Middle East businesses to benefit from robust Finance application which enables easy transition to Value Added Tax (VAT) regime
Chennai, December 20, 2017: Ramco Systems, a global enterprise software company focusing on enterprise cloud platform, products and services today announced that Ramco’s Global Tax Engine is configured to address UAE VAT, which is one of the biggest tax reforms being introduced in the Gulf nation. Ramco’s Finance and Accounting Suite will offer clients’ a VAT-ready application to manage the new tax regime.
Effective 1st January 2018, the UAE government will implement taxation in efforts to diversify its source of revenue. The scalable ERP Financials application from Ramco is VAT compliant and will enable clients’ adhere to statutory regulations as prescribed by the government. The Finance & Accounting module will also handle the input/ output credit and generate settlement forms, ensuring an efficient & accurate VAT compliant ERP – which is Cloud, Mobile and Chatbot enabled.
Virender Aggarwal, CEO, Ramco Systems, said, “The new tax regime opens up opportunity for us to address growing organizations which hitherto managed their Finance on disparate legacy systems that lack the functionality/ depth required to address the changing Finance needs. The robustness of Ramco’s Global Tax Engine coupled with progressive features built for new-age Finance professionals, makes for a fully optimized system to manage operations, both across GCC and globally.”
Offered both on Cloud as well as on premises, Ramco Finance & Accounting is being leveraged by several medium to large-sized organizations both as an integrated solution part of a full suite ERP as well as stand-alone application. Ramco recently entered the Magic Quadrant for Cloud Financials owing to the focus placed on building deep domain-integrated financials and offering next-gen features which bring automation, simplification and cognitive capabilities to the application.
Ramco ERP on Cloud with advanced Finance and Accounting modules equips customers with better visibility, tighter control and improved profitability. Ramco’s focus on innovations in usability, context-awareness, mobility, overall flexibility, apart from a comprehensive set of functionality has enabled smooth transition for customers to the VAT-era with multiple customers already upgrading and opting to be VAT ready.