Background and challenges

AEG (Anschutz Entertainment Group) is one of the leading sports and entertainment presenters in the world. A wholly owned subsidiary of the Anschutz Company, AEG owns or is affiliated with a collection of companies including over 100 of the world’s preeminent facilities such as the Staples Center in Los Angeles, Sprint Center in Kansas City and the O2 Arena in London.

AEG found it difficult to manage the VAT reclaim process and knew they were missing out on significant savings. Their finance team was facing resource challenges. They found it impossible to effectively monitor, collect receipts and manage reimbursements to their travelers.

Solution

With SAP Concur Expense already in use at the company, we leveraged our direct integration to pull data quickly and accurately -providing a compelling free analysis to share their full VAT recovery potential.

As an AEG partner, we continually work behind the scenes to process VAT reclaims and identify significant refunds for all expense transactions using our Recover solution. Proprietary software integrates data capture, assesses multiple parameters including entities, dates of transactions and countries of spend. Our solution assesses each transaction as either domestic or foreign, calculates the eligibility of each transaction for recovery and quantifies the VAT recovery potential.

Results

AEG has full confidence in their end-to-end fully integrated solution. Fintua provides complete security as we manage the process using powerful, real-time and trusted data provided through SAP Concur.

“I was the only one involved on the AEG side, and all it took were two steps, requesting a certificate from the IRS to allow Taxback International [now Fintua] do the reclaims on our behalf, and running reports…” “I don’t invest an hour a month to this… It’s so easy that I sometimes forget it’s working behind the scenes and putting money back into our bottom line.”

Brandon Weiss VP of Financial Systems & Process Improvement at AEG

Conclusion

By partnering with Fintua, AEG transformed what was once a complex and resource-draining VAT reclaim process into a streamlined, automated, and highly effective solution. With minimal effort required from internal teams, AEG now benefits from continuous VAT recovery. Allowing them to maximise savings and ensure compliance across global operations. The seamless integration with SAP Concur and our deep tax expertise have delivered measurable value. AEG can now focus on what they do best: delivering world-class sports and entertainment experiences.