Following GBTA Convention 2018, we take a look at the latest trends, changes and progressions in the industry.
Workforces Are Increasingly Mobile
The need for mobility in the modern workplace is quickly becoming non-negotiable. More and more employees are expecting to work on mobile devices; more partners and suppliers are being based on mobile-enabled solutions; and as technology advances in the coming years, businesses that don’t go mobile risk falling further behind.
Gone are the days of being stuck at a desk from 9 to 5. The work environment is no longer limited: and as a result, mobile working is increasing and this is becoming a more attractive lifestyle.
Who Are The "Mobile Workers"?
By 2020, mobile workers will account for approximately three-quarters, or 72.3% of the U.S workforce, and 40% of the global workforce. The lifestyle offers a better work/life balance, and often suits the way in which companies’ carry out business. It is now easier to have people on the ground in more locations, and with a more diverse range of language capabilities.
With flexible options available from various companies, millennials don’t see working remotely as a perk. They demand it. Apart from the convenience of working from the comfort of your own home or local hub, workers also cite being more satisfied with their jobs, less stressed and more likely to perform better. Greater job satisfaction means higher retention rates, higher overall results and performance from remote workers.
Mobile Working Presents Big VAT Opportunity
Remote workers still travel abroad, meet clients, and clock up bills on their corporate cards, but they are not in the office to submit these expenses. If your company doesn't have sufficient solutions in place to easily capture these expenses from your mobile workers, you may be missing a huge VAT opportunity.
Corporate credit cards and travel booking platforms offer ease of use for all employees and compliance management for the employer, ensuring the correct procedures are in place.
When everyone has easy access to relevant software, there is less fumbling with receipts and less chance of important data going missing.
VAT Reclaim Made Easy
At Taxback International, we integrate seamlessly with the largest expense management systems and corporate card providers worldwide. Powerful automation and the simplicity of our technology are the driving force behind our partnerships, ensuring a seamless experience for all users.
Employees can upload their invoices on the go to EMS’s such as SAP Concur, Chrome River, Coupa, just to name a few. The VATConnect - Real Time Validation app gives mobile workers the perfect solution to validate receipts and invoices on the go. This is all presented in a graphical interface giving clients the opportunity to drill down the granular level detail of each individual transaction thanks to our VATConnect - Analytics.
So what are you waiting for? Get in touch with Taxback International today to see how our brand new VATConnect platform ensures your mobile workers submit receipts/invoices correctly - making for a bigger VAT reclaim!
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