Biotech
Creation of a VAT analyst function
The situation
The client was facing a gap in VAT sales receivables for which supporting documents were needed. The role was new so we had to create it from scratch. That is the reason why the mission evolved a lot as we did not know what was expected from us and we had to adapt accordingly.
The task
Our task was to collect and verify the accuracy of the transportation documents.
To collect the supportive documents, we first started to contact the main company of Transport. However, the documentation was incomplete. Therefore, we decided to reach out to the different plants and the different final markets.
To verify the supportive documents, we faced several issues of compliance: reference was missing, reference was wrong, orders were canceled without reason, the format was not correct, etc. For each issue, we had to find the related solutions for the existing documents but also the solutions for the future documents in order to have complete compliant documents.
To collect the supportive documents, we first started to contact the main company of Transport. However, the documentation was incomplete. Therefore, we decided to reach out to the different plants and the different final markets.
To verify the supportive documents, we faced several issues of compliance: reference was missing, reference was wrong, orders were canceled without reason, the format was not correct, etc. For each issue, we had to find the related solutions for the existing documents but also the solutions for the future documents in order to have complete compliant documents.
The action
In order to collect and verify the accuracy of the transportation documents, we had to:
- Contact the different stakeholder (company of transport, different plants, different final market)
- Follow up and send reminder in order to obtain the documents
- Maintain the tracker to see the evolutions of documents collected and their accuracy
- Meeting with the different stakeholder to understand why they could not provide complete accurate documentations. Explanation of what is a complete accurate documentation
- Discussion of solutions to improve the process: automatization of the collection of documentation, correction of the existing documents, making sure the future documents will be compliant
The results
In the end:
- We have not been able to obtain all the supportive documents, neither all accurate ones
- We have been able to attain our objective of 80% of the Total financial Risk covered (Total VAT value + Total Potential Penalty)