Deloitte US has deployed a technology-enabled solution -- CognitiveTax Insight (CogTax) -- to provide a more efficient analysis of clients' indirect tax data set. CogTax has the ability to analyse the full population, if desired, of clients' accounts payable transactions compared to a traditional, sampled approach. The solution can help companies to proactively avoid overpaying their indirect tax liabilities. CogTax leverages optical character recognition (OCR), along with advanced machine learning algorithms and analytics, to analyse a full population of data and documents to assist clients with indirect tax overpayment recovery and reduce the potential for future over or underpayments. "CogTax moves tax analysis from a manual, administrative process to an automated, machine learning process that brings with it accuracy and scale previously not achievable," said Deval Reddy, indirect tax principal in the multistate tax services practice, Deloitte Tax LLP.
Oct-23-2019, 10:57:05 GMT