Efficiency Boost
“Taxmatic integration with our webstore pulls transaction data securely to generate VAT filings and records – no spreadsheets, no uploads, no glitches. We get VAT filing reviews completed 90% faster with the Taxmatic service, wiping out needless admin.’’
Sound Advice and Responsive Service
“From onboarding to day-to-day VAT compliance, Taxmatic customer services are great. No more picking our way through lots of paperwork. Now we get tax queries completed online with the record captured on the audit trail. Two wins in one.”
Introducing Lisa Eldridge
Global beauty brand Lisa Eldridge is a headquartered in London, has a growing customer base right across the European Union and around the world. Expanding a global beauty brand leans into innovative tech solutions that support every aspect of the business. The pace at which fashion and beauty trends change brings endless opportunities for innovation but also challenge the business with the speed of change.
The Business Challenge
Lisa Eldridge Beauty began their search for an alternative European VAT solution when faced with several pressing challenges.
Manual processes led to inefficiencies and delays, which in turn consumed a significant amount of the finance team’s time and focus.
The existing service provision ran on slow response times and developed persistent issues with processes, particularly when uploading sales reports in the correct format.
Transition to Taxmatic
The pivotal factor for Lisa Eldridge Beauty when moving to a new VAT solution was the need for comprehensive automation, robust VAT advisory services, and dedicated expert support.
Confidence and Trust
“The guys took control of the transition process to the new platform, with minimal effort required from our end, so we had a smooth transfer from our existing partners.’’
“Taxmatic tax advisors completed a thorough review of previous VAT filings, paying close attention to import declarations and identifying VAT reclaim opportunities that had been missed. Their attention to detail and proactive approach has been great. The team’s speedy response times to queries gives us the confidence and assurance we need that all is working well into the future.”
Elevating Operations
“The Taxmatic platform’s user interface is easy to navigate, and intuitive to use. It’s streamlined our VAT compliance process and solidified Taxmatic as a reliable and trusted partner.”
Taxmatic supports Lisa Eldrige’s finance team elevate their business with expert guidance and efficient solutions for EU VAT compliance, particularly through the IOSS registration and setup.
When the leadership team took the decision to fulfil some EU orders directly from their UK warehouse, Taxmatic confirmed IOSS registration would be an ideal solution for these supplies.
“Once the decision was made, Taxmatic obtained the IOSS registration within a week of our request. Our IOSS registration was instantly integrated on the Taxmatic platform, and the system’s logic automatically allocated orders to the IOSS VAT return, generating the appropriate reports for our monthly VAT filings.’’
Tips to Transition Vat Compliance Processes
- Develop the list of must-haves you expect from a new service provider. Then stack rank these priorities to align with your business goals.
- List out the pros and cons of sticking with the current service versus switching to a new provider. Contrast the status quo with benefits and costs of a more reliable and efficient VAT compliance process.
- Develop a business transition plan with timelines, team responsibilities, identify the most efficient data integration process, and set the expected customer service level.
- Get your team involved in the project to capture existing process flaws and move forward with a service your team have confidence in.
- Define the key performance indicators (KPIs) you will use to monitor the effectiveness of the new VAT compliance service. Share these KPIs with service providers so both businesses are aligned and informed.
By following these steps, your eCommerce business company can better navigate the transition process to new services with clear outcomes.
