10m MC.
Record annual revenue of 3.3 m and that was before the AI was launched in 80 countries.
Could the revenue double or go 10 fold ?
Way2VAT launches new AI-driven automated auditing product, ‘AI-AP Compliance'•
World-first ‘document first’ compliance technology can be used in 80 countries•
W2V Compliance automatically performs full auditing on accounts payable anddomestic VAT/ GST invoices up to four years old•
Way2VAT will charge a standard rate per invoice plus 20% of reclaims, workingwith enterprise clients with a minimum of 10,000 invoices to be audited
“The last quarter of the financial year is traditionally a strong period, and I’m pleased to report wefinished FY23 with our biggest quarter to date reaching the $1 million quarterly revenue milestonefor the first time, and record annual revenue of $3.3 million.
“The 12% decrease in cash receipts this quarter was due to processing delays at some governmentauthorities, which meant Way2VAT collected ~$500k in commissioned receipts from clients duringthe first two weeks of January, rather than in late December 2023 when the money was expected.
“Our operating cash expenses continued to decrease in line with our strategies to reduce expenses
and accelerate our pathway to profitability.
IMO
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