reaching far beyond the capabilities of humans. So much so global organisations such as the Organisation for Economic Co-operation and Development (OECD) have broadened their remit to tackle the issue and share best practices on how to mitigate against national VAT gaps non-compliance and ensuring fair and legal trade...