Blue Dot & KPMG Germany Form Strategic Alliance On Offering Jointly Taxable Employee Benefits Technology

Blue dot's state-of-the-art AI, combined with KPMG's local tax and market expertise, will allow German businesses to use technology customized for the German market support compliance for German clients

Amsterdam /PRNewswire/ - Blue dot, a leading tax platform for employee-driven spend for Taxable Employee Benefits analysis and VAT recovery, announced today a strategic alliance with KPMG Germany. Through this alliance, KPMG Germany can now offer the Blue dot Taxable Employee Benefits (TEB) solution directly to their clients, with KPMG supporting the clients on its implementation, configuration options of submitted transactions by employees for reimbursement for VAT and Employment Tax purposes and where necessary provide professional support as a managed services to comply documentation and effective control mechanisms.

KPMG is one of the leading advisory firms in Germany providing audit, tax, consulting, and deal advisory services to its clients. As data volumes continue to increase and businesses keep expanding locally and globally, also employees incur a wider variety of expenses. KPMG sees an increasing need for tax technology, from finance, tax and payroll departments in order to keep control over this data.

This strategic alliance will allow KPMG Germany to have their clients enjoy the capabilities and features the global Blue dot platform offers. At the same time, KPMG Germany can support its clients on the ongoing operation and keeping the solution up-to-date with the latest legal changes.

The Blue dot tax products suite is unique for its ability to process and read receipt images in combination with other records retrieved from other source systems. Having being developing country specific data processing capabilities and data models for almost 10 years, in the specific domain of the employee-driven spend, allows Blue dot to provide an unique solution to ensure effortless tax compliance and automation for Taxable Employee Benefits (TEB) for Germany and beyond.

"We are excited to further expand our footprint side-by-side with one of the most recognized tax advisory firms, in a market so well known for its commitment to corporate tax compliance. We have been working already with the KPMG Germany Employment Tax team on different projects and this alliance is a formal confirmation and mutual appreciation of this close collaboration and trust in this joined offering," said Remco Dewaerheijt, VP Tax Product Strategy & Content at Blue dot.

"We are pleased to announce this alliance with Blue dot and look forward to combining our professional and technical know-how in a market that is both from a client'5s side and authorities' side becoming more and more technology driven," said Marco Strootmann, partner Employment Tax Services at KPMG Germany. "It also allows us to not only advise our clients on this change in approach towards compliance, but also actually helping them to implement and run tech solutions to meet their compliance obligations."

Blue dot has a broad suite of direct native integrations with multiple expense management platforms, such as SAP Concur, Coupa, MXP Rydoo, Yokoy and many other leading expense platforms , which simplifies connecting to different data sources. Additionally, clients can benefit from KPMG Germany's specific local legal expertise and industry knowledge when implementing and running the Blue dot solution.

About Blue dot
Founded in 2013, Blue dot is a market pioneer in the tax tech arena, having developed the first technology-based and dynamically updated financial platform for employee-driven transactions in the market. The Blue dot tax compliance platform harnesses digitization, tax compliance and automation to process and analyze a company's employee spend data for value-added tax and taxable employee benefits. As a privately held company, Blue dot's technological breakthrough has raised more than $100M in private equity funding and attracted a large portfolio of Fortune 500 clients. Blue dot is fully dedicated to providing its clients with value, not only in terms of process savings and ROI, but especially in meeting local compliance obligations. For more information visit www.bluedotcorp.com.

About KPMG
KPMG is an organization of independent member firms with around 236,000 employees in 145 countries. In Germany KPMG is one of the leading auditing, tax and advisory firms in Germany and has around 12,200 employees in 26 locations, serving the needs of business, governments, public-sector agencies, not-for-profits and through KPMG firms' audit and assurance practices, the capital markets. KPMG is committed to quality and service excellence in all that we do, bringing our best to clients and earning the public's trust through our actions and behaviours both professionally and personally.

Marco Strootmann is specialized on wage tax topics incl. wage tax process consulting and implementation and auditing of tax compliance management systems within the meaning of IDW AS 980. Further he supports the standardisation and - where appropriate - automation of employment tax related processes, especially in the area of taxation of events, hospitality and other benefits in kind.