Collection tool implementation in China with GTS Compliance

case-study-otc-high-tech-giant
‚ÄúWe now have a single tool that serves the purpose and better visibility into GT Invoices.‚ÄĚ
Director, Financial Management
case-study-otc-high-tech-giant

Client : High-Technology company headquartered in UK

Challenge

  • As per legal requirements, companies registered in China can issue VAT invoices only using the government owned Golden Tax System (GTS), which issues GT numbers for the VAT invoices sent to it
  • Business was required to register every invoice to Golden Tax System (GTS) developed by China Tax Bureau

Solution

  • Sailfin implemented Salesforce-based product: Order To Cash that will automatically reconcile the Golden Tax Document with SAP and provide a reconciliation report
  • Developed a customized loader to load the file in a format received from GT machine to create the Invoice and GT line items from one file
  • Implemented many-to-many rules between GT Invoices and SAP invoices for reconciliation
Industry: Hi-Tech
sales Sales Cloud
services Service Cloud

4X

reduction in time for a Reconciliation Report

  • Single system for collections record
  • Complete Automation of invoice reconciliation