Integrity through Visibility

We believe in VAT At VATSolve … and in doing VAT properly!

We believe …  VAT is the most important tax in the world  Fastest growing tax in the world  Most efficient way of collecting and generating revenues for the Fiscus  VAT is a self assessing system  Imperative that we be able to assess ourselves effectively and have evidence of the assessments with Audit Trails on an ongoing basis  There’s a legal and moral obligation to do VAT properly  It is bad business to:  Overpay or underpay VAT and to pay VAT too early or too late!

VATSolve’s Core values …  Good Corporate Governance  Compliance with guidelines as per Sarbanes Oxley and King Commission  Information visibility  Leveraging systems for business intelligence  Visibility is the key to effective risk management  Data integrity and accuracy  Simplicity

The reality for many businesses...  Good intentions – But poor execution  Intention to be compliant, but lacking control and visibility of monthly VAT reporting  Overwhelmed  Tens of thousands of VAT transactions each month  Difficult to test without visibility  In the dark  Internal control systems not geared to monitor and control this volume of VAT transactions for compliance  Blind authorisation – leading to risk  VAT is authorised by directors who are legally accountable and may be personally liable (according to VAT Act), but have little or no confidence in the accuracy of the VAT return  Non-compliance can lead to significant penalties and interest  Fear of a SARS Vat Audit

Wasted opportunities?  Throwing away profit?  Your company may be throwing away millions in profits each year through lack of control of VAT returns  Missing a big cash flow opportunity?  By only claiming inputs in the period they were captured?

Benefits of VATSolve  High visibility of your VAT transactions  Audit friendly solution:  Historical visibility  Balances back to financial ledger  Provides comprehensive audit trails  Fast and efficient business tool for comprehensively interrogating your VAT data  Looks at all the VAT transactions  User friendly – reports into Excel, pre-defined pivot tables and PDF  Touch of a button drill down capability  SAP Compatible  Cost effective solution  Ready-made product:  Makes you self-sufficient in managing your VAT compliance  Not reliant on expensive, external consultants (data miners)

Trusted solution  Used by a growing number of large corporates in SA  Including a “Big 4” audit firm Used internally by credible SA VAT experts Combines local VAT expertise with world class software design

Satisfied Customers

Key features & Exclusive modules  CONSOLIDATION module with individual Companies Dashboard  CASH FLOW benefits function fully automated with Next Period transaction drill downs  HISTORICAL / ANALYTICAL comparisons to assist Risk Management  CUSTOMIZATION available for specific requirements  EXCEPTION REPORTS with on screen viewing, drill downs and pivot tables  RECONCILES back to General Ledger VAT control accounts  NO DATA is written back to ERP system  COMPLETE FULLY AUTOMATED HISTORICAL data with saved per VAT Period  PROUDLY SOUTH AFRICAN - Local expertise with world class design

The bottom line … VATSolve gives you:  Control of your VAT transactions  Self sufficiency  Confidence and Peace of Mind that your VAT returns are reliably accurate and compliant

Integrity through Visibility