Global technology company Cygnet InfoTech is growing its footing in the Middle East with the rollout of a digital invoicing platform in Saudi Arabia.
Having recently received accreditation from the General Authority of Zakat and Tax (GAZT), Cygnet InfoTech will now offer technical solutions for businesses in Saudi Arabia to help them move away from some paper processes and issue electronic invoices and electronic notes, according to reports.
See also: Cygnet Infotech Updates FACE Accounting Platform
Headquartered in Ahmedabad, India and founded in 2010, Cygnet InfoTech is among the top indirect tax solution providers in the country. More than 130 million electronic invoices are generated in India using the Cygnet InfoTech Tax Tech’s Compliance Portal, the company said in a statement.
After value-added tax (VAT) regulation was instituted in the Sultanate of Oman, Cygnet InfoTech provided its enterprise VAT compliance platform for use in that country, which borders Saudi Arabia and is the oldest continuously independent state in the Arab world.
Read more: Saudi Arabia’s Open Banking Plan Aims To Advance Digital Innovation
Its presence in Saudi Arabia and Oman has given Cygnet InfoTech the position of becoming one of the most recognized firms in the global tax-tech space, the company said.
Cygnet InfoTech Founder and Managing Director Niraj Hutheesing said the company’s technology platform for taxes will benefit businesses in Saudi Arabia, offering end-to-end solutions for automated compliance across Saudi Arabia, Oman, and the United Arab Emirates (UAE). The company also offers its solutions across India, the U.K., and much of Europe.
You may also enjoy: Fragmented B2B Payment Flows Leave Some Corporates Wanting ‘More Structured’ Solution
PYMNTS research done in collaboration with American Express revealed that 87 percent of businesses found using automated technology resulted in faster processing speeds and 72 percent indicated they saved money on operational costs.
World know-how firm Cygnet InfoTech is rising its footing within the Center East with the rollout of a digital invoicing platform in Saudi Arabia.
Having lately obtained accreditation from the Normal Authority of Zakat and Tax (GAZT), Cygnet InfoTech will now provide technical options for companies in Saudi Arabia to assist them transfer away from some paper processes and concern digital invoices and digital notes, in line with reviews.
See additionally: Cygnet Infotech Updates FACE Accounting Platform
Headquartered in Ahmedabad, India and based in 2010, Cygnet InfoTech is among the many high oblique tax resolution suppliers within the nation. Greater than 130 million digital invoices are generated in India utilizing the Cygnet InfoTech Tax Tech’s Compliance Portal, the corporate mentioned in a press release.
After value-added tax (VAT) regulation was instituted within the Sultanate of Oman, Cygnet InfoTech supplied its enterprise VAT compliance platform to be used in that nation, which borders Saudi Arabia and is the oldest constantly unbiased state within the Arab world.
Learn extra: Saudi Arabia’s Open Banking Plan Goals To Advance Digital Innovation
Its presence in Saudi Arabia and Oman has given Cygnet InfoTech the place of turning into one of the crucial acknowledged corporations within the international tax-tech area, the corporate mentioned.
Cygnet InfoTech Founder and Managing Director Niraj Hutheesing mentioned the corporate’s know-how platform for taxes will profit companies in Saudi Arabia, providing end-to-end options for automated compliance throughout Saudi Arabia, Oman, and the United Arab Emirates (UAE). The corporate additionally provides its options throughout India, the U.Ok., and far of Europe.
You may additionally get pleasure from: Fragmented B2B Fee Flows Depart Some Corporates Wanting ‘Extra Structured’ Answer
PYMNTS analysis performed in collaboration with American Categorical revealed that 87 % of companies discovered utilizing automated know-how resulted in quicker processing speeds and 72 % indicated they saved cash on operational prices.