In retail, fiscal management is a complex task, involving the issuance of invoices, monitoring of legislative changes and tax assessment. The automation of these processes is essential to reduce manual workload and minimize human errors, allowing employees to focus on more strategic tasks.
It is known that in Brazil the bureaucracy involved in tax documents also carries an advantage: we are one of the few countries that centralize information about commercial and tax transactions in the same document, what is official and auditable. Furthermore, each invoice contains more than 600 fields, many of them validated by the treasury department itself, and that concentrate relevant information about your business, product, supplier and carrier. Therefore, beyond all the tax and procedural obligations attached, the note also brings a competitive advantage to those who know how to analyze it and create alerts about its fields.
Technologies are crucial for ensuring compliance and efficiency in tax management, but also to transform data into strategic insights in a timely manner. At its point of excellence, offer the ability to turn tax bureaucracy into a competitive advantage, essential for survival and sustainable growth in the highly dynamic retail environment, sayMarcus Araújo, Head of Data & Principal Data Scientist atI archived, platform responsible for managing tax documents of over 140 thousand companies
The specialist explains the importance of automating administrative processes in retail companies and comments on how to leverage tax data for the benefit of businesses.
Strategic fiscal management
The implementation of an ERP, a management software for retail companies, it is crucial to carry out managerial controls efficiently. This includes the management of the cost price, profit margin calculation, selling price, inventory control and issuance of invoices. An automation system integrates the various areas of the company, optimizing tasks and increasing operational and financial efficiency
"From my experience, analyses with a broad strategic scope usually take 80 to 90% of the time on tasks to research and consolidate information, this is, every 10 hours of work, 2 hours are really focused on analysis. Furthermore, they can take 3 to 4 versions until a decision is made. Having an ERP integrated with all useful and organized sources of information, you can therefore return the data cleaning time, and reduce the time to make a decision, with an effectiveness of up to five times and more substantiated analyses, evaluate Araújo.
Reconciling ERP with the automation of tax data is becoming essential for retail to make informed and effective decisions. The extraction and analysis of tax data allows retailers to identify purchasing patterns, seasonality and consumer preferences. This information is vital for optimizing inventory and planning marketing campaigns more accurately
In the retail market, it deals with different quantities of invoice volumes There are companies that need to import a few hundred invoices monthly to cases that process 30 million invoices per month. A good example of this occurred when a retail giant needed to reduce the error in the reconciliation between purchase orders and the invoices from its suppliers. The delay and failure in this process were impacting different areas of the operation throughout Brazil. After automating the capture and structuring of the invoice, besides having mitigated the error, they also gained visibility on which suppliers comply the most and the least with their obligations. This visibility and control over suppliers allowed for the design of better policies to ensure predictability for all stakeholders (supplier, warehouse, stores and end consumer, comments the specialist.
Implementing an automated and strategic tax management brings numerous benefits for retail, such as fiscal control and cost reduction. Automation provides greater financial control, allowing the correct parameterization of products and taxation, in addition to a more efficient inventory control
One can also mention the optimization of productivity and tax compliance.The integration of processes and areas of the company optimizes productivity, allowing for a broad analysis and more assertive decision-making
Furthermore, automation allows for continuous monitoring of tax data, ensuring compliance with government regulations and mitigating the risk of penalties.
