Loctax
AI-powered tax control centre for streamlined tax operations and compliance.
Executive Summary
Loctax, an AI-powered tax control centre by Tax Systems, is designed to streamline and automate complex tax operations for businesses. Integrated after acquisition, this platform centralizes tax data management, ensuring accuracy and efficiency across the entire tax lifecycle. It leverages advanced AI capabilities to standardize, interrogate, and correct financial data extracted from various source systems, transforming raw information into compliance-ready tax computations. The solution focuses on creating a digital end-to-end process for tax, from data collection and validation to computation and submission. By automating the integration of data from ERP and accounting systems via APIs, Loctax significantly reduces manual effort and minimizes errors. It provides a robust compliance engine that supports the collation, calculation, validation, and submission of tax returns, enabling finance and tax teams to manage their obligations with confidence and precision.
Use Cases
- Automating the extraction and standardization of financial data from ERP and accounting systems for tax purposes.
- Preparing and submitting corporate tax computations and returns with enhanced accuracy and efficiency.
- Centralizing oversight and management of all tax operations through a unified control centre.
- Ensuring digital linking and end-to-end compliance for various tax obligations, including VAT.
- Reducing manual data entry and reconciliation efforts in the tax reporting process.
Features
Visibility
- Centralized Tax Data Management: Provides a single source of truth for all tax-relevant financial data, ensuring consistency and accuracy.
- Real-time Compliance Monitoring: Offers real-time visibility into the status of tax operations and compliance progress.
Intelligence
- AI-powered Data Interrogation: Utilizes AI to analyze, standardize, and correct raw financial data for tax purposes.
- Automated Tax Computation: Automatically calculates and prepares tax computations based on integrated and validated data.
Support
- Comprehensive Training: Offers training courses to equip users with the skills needed to effectively use the tax software.
Technical Specifications
- Architecture
- Cloud-based architecture with strong API integration and ETL capabilities for data extraction and standardization.
- Deployment
- SaaS
- API Available
- Yes
Infrastructure
- Azure
Security & Compliance
Certifications: ISO 27001
Pricing
- Starting Price
- Contact sales
- Target Customer
- Enterprise
About Tax Systems
Tax Systems is a global multi-tax compliance SaaS provider that develops market-leading tax compliance software and services. They empower businesses to automate tax processes, ensuring efficiency, accuracy, and better governance.