Invenio Signs Agreement with Department of Zakat & Income Tax, Saudi Arabia for Implementation & Support of SAP Tax and Revenue Management System

RIYADH, SAUDI ARABIA – 18 August 2014. Invenio today announced signing of an important agreement with the Department of ZAKAT and Income Tax (DZIT) in Riyadh to develop and modernise their automation systems for Zakat and Tax Automation System (ZTAS). This agreement was signed on behalf of the Department of Zakat and Income Tax by Deputy Director General for Supporting Operations, Saleh Al-Awaji and Invenio’s Managing Director, Partho Bhattacharya. Saleh Al-Awaji explained (translated): “The importance of this agreement, is to bring state-of-the-art technology by implementing SAP Tax and Revenue Management (TRM) system.

This development and modernisation project, awarded to Invenio Business Solutions seeks to keep DZIT up-to-date with the latest and best applications used in the field. Noting that the agreement is of great importance and will provide DZIT a quantum leap in eGovernment services. This will facilitate the whole of the taxpayer’s process with DZIT through an electronic portal while ensuring a smooth integration with various governmental entities for exchanging relevant taxation data. In addition to the multiple benefits, the new system will process revenue verification functions and will raise the commitment of taxpayers and reduce the risk of delays in the payment of Zakat and tax incl. the avoidance and fraud in general.”

DZIT_ParthoPartho Bhattacharya concluded: “Invenio is greatly privileged and grateful to be awarded this important work to modernise Saudi Arabia’s Zakat & Income Tax systems. The new system will provide the Kingdom of Saudi Arabia an ability to deploy appropriate Zakat & tax management flexibly as the economy develops further to other key focused developmental areas of the Kingdom and collaborate with other Government agencies and other developed economies’ tax agencies. Invenio will provide the world’s most popular German business system SAP and the best of British consulting skills collaboratively with DZIT to achieve a successful business transformation.We do expect this new modern system will be an ideal example for other GCC countries to follow.”

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Flying the Flag for SAP at eWorld Purchasing & Supply 2014!

eworldeventInvenio are excited to announce their participation at the next instalment of the eWorld event on September 24, 2014 at the QEII conference centre, London. eWorld is the UK’s leading event that focuses on technologies from the procurement and supply chain functions. eWorld is inspired by new insights and technologies on an international level.

With more than 30 seminars, the event provides delegates with keynotes, focused briefings, case studies and networking sessions designed to provide high level content for senior purchasing and supply executives.

Covering topics on:

  • Trends and market conditions
  • Sustainable procurement strategies
  • Improving collaboration across an enterprise
  • e-invoicing and procure to pay

plus more….. This is the first time Invenio are sponsoring and attending eWorld, after the great response we received at SAPPHIRE NOW for our Invenio’s P2P Solutions Procure to Pay tool, we felt it was time to really showcase our unique SAP technology to a focused procurement and supply chain audience.
Kedar1Kedar Patwardhan,
Account Director at Invenio has been invited to speak at the eWorld event. In his presentation, Kedar will discuss the challenges faced by organisations in today’s tough economic environment. Organisations continue to struggle on, trying to find opportunities to control their external spend.

Kedar will tell listeners how companies using SAP can dramatically reduce administrative expenditure by as much as 50% by shifting their suppliers to a self-service model with Invenio’s unique Procure to Pay solution built on SAP itself, thus leveraging the full benefits of an SAP integration. SAP’s scalability means Invenio’s P2P Solutions P2P can accommodate thousands of internal purchasers, manage limitless projects and effect multi-level payment authorisations. It can be accessed through the portal 24/7 by thousands of suppliers worldwide. All this, combined with inbuilt multi-currency and multi-language capabilities, means a one-stop global solution that manages the entire purchasing needs of an international operation. This is going to be a truly jam packed day. Other highlights at e-World include:

  • A fresh perspective on the latest trends from industry experts
  • The opportunity to hear about new developments from all the major technology providers
  • Learn from the experiences of other end-users
  • Share knowledge with your peers throughout the day
  • See the latest technology innovations in action