Link September Issue SEP 2017 fin - Page 40

Technology across GCC. While 21 percent of respondents confirmed that they have initiated preparations to be VAT compliant; 30 percent indicated that they currently have limited information on VAT. “With just a few months until VAT goes live, many companies urgently need to change their business processes, IT systems, and scale up their workforce,” said Aarti Mohan, ERP and EPM application strategy leader, Oracle. “Our advice to all businesses is to start now with a 360 assessment across the business to evaluate the potential impact and transformation needs to quickly become VAT-compliant.” In addition, 47 percent of respondents said that they are awaiting further guidance from local governments before initiating their VAT compliance project. Methodology: Oracle polled 450 senior executives from across the GCC countries from June-July 2017 to analyze the impact of VAT implementation on the regions’ Information and Communications Technology (ICT) landscape. Furthermore, when asked about the biggest obstacles on their journey to be VAT-compliant, 68 percent of respondents said that managing business process changes would be a key challenge. And 38 percent of respondents cited a lack of qualified internal tax experts and another 35 percent were found to be uncertain about the changes that a new technology implementation would bring. 40 September 2017 Technology Innovative Siemens software for end-to-end digitalization of air cargo processes in Dubai • Order for cloud-based platform for dnata Cargo • Improvement to cargo handling along the entire logistics chain • Further enhanced customer experience