Way2VAT’s (ASX:W2V) partnership with Circula beefs up its European footprint

Highlights

• Way2VAT has inked a partnership agreement with Circula to boost the availability of Way2VAT SMB products in the DACH region.
• The partnership allows for seamless integration of the W2V platform through two systems for the first time.
• The availability of the W2V platform to SMB and Enterprise Circula clients will help in enhancing compliance and automation of VAT/GST claim and returns.

Way2VAT Ltd (ASX:W2V), a global leader in automated VAT/GST claim and return solutions, has secured a partnership with Circula, the biggest expense management solution provider in Germany, further expanding the reach of its automated VAT claim and return solutions products.

This partnership will enable Circula clients to use automated VAT claim and return solutions product for small and medium-sized businesses (SMBs) via two seamlessly integrated systems. 

Over the recent period, W2V has significantly expanded its reach globally across 40 countries through key partnerships.

RELATED ARTICLE: Way2VAT (ASX:W2V) delivers strong performance during FY21, revenue up 28%

Why Circula?

An expense management solution provider, Circula offers digital expense management, comprising invoice processing, corporate travel, payment, and auditing to companies throughout Europe.

Circula also has an integration with popular accounting system DATEV, which for the first time will allow the W2V platform to be seamlessly integrated through two systems– travel & expenses and accounts payable.

Source: © Andreypopov | Megapixl.com

RELATED ARTICLE: How is Way2VAT (ASX:W2V) positioned amid VAT/GST claim and return shift towards automated process?

Circula will proactively engage in offering the W2V platform to its clients. This partnership will operate across thousands of organisations throughout Europe, with special focus on the DACH region, including Germany, Austria and Switzerland.

Revenue generation and synergies

The one-year contract with clients, based on every successful VAT reclaim transaction processed by W2V through its platform, will help in generating revenue for W2V. W2V has the capacity to process large numbers of reclaims while keeping the cost of processing low.

W2V believes that the seamless integration will offer convenience for end-users as Circula can offer their clients an additional service without any hassle. Clients can benefit from the W2V automated VAT reclaim service and avail a refund for the VAT charged to their business without the need to send W2V any data or spend resources on an integration.

This means that the clients can get their money back without changing the processes.

Source: W2V Announcement 04/04/22

RELATED ARTICLE: Way2VAT (ASX:W2V) posts significant growth across businesses in December quarter

Benefits for Circula and its clients 

W2V believes that its ability to integrate its platform quickly and conveniently will empower Circula’s SMB clients to engage in hassle-free VAT reclaims while delivering increased revenue back to their organisations.

This will save time and other resources for clients while helping them meet validation and compliance protocols, no matter from where the invoices have been issued.

Source: © Andreypopov | Megapixl.com

RELATED ARTICLE: Way2Vat (ASX:W2V) inks deal with Germany’s largest toy manufacturer, shares jump 4%   

Since significant international business takes place every day across these countries in central Europe, this integration is believed to be one of the key needs for the region.

Bottom Line

All in all, the partnership agreement with Circula establishes a key strategic partner for W2V, with a two-year duration of the agreement and an automatic renewal option. The synergies through the partnership would enable W2V as well as Circula to draw significant benefits.

ALSO READ: Way2VAT makes inroads into UK market with new Allocate deal

W2V stock was noted at AU$0.052 during early hours on 04 April 2022.