Way2VAT earns patent for AI-Driven VAT reclaim system

Way2VAT Ltd (ASX:W2V), a global leader in automated value-added tax (VAT) recovery solutions, has secured a new patent for its advanced document image understanding capability, powered by the company's proprietary W2V AI technology.

The company was granted patent for its unique ‘Image-2-Line’ solution, which will make it the world’s first fully automated, end-to-end VAT/GST reclaim platform.

On the finance front, the system reduces overall processing costs while minimising pre-processing efforts by data analysts, all while generating significant ROI for business units.