Award - Innovative Travel Technology of the Year 2018
ADVATAXES is the award winner of the 2018 Innovative Travel Technology. The award was granted on December 4th, 2018 by Levvel Research, formerly known as PayStream Advisors. Levvel is amongst the 500 fastest growing private US corporation in 2018 according to the New York City magazine Inc.
In all, 8 innovation awards were granted; Procurement (Xeeva), Sourcing (LevaData), Contract Management (Icertis), Payables (Medius), Travel (Advataxes), Payments (Tradeshift), Working Capital Supply Chain Finance (PrimeRevenue) and Innovator to Watch (Tesorio). The Levvel Research team evaluated over 90 providers. The process consisted notably of reviewing product demo, in-depth interview and customers’ testimonials.
You can consult Levvel press release here
Within the 2018 award winner providers, Ad Valorem Inc. who owns Advataxes, is the only Canadian company on the list.
The Level Research team was highlighting the simplicity of the Canadian Value Added Tax (VAT) management of Advataxes.
Indeed Advataxes, does not contain any tax code. It is designed to handle recoverable GST/HST and QST efficiently. The software uses a series of matrix for Canadian VAT applicable at the provincial level as well as matrix for class of GST/HST/QST registrants. So, it is definitely no based with the premise that all employees posting travel expenses are sales tax practitioners which is an unrealistic assumption. Furthermore, the software design is oriented to keep an audit trail of the GST/HST and QST paid and does not solely store the end result; GST/HST and QST claimed based under a series of both business and tax rules.
Advataxes is also an invoice-based software, as it embraces this fundamental documentary requirement rules under both subsection 169(4) of the Excise Tax Act and section 201 of an Act respecting the Quebec Sales Tax in order to substantiate claimed Input tax credits and claimed input tax refunds.