Invenio Business Solutions wins new contract to implement VAT and Excise Tax for the Saudi Government

Reading, UK – 16th of December, 2016 – Invenio Business Solutions announced today, the signing of their newest contract with the Ministry of Economy and Planning in Saudi Arabia. Invenio will be responsible for the implementation of Excise and Value Added Tax to their existing state-of-the-art technology SAP Tax & Revenue Management system at the Department of General Authority of Zakat and Tax (GAZT).

Two years ago, GAZT and Invenio started the implementation of a commercial off-the-shelf SAP based Tax & Revenue Management system. The new solution replaced the legacy system and went live in March this year. Through it, GAZT is now benefiting from a modernised and more effective business process, which supports the organisation with different functionalities. The solution currently helps the successful collection of Zakat, Income Tax, and Withholding Tax. The success of this project was a key factor in their decision to include VAT and Excise tax into the same modernised system. This is possible, because the system is scalable, and it will provide a single view of the taxpayer for all tax types.img-20161206-wa0009

The Ministry of Economy and Planning of Saudi Arabia, deployed a consulting firm, which had to evaluate all possible options for the implementation of Excise and VAT. After a six-month period of deliberations, Invenio Business Solutions was appointed as the best company for the project.

Invenio’s Global Head of Public Sectors Sales, Sunil Srivastava, said: “It is a great honour for us to be a part of the Saudi 2030 vision and work with the Government on this critical project for generating Non-Oil Revenue. It also brings with it a huge responsibility to implement the system by the start of 2018.”

Invenio will implement and provide one year of support services once the project is live. The new tax types are expected to generate USD 10 billion of annual tax revenue for the Saudi Government, starting from 2018.

*On the photo are His Excellency Saleh Al-Awaji and Partho Bhattacharya after signing the contract

Invenio Business Solutions Signs Partnership Agreement with SAP in the USA

Invenio Business Solutions, a SAP Gold Partner in the UK, announced today, in conjunction with SAP USA, that Invenio Business Solutions is now officially an approved partner of SAP in the USA and part of the SAP PartnerEdge Programme, the USA.

The addition of Invenio Business Solution to the partner programme of SAP USA will enable customers in the USA to engage SAP’s solutions along with Invenio’s award winning business systems expertise in Media and Entertainment, the Public Sector and Manufacturing sectors. Invenio will also provide SAP support, value-added business solutions, upgrade, enhancement, and maintenance of SAP’s suite of solutions across SAP’s portfolio of business applications and analytics software; SAP HANA, SAP ERP, SAP Business Suite, SAP Business Intelligence; SAP Mobile Solutions, and SAP Hybris for Commerce.

Invenio Business Solution Inc. President Partho Bhattacharya said, “SAP customers in the USA, can now  gain access to our delivery team of over 350 business consultants, with deep experience in the delivery of business solutions in our chosen industries. Our philosophy is to collaborate with our clients, in the delivery of customer-centric solutions, that address their ongoing business needs and objectives.

Our recent, re-certification, in Europe, as a SAP Partner Centre of Expertise (PCOE), for the third time in a row, is a demonstration of our commitment to the continuous enhancement our knowledge of the SAP portfolio. Our continued investment in the development of high-performance delivery teams, through the certification of our consultants and solutions managers, keep us at the leading edge of innovative solutions, especially in Media industry.”

 

About Invenio Business Solutions 

Invenio Business Solutions is an award-winning Business System Provider, headquartered in Reading, UK. The company supports customers in the government, media, and manufacturing sectors, in areas that include industry-specific enterprise resource planning (ERP) focussed on SAP tax and revenue management, IS-Media, SAP business intelligence & big data, SAP mobility, Hybris eCommerce, CRM and Enterprise integration services. Formed in 2006, the company has subsidiary offices in India, Germany, Mauritius, Saudi Arabia, Dubai and the U.S.A. Throughout its history, Invenio has grown rapidly, organically and profitably. Invenio is a constituent of The Sunday Times Tech Track 100 for 2012, 2013 and 2014. Invenio is a SAP Gold partner and recipient of numerous awards from SAP, including EMEA Regional Partner Excellence Award 2014 in the category “Database & Technology” for its work with SAP HANA®. The SAP consultancy is accredited for SAP’s global partner quality program and is certified for ISO 9001, a quality management system based on the principles of a customer focused, process approach and continuous improvement.

