Expensya and Ayming have closed a new agreement that will make our lives a little easier, and that undoubtedly responds to the growing need for digitization that has emerged as a result of COVID-19, a pandemic that, unfortunately, we have not yet finished overcoming.
With the aim of offering a integral service of control of expenses and recovery of VAT Associated with the management of our clients, including those derived from travel and representation, the company Expensya, an automated management solution for companies’ expenses, has announced an agreement with Ayming, an international consultancy specialized in improving the performance of companies and institutions.
Thanks to this new agreement between Expensya and Ayming, both will share their methodology by offering a complete service for the optimization of travel and representation expenses items. The VAT associated with travel and representation expenses is an important cost for many companies, but this can be recovered if the invoices are rectified and / or exchanged so that they comply with all the billing requirements and are deductible for the purposes of VAT, an area in which Ayming has extensive experience.
We must also bear in mind that thanks to the billing agreements in the name and on behalf of third parties that you have with more than 13,000 suppliers throughout the national territory, they achieve a recovery rate of more than 80%.
Sonia Álvarez, director of Ayming’s Tax department, has commented:
“To incorporate the latest technology for VAT recovery Relating to travel and representation expenses allows companies to have complete control of expenses, automate processes, speeding up the recovery of VAT associated with these expenses. We are very happy to be able to establish synergies with EXPENSYA to offer a global service in this regard, thanks to its platform ”.
Digitization can help us significantly improve our daily work, and it can also have a very positive impact on many aspects, such as managing resources and managing income and expense items. This alliance between Expensya and Ayming is, without a doubt, a true reflection of how important this reality is.
The lack of internal resources, the manual detail of this task and the lack of a valid supporting document, that is, a correct invoice, are some of the main reasons why companies do not correctly deduct this type of VAT. The VAT quotas implicit in the expenses derived from restaurants, hotels, tolls, parking lots, purchases in large stores, and even communities of owners, could be recovered, ceasing to be an expense with an appropriate procedure that would allow a large number of companies to have access to an additional source of savings.
Thanks to the alliance between Expensya and Ayming, we can digitize and simplify that process, and we will have, and we will be able to access, in addition, other interesting services dedicated to automated management. We can find more information here.