Datatec
Learn how ARKK created bespoke
FX workflows for an international
ICT corporation.
Established in 1986, Datatec is a global ICT solutions and services firm originating in Johannesburg, South Africa. Datatec is listed on the JSE, has an annual turnover of roughly £3.3 billion and employs over 10,000 staff internationally. The firm's global nature inherently adds complexity to a number of their financial undertakings, including their VAT return.
ARKK assisted Datatec Financial Services, a subsidiary of Datatec that provide financing solutions to Westcon Comstor and Logicalis’ customer base.
1
Datatec Financial Services wanted a more effective method for collating and inputting VAT data, there were some manual outdated processes in place that could be subject to data entry errors. Gayle Hares, Datatec Financial Services' CFO, understood the need for change.
2
"HMRC's MTD mandate was the catalyst to make modifications through our VAT process," said Gayle. "Our FX adjustments required manual input with secondary controls to minimise errors which was exceptionally time-consuming for our staff. We knew that automation was crucial to improve efficiency and control of our VAT process."
3
Gayle recognised the demands of managing a small team dealing with a large volume of transactions, the added pressure of MTD phase 1 and 2 compliance would put unnecessary strain on the tax function. Guided by a recommendation from the Global Tax Manager at Datatec, after assessing cost, platform functionality and cultural fit, ARKK was the clear choice.
“The end result is a highly intuitive workflow that is easy to understand and a breeze to make FX alterations".
Identifying automation needs
ARKK knew that compliance wasn't the only requirement for Datatec Financial Services. After a meticulous consultation, the need for process automation, particularly regarding FX adjustments came to light. The objective was now clear, to highlight and adjust FX transactional data with minimal manual intervention.
Building a bespoke FX workflow
Knowing the robust capabilities of the Automation Platform, ARKK set out to create a bespoke workflow for Datatec Financial Services which could replace the organisations’ existing manual FX data conversion with an automated process saving time, money and helping to reduce potential errors through ARKK's automatic data validation.
Tailored, intuitive solution
ARKK listened to Datatec Financial Services' issues and created a tailored solution that removed an obstacle we had for many years. Their solution meant minimal intervention from us and any elements that did require our involvement were clearly explained. The end result is a highly intuitive workflow that is easy to understand and a breeze to make FX alterations" reveals Gayle.
Time-saving efficiency gains
By partnering with ARKK, Datatec Financial Services reduced the time spent compiling, preparing, and submitting quarterly VAT returns by 30-40%. This substantial reduction allowed the team to focus on more strategic priorities, improving overall productivity and freeing up resources for higher-value tasks.
Automated FX adjustments
ARKK developed a bespoke workflow to automate FX adjustments, eliminating the need for manual data entry and reducing the reliance on secondary controls for validation. This automation not only minimized the risk of errors but also ensured greater accuracy in FX data handling, streamlining Datatec’s processes.
Enhanced VAT management and compliance
Through the ARKK Automation Platform, Datatec established a uniform VAT process that provided better visibility and easier management. This solution ensured regulatory compliance while significantly simplifying workflows, enabling Datatec to meet tax obligations more efficiently and with greater confidence.
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Click below to learn more about our tax automation services.
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