 

About SAP

SAP SE, formerly AG, is a provider of application and analytics software for enterprises in mobile enterprise management. SAP is an enterprise cloud company. As of December 31, 2014, the Company has more than 282,000 customers in over 180 countries. The Company offers solutions-based on its SAP HANA platform combines database, data processing, and application platform capabilities in-memory.  It also provides capabilities, such as predictive text analytics, special processing, and data virtualisation.  The Company offers application software to around 25 industries in six industry sectors and 12 business lines, including consumer, discrete manufacturing, energy and natural resources, financial services, public services and other services. Through Sapphire Ventures, Sapphire Ventures invests in global capital funds, as well as early-stage venture capital funds in enterprise and consumer technology.

 

Media Contact USA

Glennis Spieker,

Vice President Sales

6303 Owensmouth Avenue, Suite 1059

Woodland Hills,

CA 91367

United States

glennis.spieker@invenio-solutions.com

Invenio Business Solutions Achieves Re-certification of its Quality Management System ISO 9001: 2008 in India.

Mumbai, Dehli and Hyderabad centres meet international quality management systems standards (QMS).

Invenio Business Solutions, are delighted to announce the re-certification of our technology hubs in India, for ISO 9001:2008. The certificate, renewed annually, was first issued to our centres in India, in September 2015 by Det Norske Veritas Germanischer Lloyd (DNV.GL).  This year the recertification, was successfully completed on the June 20th, 21st, and 22nd respectively.

The quality management system ISO 9001:2008 audit, obligates an organisation to demonstrate the capability to provide products and services, that abide by customer, statutory and regulatory requirements. The quality management system (QMS), ensures high levels of customer satisfaction are maintained through continuous process and systems improvements.

The ISO 9001:2008 is a model for quality management systems that highlights the effectiveness of processes within a business. The quality standard provides an iterative approach to process improvement, emphasising a specific set of conditions, that an organisation must adhere to; value add, improve process performance and effectiveness, and deliver continued improvement to objective measurements.

The requirements are generic, are applicable to all organisations, irrespective of the nature of business conducted, the size and scope of commercial operations and the services delivered.

Re-certification provides our customers in Media and Entertainment, Government and Manufacturing with an assurance. In the capabilities of our business consultants to partner with our customers, on projects, that mitigate risk, whilst leveraging their technological infrastructure and operations to enable sustainable business growth and profitability.

The audit conducted by the independent international body, Det Norske Veritas Germanischer Lloyd (DNV.GL) confirms Invenio Business Solutions technology hubs in Mumbai, Dehli and Hyderabad, deliver consistent and reliable services, that meet the appropriate internationally recognised standards and our determination to exceed our customer expectations, maintain high levels of customer satisfaction, and the ongoing development of our commercial relationships.

 

About Invenio Business Solutions

Invenio Business Solutions is an award-winning Business System Provider, headquartered in Reading, UK. The company supports customers in the government, media and manufacturing sectors, in areas that include industry-specific enterprise resource planning (ERP) focussed on SAP tax and revenue management, SAP business intelligence & big data, SAP mobility, Hybris eCommerce, CRM and Enterprise integration services. Formed in 2006, the company has subsidiary offices in India, Germany, Mauritius, Saudi Arabia, Dubai and the U.S.A. Throughout its history, Invenio has grown rapidly, organically and profitably. Invenio is a constituent of The Sunday Times Tech Track 100 for 2012, 2013 and 2014. Invenio is an SAP Gold partner and recipient of numerous awards from SAP, including EMEA Regional Partner Excellence Award 2014 in the category “Database & Technology” for its work with SAP HANA®. The SAP consultancy is accredited for SAP’s global partner quality program and is certified for ISO 9001, a quality management system based on the principles of customer focus, process approach and continuous improvement.

About Det Norske Veritas Germanischer Lloyd (DNV.GL) 

DNV GL enables organizations to advance the safety and sustainability of their business. We provide classification and technical assurance along with software and independent expert advisory services to the maritime, oil & gas and energy industries. We also provide certification services to customers across a wide range of industries. Operating in more than 100 countries, our professionals are dedicated to helping our customers make the world safer, smarter and greener.

Media Contact

Kofo Are, Head of Marketing

+44 7833445335

125, Wharfedale Road, IQ Winnersh

Reading.

RG41 5RB

kofo.are@invenio-solutions.com

Invenio Business Solutions achieves re-certification for the third time, as an SAP Partner Centre of Expertise.

