Rydoo and Blue dot Partner to Provide Tax Automation Solution for Corporate VAT and Employee Benefits Reclaim – Yahoo Finance

Rydoo will leverage Blue dot's tax compliance automation capabilities to simplify and expedite tasks, maximize savings and minimize risk

TEL AVIV, Israel, Oct. 12, 2022 /PRNewswire/ -- Blue dot, a leading tax compliance platform for employee-driven spending forVAT recoveryandTaxable Employee Benefits(TEB) analysis, announced today the launch of a new partnership with Rydoo, a leading international SaaS software solution for managing business expenses. The partnership offers a one-of-a-kind, AI powered solution empowering Rydoo customers with unprecedented visibility and control within the Rydoo workflow, and effortless VAT compliance and support for taxable employee benefits, also known as fringe benefits or benefits-in-kind.

According to The Accenture Future of Work Study, 63% of high-growth companies have already adopted a "productivity anywhere" workforce model, ushering in a new era of consumer-style enterprise spending and, with it, new challenges for businesses looking to maintain tax compliance along with expenditure regulations. This partnership between Rydoo and Blue dot will afford Rydoo clients a reliable, accurate and automated solution to accelerate financial processes and ensure effortless tax compliance and automation of VAT recovery and Taxable Employee Benefits (TEB) across the enterprise.

"High-growth companies require a scalable solution that addresses the complexities of the current consumer-style spend landscape, and automation is the key," said Isaac Saft, CEO & Co-Founder of Blue dot. "Joining forces with Rydoo to leverage smart AI and ML tech solutions will ensure companies can meet head-on the challenges they face in an ever-changing ecosystem while boosting efficiency, visibility, and compliance."

Rydoo's AI-powered integrated solution streamlines, simplifies, and automates the spend management process, enabling on-the-go expense capture and submission while staying compliant with local regulations. Through this partnership, Rydoo's customers will gain access to Blue dot's database of rules and regulations and best practices across national and domestic jurisdictions updated in near real-time to ensure compliance.

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"We are constantly looking for new ways to help our customers bring out the best in their teams -- this partnership will help us do just that," said Justin Borja, Head of Partnerships at Rydoo. "We are thrilled to round out our product with this integration and provide our customers with the added value of Blue dot's AI-driven technology to improve visibility into their taxable spend."

Supported by Blue dot technology, Rydoo customers will now enjoy the benefits of advanced automated tax tech,perfecting invoice reading (OCR) and matching, providing powerful analytic capabilities and insights with unprecedented data integrity and validation, and safeguarding the highest level of governance and compliance in pursuit of VAT recovery revenues.

About Blue dot

Blue dot, the world's leading automated tax compliance solution has created the first dynamically updated financial technology platform for employee-driven transactions. Blue dot's all-in-one Tax Compliance Platform harnesses digitization and automation to process and analyze a company's employee spend data for VAT, taxable employee benefits and corporate income tax. Blue dot is fully dedicated to providing its clients with value as well as the peace of mind that comes from full compliance. The company has attracted a large portfolio of Fortune 500 clients. Blue dot was founded in 2013 and is headquartered in Tel Aviv, Israel, with offices in Amsterdam and the UK. For more information, please visit: https://www.bluedotcorp.com/

About Rydoo

Rydoois a leading provider of expense management that reinvents and simplifies the process for high-growth companies. Rydoo has been recognised as one of the top expense management software providers for enterprises by G2 Crowd, the world's leading business solution review platform. With a team of +150 enthusiastic employees, Rydoo operates in over 150 countries. More than 10 000 customers and over 1 million users benefit from the usability and efficiency of its consumer-oriented app. For more information, please visit http://www.rydoo.com.

Blue dot Media Contact:Tamara Raynor-CoteHeadline Mediatamara@headline.media

IL: +972 58 676 6793US: +1 914 336 4557UK: +44 203 769 3469

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SOURCE Blue dot

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Rydoo and Blue dot Partner to Provide Tax Automation Solution for Corporate VAT and Employee Benefits Reclaim - Yahoo Finance