Intelligent Fin.tech Issue 02 | Page 33

FEATURE

Konesh Soluciones ( Konesh ) is authorised by the Mexican Tax Administration Service ( SAT ) to assist clients throughout Mexico with the secure preparation and transmission of electronic tax documents . As an Authorised Certification Provider ( PAC ), Konesh is subject to regular audits and must meet strict security requirements . To maintain this authorisation , it must meet and exceed stringent compliance and security standards . The company must also meet the equally strict standards of clients in the financial and other vital economic sectors , who entrust Konesh with their sensitive data .

Founded in Mexico City in 2006 , Konesh was among the first Mexican businesses to be designated by the SAT as a PAC . In Mexico today , nearly eight in 10 ( 79 %) of all invoices , payroll and commercial transactions pass through the country ’ s 68 PACs , with Konesh currently ranking third for the volume and the total number of taxpayers it serves .
Throughout its history , Konesh has created more than 1.5 billion documents for 450,000 taxpayers , including 200 of the largest and best-known companies in Mexico and Latin America , as well as prominent multinational companies such as PepsiCo ; Femsa ; Inbursa ; Oxxo ; Louis Vuitton ; and Burberry . Konesh is also known for its electronic invoicing , electronic document exchange and analytical information visualisation services and for helping companies create value and achieve efficiencies in tax risk prevention , e-invoicing and supply chain management .
The obstacles Konesh Soluciones faced tax revenue became essential to the Mexican government .
At the heart of tax collection are the PACs , which form an orderly and structured data ecosystem and fuel one of the world ’ s most advanced and recognised tax collection models . These PACs made a decisive impact on national transformation projects and priorities during COVID-19 , and by contributing to the fulfilment of taxpayer obligations , Konesh shared the critical responsibility of enabling a significant part of the country ’ s tax collection .
Konesh is also responsible for absorbing , communicating and correctly implementing the tax implications of all new regulations , including CFDI , which is an electronic invoicing and digital tax receipt system that only PACs can use for tax transactions .
“ To sell anything in Mexico , a business must issue a tax receipt – an electronic invoice ,” said Héctor Gutiérrez , Chief Executive Officer , Konesh Soluciones . “ And you can ’ t pay someone their salary if you don ’ t issue an electronic invoice . Every transaction in our country is secured by CFDI – it ’ s required to receive income .”
New in 2022 , Carta Porte requires the issuance of digital tax documents whenever goods are transferred within Mexican territory . With several clients actively using CFDI 4.0 and others currently in the process of migrating , Konesh worked diligently to become compliant with all new provisions . With help from Rackspace Technology , Konesh also implemented Carta Porte on a tight government deadline for several key clients , including retailers Oxxo and Palacio de Hierro .
How Rackspace Technology helped
Innovating with analytics for better client outcomes : Datzilla
Recently Konesh developed Datzilla , a Big Data tool to be able to respond to SAT systems in real-time . Datzilla is a highly
At the outset of the pandemic , there were many major government projects underway . At the same time , the government began to face vital income disruption from industries and revenue resources ( including oil , tourism , transportation and trade ) that were hit hard by the pandemic . Seemingly overnight , the ability to collect
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