Invenio Business Solutions achieves SAP Partner Centre of Expertise certification

IQ Winnersh, READING, UK – Monday the 23rd of March 2016

Invenio Business Solutions is an SAP Gold Partner and award winning business system provider, headquartered in Reading, UK. Invenio achieved re-certification, for the third time in a row, as an SAP Partner Centre of Expertise (PCOE).

The Partner Centre of Expertise certification is a rigorous audit, conducted every two years, of a partner’s operational and delivery capabilities. It includes a rigid set of parameters, centred around technical and compliance issues; encompassing support staff and processes and technical infrastructure.

The (PCOE) certification authorises Invenio Business Solutions to deliver, first and second level support for SAP Business Suite, SAP Business All-In-One, SAP Analytics and SAP HANA customers, seeking the services of an application and solution consultancy, during implementation and maintenance of SAP products and solutions.

The re-certification proves our commitment, at Invenio Business Solutions, to SAP’s vision; of ensuring that, the partner community’s delivery team of consultants, conform to the technical and organisational standards of SAP.

Invenio’s customer-centric approach is to deliver exceptional services and solutions to our customers around the world, 24 hours a day, 7 days a week. This exceptional service record of Invenio enabled us to retain each and every customer we ever acquired in the 9 years of Invenio Business Solutions history. In our history of existence, we have never lost a customer.

Our continued investment in the development of high-performance delivery teams, through the certification of our consultants and solutions managers in SAP technologies; SAP HANA, SAP Business- All-in-One; SAP Business Intelligence; SAP Mobile solutions, and SAP CEC commerce forms the initial stage of their journey in service excellence.  The creation of a test environment in our in-house laboratories, for SAP HANA and UI technologies further enables us to deliver ground-breaking solutions.

Read more about the SAP Partner centre of expertise here

About SAP

Founded in 1972, SAP is at the centre of today’s technology revolution. The market leader in enterprise application software, SAP helps organisations fight the damaging effects of complexity, generate new opportunities for innovation and growth, and stay ahead of the competition. Visit our corporate site to explore news, information for investors and analysts, career resources, SAP’s history, and more. Learn more at http://go.sap.com/uk/about.html

About Invenio Business Solutions

Invenio Business Solutions is an award-winning Business System Provider, headquartered in Reading, UK. The company supports customers in the government, media and manufacturing sectors, in areas that include industry-specific enterprise resource planning (ERP) focussed on SAP tax and revenue management, SAP business intelligence & big data, SAP mobility, Hybris eCommerce, CRM and Enterprise integration services. Formed in 2006, the company has subsidiary offices in India, Germany, Mauritius, Saudi Arabia, Dubai and the U.S.A. Throughout its history, Invenio has grown rapidly, organically and profitably. Invenio is a constituent of The Sunday Times Tech Track 100 for 2012, 2013 and 2014. Invenio is an SAP Gold partner and recipient of numerous awards from SAP, including EMEA Regional Partner Excellence Award 2014 in the category “Database & Technology” for its work with SAP HANA®. The SAP consultancy is accredited for SAP’s global partner quality program and is certified for ISO 9001, a quality management system based on the principles of customer focus, process approach and continuous improvement.

 

Media Contact

Kofo Are, Head of Marketing

+44 7833445335

125, Wharfedale Road, IQ Winnersh

Reading.

RG41 5RB

kofo.are@invenio-solutions.com

Invenio Successfully Implements SAP Tax and Revenue Management Solution for Department of Zakat and Income Tax, Saudi Arabia

Invenio completes first phase of a three year project to increase revenue, interconnect various government agencies, reduce fraud and provide greater visibility for the Department of ZAKAT and Income Tax, Saudi Arabia

IQ Winnersh, READING, UK – 22nd of March 2016 Invenio today announced successful implementation of SAP’s Tax and Revenue Management solution for the Department of ZAKAT and Income Tax (DZIT), Saudi Arabia. The three year project,  began in 2014 to develop and modernise its automation systems for Zakat and Tax Automation System (ZTAS).

Following a comprehensive selection process, DZIT chose Invenio to lead the implementation, over BULL SAS and Oracle Inc. due to its proven SAP expertise, project execution methodology and attitude to working. Invenio committed to an aggressive project plan to ensure the complex implementation of the solution was delivered within budget so DZIT can start deriving return on investment.

Now that the system is live across the nation’s Tax and Zakat payer base, DZIT will be able to collect and manage taxes more efficiently, and with greater visibility. As a result DZIT has already prevented a number of fraud cases that would historically have been unidentified.  The new system is also enabled online for mobile users to manage their tax affairs from any device.

