SINGAPORE, April 9, 2024 /PRNewswire/ -- KPMG Australia and Geotab, the global leader in telematics technology, have announced a new alliance that enables KPMG's clients to access Geotab technology, thereby expanding KPMG's comprehensive fleet solution offering.
A key example is KPMG's FTC Automator, which analyses vast amounts of data at speed and scale, and harnesses proprietary geo–spatial analytics to process this data, before feeding it into the tax engine to produce Fuel Tax Credit (FTC) entitlement calculations.
The alliance coincides with a favourable ATO Product Ruling that ensures certainty over the tax implications of using the FTC Automator. Product rulings are important as they provide taxpayers with protection against penalty should the ATO subsequently dispute a claim made using the technology.
The technology helps organisations calculate their entitlements for credits on fuel excise, which apply to fuel used in plant, equipment, heavy vehicles and light vehicles (when not used on non–public roads). (link to PR 2024/1)
KPMG Australia's National Leader for Workforce & Innovation, and Tax & Legal's Chief Technology Officer, David P Sofrà, said: "This is a direct response to market demand for a product that has undergone ATO review and testing ahead of its release of a formal, publicly available ruling.
"The ATO Product Ruling sets out the Fuel Tax Credit consequences for KPMG Australia clients using Geotab to calculate their FTC entitlement using KPMG's proprietary FTC Automator solution.
"Our ability to provide businesses with access to Geotab's market–leading technology means not only are we able to support our clients with a holistic, end–to–end fleet technology solution that fulfils their needs, we also have a high degree of confidence in the quality, accuracy and frequency of the data we are able to ingest into the FTC Automator."
The FTC Automator is also able to surface important insights on safety, carbon emissions, fleet optimisation, as well as how viable it is for some, or all, of an organisation's fleet to be electrified.
Sofrà added: "Our clients are increasingly focused on other aspects of fleet management, such as Environmental, Social & Governance (ESG) concerns, including safety and electrification. Having access to Geotab's analytics and insights from over 4 million connected vehicles that use Geotab technology globally is a real boon for our clients and will support them in making informed decisions that are aligned with their strategic goals."
David Brown, Geotab's AVP Sales – APAC, concurs: "KPMG Australia's FTC Automator, now backed by an ATO Product Ruling, is a very welcome and timely addition to the Geotab ecosystem and we look forward to partnering with KPMG's tax technology experts to develop additional, new solutions in the ever–evolving fleet space. Beyond tax, the telematics data KPMG is able to harness for its clients using Geotab will enable it to provide sector insights and industry–peer comparisons on a number of key metrics such as CO2 emissions, fleet utilisation and various others relating to safety."
About Geotab
Geotab is a global leader in connected transportation solutions. We provide telematics — vehicle and asset tracking — solutions to over 50,000 customers in 160 countries. For more than 20 years, we have invested in ground-breaking data research and innovation to enable partners and customers, including Fortune 500 and public sector organisations, to transform their fleets and operations. With over 4 million subscriptions and processing more than 75 billion data points a day, we help customers make better decisions, increase productivity, have safer fleets, and achieve their sustainability goals. Geotab's open platform and the Geotab Marketplace, offers hundreds of third-party solution options. Backed by a team of industry leading data scientists and AI experts, Geotab is unlocking the power of data to understand near real-time and predictive analytics — solving for today's challenges and tomorrow's world. To learn more, visit www.geotab.com/au/, follow @GEOTAB on Twitter and LinkedIn or visit the Geotab Blog.
© 2024 Geotab Inc. All rights reserved. All trademarks property of their respective owners in Canada and other countries. Geotab, the Geotab logo, MyGeotab, Geotab Drive and Geotab Marketplace are trademarks and/or registered trademarks of Geotab Inc. and/or its affiliates. All other trademarks are the property of their respective owners.
Media Contact: Nicole Lambert, nicole.lambert@edelman.com, +61 418 640 081; Ian Welch, KPMG Associate Director, Corporate Affairs, iwelch@kpmg.com.au, + 61 400 818 891
