Compliance Management through Automated Tax Form Validation

Tax and audit enterprises are going hyper-digital with automated services. Many business processes are being transformed in this domain. However, tax form validation is still considered to be a cumbersome, time-consuming, and highly manual process. Managing compliance while validating and verifying humongous volumes of critical tax form data is indeed a critical and exigent task. Additionally, the manual approach to this tax process takes a huge toll on organizations with delays, rework, cost, and high compliance risk.

To do away with these challenges, Hexaware enables tax practitioners and professionals to adopt an automated data validation approach with an automated tax form validation solution- ValTax. Hexaware’s ValTax implements automated tax compliance and resolves all validation errors by leveraging rule-based validation.

During the tax form validation process in a Target Operating Model (TOM), ValTax comes into action while performing data review and modification. ValTax initiates an auto-validation based on the predefined clauses and rules with real-time feedback. There is a simple 5-step process where the system administrator grants access to the Tax Administrator and Practitioner to upload forms and validate the data. Automated data validation significantly reduces human errors and minimizes rework leading to enhanced efficiency.

Benefits of ValTax:

• Reduces cost, time, and effort
• Increases efficiency with higher productivity and reduced cycle time
• Enhances compliance management by boosting transparency
• Elevates user experience through seamless integration with other tax practitioners