Helping KYLAND to achieve tax compliance for German companies and integrated synergies with domestic companies
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Industrial Internet Solutions
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Industrial Internet Underlying Technologies
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Listed Company
KYLAND
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German Subsidiary
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German and EU tax localisation
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Industrial control technology
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Industrial operating systems
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Industrial communication network products
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Software for industrial tools
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Customer Profile
KYLAND is committed to the research of industrial control technology and network technology, and has independently researched and developed industrial operating systems, industrial network chips, industrial tool software and other industrial Internet underlying technologies, and has promoted software-defined control technology and full IP-based industrial network in the industrial field, so as to realise the convergence of informatisation and industrialised communication network. KYLAND is the leader of the Industrial Internet Substrate Technology Working Group of the Ministry of Industry and Information Technology (MIIT), and is recognised by the MIIT as China's single champion of industrial communication. KYLAND's products have been widely used in high-speed railway, power grid, petrochemical industry, factory automation, clean energy and other fields.
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Informatics Challenges
1. Lack of local operation system of KYLAND: KYLAND Germany GmbH was established in 2013, which is an important step of KYLAND's international development strategy; KYLAND Germany GmbH was established nearly ten years ago, and it relies on handwork for market development and customer management, and uses local bookkeeping software for business financial management, which is not able to satisfy the rapid development of the local business and the standardisation of the operation requirements;
2.Local tax compliance in Germany: through the agency bookkeeping company for business financial data conversion and local tax reporting, the autonomy of financial management is very poor;
3.Inefficient collaboration between the German company and domestic sister companies: the bookkeeping software used by the German company and the domestic financial system of the Beijing company are not connected, and the collaboration relies on emails and manual communication.
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Solutions
1.Reshape the overseas group structure: including KYLAND (virtual headquarters)-European holding company-German subsidiary-Beijing subsidiary;
2.Using NetSuite platform to unify the management of KYLAND's German and Beijing subsidiaries, and systematically reshape the respective business and financial processes of the two subsidiaries as well as the inter-company related transaction processes;
3.Localisation of the German company's finance and taxation:
(1) The German company used the international tax package that comes with NetSuite to solve the tax reporting compliance problems required by Germany and the EU;
(2) Hitpoint and German company finance together with the German tax code and tax rate system: OS-DE, ES-DE, S-DE, ZX-DE, etc., the tax rate regardless of the associated commodities, and at the same time associated with the customer and the address of sending and receiving (the difference between inside and outside the EU is very big);
(3) Configuration of the financial process of the German company's inventory and sales as well as the reshaping of the associated transactions with the Beijing company;
(4) Personalised management of Beijing company: purchase order synergy with Yichang production base, systematic standardisation of customs and shipping documents.
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Customer Benefits
Hitpoint based on NetSuite set of systems to solve the KYLAND Group's overseas management and with the domestic supply chain company's synergies, for the future rapid expansion of overseas business to lay a solid foundation.
