Success Story | Nakheel
How Azdan Helped Nakheel Automate their VAT Reporting Process
About Nakheel
Nakheel is a leading Dubai-based developer known for iconic projects, including master communities, residential properties, retail outlets, and leisure destinations. Their waterfront developments, like Palm Jumeirah, have extended Dubai's coastline by over 300 kilometers, with seafront homes, resorts, hotels, and attractions.
Their expansive master developments cover 15,000 hectares, accommodating nearly 300,000 people, and offering diverse destinations and facilities for residents and tourists. Their Malls operates six million square feet of retail space, featuring popular shopping malls, dining, entertainment venues, and their Pavilions.
Company
Nakheel
Location
United Arab Emirates
Industry
Real Estate
Azdan Solution
Oracle Enterprise Performance Management
Employees
1,000+ Employees
Business Situation
It is one of the world’s leading developers and a major contributor to realizing the vision of Dubai. Their finance department found that stand-alone tax provision solutions or add-ons to their tax return software simply do not solve the data challenge. Their project portfolio comprises a range of hotels and resorts, from five-star, luxury establishments to modest accommodation, as well as community clubs, restaurants and lounges. Their residential leasing portfolio features almost 17,000 villas and apartments across Dubai.
Solution
Azdan VAT Reporting Tool provides one comprehensive solution to generate the VAT return report. your zero Level transactions will be imported into the system using a data management module, and the data management tool can integrate with different source systems (Oracle EBS, People Soft, Excel Sheet .. Etc).
Results
- Azdan consultants implemented a supplemental data management tool, creating a centralized repository for manual input:
They witnessed improvements in its tax process through the implementation of a configurable task management and calendaring framework.
The new framework is seamlessly integrated with finance systems, enhancing efficiency and accuracy.
The tax process optimization resulted in a 30% reduction in manual errors.
They experienced streamlined operations and improved compliance through the centralized repository.
The configurable task management and calendaring framework saved time and increased productivity by 25%.