Partho Bhattacharya, Managing Director, Invenio Solutions commented: “We are delighted to have successfully implemented SAP Tax Revenue and Management to help DZIT deploy appropriate Zakat and tax management flexibly across the Kingdom of Saudi Arabia. While still in the early days of go live, the ROI already being received proves the importance of modernising infrastructure to gain greater visibility and ultimately increase revenue. This is an example of successful deployment of British skills in the world  stage.”

Looking forward, Invenio is in the process of  implementing, Fraud Management and Predictive Analysis on SAP HANA to further prevent fraud by introducing deeper validations and better understand past behaviours and trends to provide more reliable identification of suspicious cases in the future.

About Invenio

Invenio Business Solutions is an award-winning Business System Provider, head quartered in Reading, UK. The company supports 45 customers in the government, media and manufacturing segments, in areas that include industry-specific enterprise resource planning (ERP), tax and revenue management, business intelligence, big data, mobility, CRM and integration solutions. Formed in 2006, the company has subsidiary offices in India, Germany, Mauritius, Saudi Arabia, Dubai and the U.S.A. Throughout its history, Invenio has grown rapidly, organically and profitably. Invenio is a constituent of The Sunday Times Tech Track 100 for 2012, 2013 and 2014. Invenio is a SAP Gold partner and recipient of numerous awards from SAP including EMEA Regional Partner Excellence Award 2014 in the category “Database & Technology” for its work with SAP HANA®.  Invenio is also accredited for SAP’s global partner quality program. For more information visit: http://invenio-solutions.com

About DZIT

The Department of Zakat and Income Tax (DZIT) was established per Ministerial Resolution no. 394, dated 7/8/1370 H. (14/06/1951). The mission of DZIT is briefly to administer and collect zakat on commercial goods from Saudi individuals and companies and from individuals and companies of GCC states subject to the same treatment like Saudis, and to administer and collect tax from non-Saudi individuals doing business in the Kingdom, resident Saudi companies on shares of non-Saudi partners, and non-resident companies doing business in the Kingdom through a permanent establishment or deriving income from  a source in the Kingdom.
The Head-office of DZIT is in Riyadh. There are ten field-offices that report to the Head-office; the field-offices are located in Riyadh, Jeddah, Dammam, Makkah, Madinah, Taif, Qassim, Abha, Tabuk and Al-Ihsa. In addition, there are sections in the Financial Offices to collect zakat and tax in regions and districts with no DZIT field-offices.

 

Media Contact

Kofo Are, Head of Marketing

+44 7833445335

125, Wharfedale Road, IQ Winnersh

Reading.

RG41 5RB

kofo.are@invenio-solutions.com

 

UK manufacturers must take note of the focus on innovation following Sturgeon’s announcement

UK manufacturers must take note of the focus on innovation following Sturgeon’s announcement

Following the news that Nicola Sturgeon has committed to a centre of excellence for manufacturing in Scotland, manufacturers in the UK as a whole should take note of the focus on technology and innovation to increase growth and narrow the current skills gap.

Partho Bhattacharya, MD and President of Invenio, has commented on the importance of addressing new technologies to get ahead in manufacturing:

“With recent data from the Office for National Statistics having shown that UK industrial output suffered its sharpest monthly drop in three years, manufacturers need to constantly evolve operations to achieve growth. Nicola Sturgeon’s commitment to launching a manufacturing centre of excellence in Scotland is a great way to drive innovation and address the skills gap currently affecting the sector.

“In an increasingly volatile climate, manufacturing companies who do not utilise the advice and technology available to modernise operations will quickly fall behind. It is therefore reassuring to see that the Scottish Government is implementing a strategy for the manufacturing sector which focuses on working with companies to assess the benefits of new technologies, and encourage their take-up.

“Whilst this initiative is focussed on Scotland, manufacturers across the UK should always seek to achieve constant innovation, whether that’s driven internally or through partnering with third party experts. Whilst it’s not possible for centres of excellence to be launched everywhere in the UK, with the right knowledge and advice, expert partners can help manufacturers to utilise technology to drive efficiency and growth.”

To read the full article, please visit: http://www.manufacturingglobal.com/peopleskills/677/UK-manufacturers-must-take-note-of-the-focus-on-innovation-following-Sturgeons-announcement

Media Contact

Kofo Are, Head of Marketing

+44 7833445335

125, Wharfedale Road, IQ Winnersh

Reading.

RG41 5RB

kofo.are@invenio-solutions.com