Melbourne, FL. / 10 January 2022 – Satcom Direct (SD), the business aviation solutions provider, and MySky, the AI-powered spend management platform, today announced the signing of an agreement with tax reclamation experts, VAT IT USA. The three-way strategic integration enables the companies to combine their expertise to deliver streamlined VAT and tax reclamation to mutual customers by leveraging each partner’s technology.
The aggregation of the VAT IT tax recovery option with the MySky financial module, within the digital flight operations platform SD Pro®, acts as a force multiplier for flight departments, operators, and owners. After a complimentary one time sign up to VAT IT, inputted expense and invoice data will be assessed and processed by the tax specialists to initiate the VAT reclamation which saves money, reduces workload, and improves the overall ownership experience. For those requiring Mineral Oil Tax reclamation, the VAT IT module also supports the highly complicated reclamation process to further enhance the offering.
“This arrangement showcases the benefits of our open architecture platform, which allows integration of third-party suppliers to deliver tangible added value to the user experience,” says Chris Moore, president business aviation, Satcom Direct. “We support an established, international, customer base that uses SD Pro to manage all aspects of flight operations, MySky has the technology to streamline financial management for operators and flight departments, and VAT IT has the expertise to facilitate valuable VAT reclamation for its clients. With this alliance we are truly optimizing the power of integration to better serve our customers.”
The new agreement enables an unprecedented means of improving tax recovery, an often cumbersome, and ignored, time-consuming task. “The addition of VAT IT to the combined benefits of SD Pro and MySky heightens fiscal control and efficiencies, giving flight departments and operators significantly bolstered financial and taxation support. By simplifying tax recovery, we are delivering a winning formula for all stakeholders involved with managing the aircraft budgets; even corporate financial departments will welcome the VAT recovery option,” says Carl de Lange, managing director of VAT IT USA.
The MySky module in SD Pro provides unrivaled access to financial data and proprietary IT tools that help owners and operators reduce costs, refine spending, and improve the overall aircraft ownership experience. The new alliance strengthens the offering by augmenting financial management, “MySky strongly believes in the importance of increasing efficiency for business aviation owners and operators. We are delighted that the alliance with SD and VAT IT significantly simplifies processes and saves time for users. This is another step forward to making operations smoother and more transparent within our sector,” adds Jean De Looz, MySky managing director Americas.
The first phase of the integration will begin immediately, allowing SD and MySky users to sign-up for the gratis VAT IT service, with the full tax reclamation service slated to be made available through SD Pro and MySky in Q2 2022.
About Satcom Direct: Satcom Direct (SD) is founded on a core belief of understanding the value of time and the importance of maximizing it. The company mobilizes the most cutting-edge technologies to enable connection, wherever you might be. SD’s proprietary technologies span business aviation, marine, government and telecommunications sectors, with the singular goal of leading connectivity industry standards.
Harnessing a powerful combination of tools, SD delivers consistent, reliable connectivity across the globe. Proprietary software, hardware, terrestrial infrastructure, cybersecurity solutions and award-winning customer services create tailored data services for each individual customer mission. The aim is to enhance the passenger experience, improve efficiencies and give back precious time by providing connectivity beyond all expectations.
SD World Headquarters is located in the heart of the Space Coast in Melbourne, Florida, with 14 additional locations in 11 countries including UK, UAE, Switzerland, Singapore, Australia, Russia, and Brazil plus a hardware development and manufacturing base in Ottawa, Canada. For more information regarding SD, visit www.satcomdirect.com, e-mail email@example.com, or call U.S. +1.321.777.3000 or UK +44.1252.554.460.
About MySky: MySky is the only AI-powered spend management platform developed for the private aviation industry. Using AI, optical character recognition, and machine learning, MySky brings standardization and transparency to an unregulated industry. The platform, a proprietary financial management solution, helps to decrease costs and optimize time for private jet owners, operators, and consultants. Active for more than 5 years and servicing more than 350 aircraft worldwide, MySky operates as an independent, third-party player and offers the largest cost database in the industry. The company is headquartered in Switzerland and is active in Europe, the Americas, and the CIS. For more information, please visit https://mysky.com/.
About VAT IT: VAT IT has been involved in the cross-border VAT reclaim industry for more than 20 years and has evolved into the leading provider of VAT recovery services internationally. VAT IT offers a full, end-to-end Foreign & Domestic VAT reclaim solution to over 14,000 companies in over 117 different countries. The tailor-made service and industry-leading technology are designed to maximize Foreign & Domestic VAT savings and compliance. Our advanced expertise in the aviation industry has allowed us to recover millions of dollars straight back to our clients.
VAT IT has a purpose-built AI solution that utilizes OCR and machine learning to capture and compliance check business related invoices for input VAT recovery. We maximize returns by reissuing non-compliant invoices and analyzing your business VAT exposure and leakage. We envision ourselves as an extension of your finance team, freeing your employees to focus on critical areas of the business function. Our hybrid solution combines the latest cutting-edge technology with the experience and knowledge of our professional account managers, predominantly ACA qualified, to simplify the complex world of VAT. For more information, please visit https://vatit.com/.