Expansion comes amid plans to invest up to $20m into the region over the next three years
Global financial services technology enterprise ClearTax is expanding its operations in Saudi Arabia to offer cloud-based digital solutions.
The expansion comes amid the company’s plans to invest up to $20m into the region over the next three years.
In line with the official mandate in the kingdom for cloud-based e-invoicing, all of ClearTax’s products and services will be cloud-enabled.
The company also plans to launch its e-invoicing solutions in Bahrain, Oman, Kuwait and the UAE. “As the biggest market in the GCC, Saudi Arabia offers us the sounding board to grow and expand across the region, which is fast embracing cloud-based services. We have proven our competencies in digitisation and tech innovation, underpinned by strong security protocols, and our strategic ambition is to be the leading tech, compliance and e-invoicing leader in the Middle East,” said Rohit Razdan, chief business officer at ClearTax.
He added: “Bringing exceptional experience in technology solutions relating to tax, compliance and supply chain financing, we focus on enabling businesses to eliminate the risk of non-compliance in order for them to stay 100 per cent compliant. Our 360-degree expertise in finance technology enables us to develop and deliver custom-made software solutions to suit any business architecture, processes and systems.”
Meanwhile, as a technology solutions provider compliant with the guidelines of the Zakat, Tax and Customs Authority (ZATCA) of Saudi Arabia for the first phase of e-invoicing – Fatoorah, ClearTax has built a strong footprint in the kingdom following the launch of its cloud-based electronic invoicing solution for medium to large enterprises in 2021.
Cleartax at ZATCA conference
Last week, Cleartax showcased its solutions at the Zakat Tax and Customs Conference 2023 which was organised by ZATCA.
Speaking about its participation at the ZATCA Conference, Archit Gupta, founder and CEO of ClearTax, said: ““ZATCA has been a driving force in this digitisation journey by introducing forward-looking mandates, such as the second phase of e-invoicing, which will contribute to a vibrant business ecosystem. As one of the world’s fastest-growing B2B SaaS companies, we are bringing innovative cloud-based solutions that will benefit Saudi businesses as well as enterprises across the GCC.”
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