Companies have to deal with multiple applications supporting their sales and accounting business processes. ERPs, Point of Sale software, Intercompany processes automation, billing systems, are some of the examples of data generation systems. That data is federated on the sub-systems and for the purpose of providing a simple and centralized information, integrations must be made.
On that integration process, data can be lost and, worse, can be altered or changed inadvertently. The reporting generated with those issues can lead to management problems (with actions taken based on wrongful information) or even fines from the regulators (again caused by the bad information). The standard audit files or standards for audit, changed the way the companies can deal with that kind of issues. They are the source of digital audit and the opportunity to use them for data integrity.
Acting as an independent system, col.bi can be used for the purpose of automatic auditing, quality and data integrity platform, analyzing information produced by ERPs and complementary systems. Moreover, col.bi can be used as a management tool for the companies as it uses the same raw data that will be or was provided to the regulator.
Companies must assure that the quality of data is properly addressed. col.bi helps on that assurance.
Currently, thousands of companies are using col.bi technology. With col.bi, companies can analyse all their transactions prior to the submission to the tax authorities, in order to avoid reporting wrong informations, tax inspections and disputes. This digital audit and tax software will also ensure the compliance with regulatory report requirements such as SAF-T, ISO 295 PC, VAT Returns or other electronic tax exchange of information format.
col.bi allows companies to perform the analysis of all the data, as well as identifying syntax, integrity, and material problems, by performing a wide set of automated audit procedures on all transactions therein. With automated audit procedures, companies save time, reduce risks, and, in addition, improve their relationship with tax authorities.