Global leader in integrated VAT claim and return solutions, Way2VAT (ASX:W2V), has partnered with international technology and software company Zoho to integrate its software solutions with Zoho Marketplace and Zoho Expense.
The partnership, effective immediately, is the first of its kind and makes Way2VAT the only company offering a full end-to-end VAT (value-added tax or GST) reclaim solution for both the domestic and global SMB market. The term is for one year and will renew automatically.
The integration will initially be rolled out to 6,000 SMBs predominantly in UK and Europe and then will be offered to a further 24,000 SMBs in 50 countries. Zoho will notify its customer base of the partnership directly through the Zoho Expense platform, inviting its users to use Way2VAT’s VAT reclaim solution.
Way2VAT launched its SMB product in late 2020, providing a sales channel to leverage through its technology partners to access to Way2VAT’s software internationally. Way2VAT is the only vendor in the market offering VAT reclaim bundle for local expenses, foreign expenses and foreign APs as a SaaS model.
Way2VAT Founder and CEO, Amos Simantov, said, “The partnership with Zoho is the first time SMBs are being offered an AI-based automatic solution for VAT reclaim. We are excited to do this with Zoho, who represents a significant share of the SMB market. The partnership provides a new channel that will significantly increase Way2VAT’s reach, with direct access to over 30,000 SMBs in more than 50 countries.
“The agreement forms part of our strategy to target the growing SMB market, where a seamless, automated VAT claims solution is non-existent. The partnership will allow SMBs to improve their VAT reclaim processes locally for all their local and foreign expenses at the same time as international travel resumes across the world and countries push for more digitally enabled taxation systems. This partnership is the first of many disruptions we plan to bring to the market.”