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Wasabil Automates Tax & Financial Hurdles for SMEs in Chile & Beyond

Chilean startup Wasabil is tackling a significant pain point for small and medium-sized enterprises (SMEs): the complexities of managing digital expenses and navigating the Value Added Tax (VAT) landscape. Founded by Benjamín Pérez, Ignacio Domeyko, Pablo González, and Sergio Peña y Lillo, Wasabil offers a suite of tools designed to automate tax and financial processes, reducing errors and streamlining operations.

The Challenge: VAT and Digital Expenses

The core problem Wasabil addresses is the difficulty in declaring expenses incurred through digital platforms like Shopify, Google, and Meta. According to co-founder and CEO Benjamín Pérez, “The pain has to do with declaring digital expenses. If my company occupies Shopify, Google or Meta, declaring those expenses is a manual and super unknown process.”

From Tax Recovery to a Complete Suite

Initially focused on tax recovery for digital expenses,Wasabil has evolved into a more comprehensive platform. Today it offers three complementary verticals: expense declaration for foreign spend, electronic billing, and invoicing specifically for eCommerce. The startup has integrated with platforms like Shopify,adding features like automatic ticket and invoice issuance,credit note generation for returns,and recurring billing in UF.

A Subscription-Based Model Designed for accessibility

Wasabil operates on a monthly subscription model,tiered to volume of expenses and documentation. “He is designed so that it is never a burden that one says ‘I am interested, but I can’t do it,'” says Pérez. Free trials are available, making it accessible to small businesses and startups without requiring upfront payment data.

Backed by the chilean ecosystem

The company has received support from the Chilean startup ecosystem, securing capital from Platanus Ventures, Startup Chile, and the mexican Fund Blue Zone. Wasabil is currently participating in the Ignite program of Startup chile and Endeavor Lab.

Embracing Artificial Intelligence

Wasabil has incorporated artificial intelligence (AI) into its processes, utilizing the technology for document reading and customer support. Future progress includes enabling users to interact directly with the platform’s data and invoices using AI-powered queries.

A Competitive Advantage: Chile’s Advanced e-Invoicing System

Pérez emphasizes that Chile’s advanced electronic billing system gives Wasabil a significant competitive advantage in the Latin American market. “We are between 2 and 10 years ahead of many countries,” he stated.The company is cautiously evaluating international expansion.

Ultimately, Wasabil aims to simplify financial management for businesses of all sizes, allowing them to focus on growth and innovation.

How does Wasabil differentiate its approach to digital expense management from solutions that primarily rely on virtual assistant support?

Digital Expense Management Challenges: Insights from Benjamin Pérez, Co-Founder and CEO of Wasabil

The Evolving Landscape of Digital Expense Reporting

Benjamin Pérez, Co-Founder and CEO of Wasabil, a leading provider of automated expense management solutions, consistently points to a critical shift in how businesses approach expense reporting. The days of manual spreadsheets and paper receipts are rapidly fading, replaced by a complex ecosystem of digital tools and platforms. This transition, while offering critically important benefits, introduces a new set of challenges. These aren’t tasks easily handled by generalized virtual assistant support; they require specialized expertise, especially in content creation and data interpretation.

Why Conventional Approaches to Expense Management Fall Short

Many companies still rely on outdated methods, leading to inefficiencies and inaccuracies. Common pain points include:

* Manual Data Entry: Time-consuming and prone to errors, impacting accounting accuracy.

* Lost Receipts: A significant source of non-compliance and lost revenue.

* Lack of Real-Time Visibility: Hinders informed decision-making and budget control.

* Complex Policy Enforcement: Difficult to consistently apply expense policies across the institution.

* Integration Issues: Disconnected systems create data silos and reconciliation headaches.

These issues aren’t simply about collecting expense data; they’re about understanding it. This is where the need for specialized content writing,focused on expense data analysis and policy interaction,becomes paramount.

The Rise of Digital Expense Tools & Associated Complexities

The market is flooded with digital expense management software – from simple receipt scanning apps to comprehensive enterprise solutions. While these tools automate many tasks, they also create new complexities:

* Data Security & Compliance: Protecting sensitive financial data is crucial, requiring robust security measures and adherence to regulations like GDPR and CCPA.

* Integration with Accounting Systems: Seamless integration with platforms like QuickBooks, Xero, and NetSuite is essential for accurate financial reporting.

* Mobile Expense Reporting: Employees expect to submit expenses on the go, demanding user-friendly mobile apps.

* Automated Policy Enforcement: Configuring and maintaining expense policies within the software requires careful attention to detail.

* Fraud Detection: Identifying and preventing fraudulent expense claims is a growing concern.

The Unexpected Need for Specialized content Writing in Expense Management

Pérez emphasizes a key disconnect: companies often underestimate the importance of clear, concise communication surrounding expense policies and procedures. Simply having a digital expense tool isn’t enough. Employees need to understand how to use it effectively and why certain policies are in place.

This is where specialized content writing comes in. It’s not about generic administrative tasks; it’s about:

* Crafting Clear Expense Policies: Translating complex regulations into easily understandable guidelines.

* Developing Training Materials: Creating tutorials,FAQs,and guides to help employees navigate the expense reporting process.

* generating Reports & Insights: Presenting expense data in a visually appealing and actionable format for management.

* Communicating Policy Updates: Effectively informing employees about changes to expense policies.

* Building Knowledge Bases: Creating comprehensive resources for employees to self-serve answers to common questions.

A virtual assistant can distribute details, but they frequently enough lack the expertise to create it effectively. The nuance of financial regulations and the need for precise language demand a skilled content writer.

Wasabil’s Approach to Tackling digital Expense Challenges

Wasabil focuses on automating the tedious aspects of expense management while providing the tools and resources needed for clear communication and policy enforcement. Key features include:

* AI-Powered Receipt Scanning: Automatically extracts data from receipts, eliminating manual data entry.

* Automated Policy Checks: Flags out-of-policy expenses in real-time.

* Seamless Accounting Integration: Syncs expense data with popular accounting systems.

* Customizable Approval Workflows: Streamlines the expense approval process.

* Detailed Reporting & Analytics: Provides