Blue dot, a tax compliance platform for employee-driven spending for VAT recovery and Taxable Employee Benefits (TEB) analysis, has launched a new partnership with Rydoo, an international SaaS software solution for managing business expenses. The partnership offers a one-of-a-kind, AI powered solution empowering Rydoo customers with unprecedented visibility and control within the Rydoo workflow, and effortless VAT compliance and support for taxable employee benefits, also known as fringe benefits or benefits-in-kind.
According to The Accenture Future of Work Study, 63% of high-growth companies have already adopted a “productivity anywhere” workforce model, ushering in a new era of consumer-style enterprise spending and, with it, new challenges for businesses looking to maintain tax compliance along with expenditure regulations. This partnership between Rydoo and Blue dot will afford Rydoo clients a reliable, accurate and automated solution to accelerate financial processes and ensure effortless tax compliance and automation of VAT recovery and Taxable Employee Benefits (TEB) across the enterprise.
“High-growth companies require a scalable solution that addresses the complexities of the current consumer-style spend landscape, and automation is the key,” said Isaac Saft, CEO & Co-Founder of Blue dot. “Joining forces with Rydoo to leverage smart AI and ML tech solutions will ensure companies can meet head-on the challenges they face in an ever-changing ecosystem while boosting efficiency, visibility, and compliance.”
Rydoo’s AI-powered integrated solution streamlines, simplifies, and automates the spend management process, enabling on-the-go expense capture and submission while staying compliant with local regulations. Through this partnership, Rydoo’s customers will gain access to Blue dot’s database of rules and regulations and best practices across national and domestic jurisdictions updated in near real-time to ensure compliance.
“We are constantly looking for new ways to help our customers bring out the best in their teams — this partnership will help us do just that,” said Justin Borja, Head of Partnerships at Rydoo. “We are thrilled to round out our product with this integration and provide our customers with the added value of Blue dot’s AI-driven technology to improve visibility into their taxable spend.”
Supported by Blue dot technology, Rydoo customers will now enjoy the benefits of advanced automated tax tech, perfecting invoice reading (OCR) and matching, providing powerful analytic capabilities and insights with unprecedented data integrity and validation, and safeguarding the highest level of governance and compliance in pursuit of VAT recovery revenues.