Saphyre, Inc., a pioneering force in financial operations technology, and Global Tax Recovery, an expert in tax reclaim services, have entered into a strategic arrangement to streamline tax reclaim processing, alleviating complexity, and reducing operational overhead for asset managers and asset owners.
Tax reclaim processing has traditionally been laborious and time-consuming, requiring in-depth knowledge of various jurisdictions’ complex tax laws and treaties. This collaboration delivers a seamless solution that optimizes outsourced tax reclaim processing by giving Global Tax Recovery direct access to Saphyre’s real-time, verified, ‘golden source’ of fund/account data and documents including critical market and tax details.
By leveraging Saphyre’s real-time data, Global Tax Recovery is well positioned to deliver a seamless, cost-effective tax reclaim solution to Saphyre customers.
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“Asset managers and institutional investors encounter significant complexities and inefficiencies in managing tax reclaims, which can ultimately impact investment performance,” remarked Ray Shivers, COO of Saphyre. “Through our collaboration with Global Tax Recovery, Saphyre provides a solution that assists with alleviating these challenges by providing a seamless and innovative solution [to share information] that empowers customers to reclaim taxes effectively in order to optimize their investment strategies.”
“Data procurement is an essential factor in being able to execute reclaims faster and more efficiently,” says Mark Friedman, Founder and joint CEO of Global Tax Recovery. “Our collaboration with Saphyre further enhances our ability to provide clients with a seamless and effortless reclaim process. This is beneficial on multiple levels, primarily, because it gives our clients the time back to focus on what’s most important – their business.”
The arrangement underscores both Saphyre’s and Global Tax Recovery’s commitment to driving innovation in the financial industry and providing solutions that address the evolving needs of its clients. Together, they aim to set new standards for efficiency, accuracy, and transparency in financial operations.
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