The use of business intelligence tool Cognos has enabled UK shirtmaker Thomas Pink to claw back around £40,000 of revenue which was being lost to the taxman in VAT.
Previous to installation, Thomas Pink paid VAT on shirts sold from its airport shops, as the company could not prove that customers buying their goods were leaving the Eurozone. The use of Cognos allows Pink to check customers paying duty free prices, thus enabling the company to claim the tax rebates they are entitled to.
Pink says the software paid for itself within three months. Other benefits include getting the maximum from legacy systems, and maximising the speed and quality of information, which allows staff to make informed decisions quicker.
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