Virtual card technology provider Conferma is partnering with tax recovery technology VAT IT to deliver hotel invoice data directly for VAT recovery processing, the companies announced.
With the integration, customers will be able to transfer invoice data gathered by Conferma's SnapPlus invoice collection service, which connects via API to hotel property management systems, and send it directly to VAT IT. That will "help customers reduce administration and improve the completeness of the data available for eligible VAT reclaims," Conferma chief product officer Stuart Davenport said in a statement.
The suppliers noted that VAT reclaims can be a challenge particularly for companies operating across several jurisdictions, where they face a variety of eligibility rules and submission standards and high volumes of hotel invoices, with incorrect documentation risking claims to be delayed or rejected. Conferma said up to 44 percent of recoverable VAT globally is never claimed.
"Businesses can miss VAT recovery opportunities when invoice data is incomplete, fragmented or difficult to process," VAT IT partnerships director Scott Steenkamp said in a statement. "Connecting hotel invoice data collected through Conferma with VAT IT's recovery expertise will give customers a simpler route to identify and recover eligible VAT across multiple jurisdictions."
A Conferma spokesperson could not immediately provide the timing of when the integration will be available to customers.