Tax API in action
Aeco and Bothive jointly launched a chatbot that makes gross to net calculations based on Belgian tax legislation. By leveraging the Tax API (Aeco) and chatbot technology (Bothive), the application was production ready in no time.
About the use case
Bothive is a technology company that created a communication platform for accountants. One of the features of the communication platform is Sophia, a chatbot that answers frequently asked questions about taxes and other related topics. Sophia helps automate the accounting process and lowers the administrative burden for the accountant.
Many self-employed entrepreneurs want to know how their gross revenue translates into net income. Unfortunately, Belgian tax legislation is rather complex and the calculations require an advanced insight into these rules. From the accountant/tax expert point of view, these types of questions are not necessarily difficult but impose an additional burden on their already busy agenda. Using tax technology for this use case is a no brainer since it ensures that a client gets answers without placing a burden on the tax expert.
Gross to net calculations are a great example of tax expertise that can be automated ensuring clients get their answers without placing a burden on the tax expert.
Chatbot as a tax technology tool
Using chatbots as a tax technology tool is a great way to make difficult calculations easily accessible to a wider audience. Chatbots are typically an example of user-friendly interactions that lead to great user experiences. The user is guided through complex questions by an innovative technology that provides explanations along the way and ensures users don't get overwhelmed.
Benefits for clients:
- Great user experience
- Ease of use
Benefits for tax advisors:
- Insights and data
- Great client service
- Time savings
How Bothive used Aeco's Tax API
The Tax API is a novel way to digitally interact with tax regulations and allows you to access tax legislation in a programmable format. Aeco's Tax API is a state-of-the-art and patent-pending technology that enables programmatic access to tax regulations in order for companies, governments and universities to quickly access tax regulations and use them across their projects in a digital and integrated way.
Thanks to the Tax API, Bothive was able to efficiently create a gross to net calculator without having to worry about the tax expertise. The alternative would be a time consuming process where Bothive would have to acquire the necessary tax knowledge internally or pay a tax expert to develop the solutions. Both alternatives would be costly and time consuming.
Thanks to Aeco's Tax API, we were able to quickly and efficiently create value for our accountants without having to worry about the tax expertise. Brecht, Co-founder Bothive