About Ricoh Europe

Founded in 1936 in Japan, Ricoh is a leader in digital workplaces. With approximately 80,000 employees operating across more than 190 countries, Ricoh helps businesses transform digitally, optimise processes and enhance productivity through a combination of innovative hardware, software and digital services.   

As part of its commitment to continuous improvement and operational efficiency, Ricoh sought to enhance its Travel & Expense (T&E) VAT recovery capabilities across the EMEA region, an area with significant untapped potential. 

Background and challenges

Before partnering with Fintua, Ricoh’s travel VAT recovery efforts across EMEA were limited and fragmented. While local initiatives existed in some markets, there was no unified, streamlined, or scalable approach across regions. This resulted in: 

  • Missed VAT reclaim opportunities 
  • Limited visibility into compliance 
  • Inefficient use of internal resources 

When Ricoh implemented a new digital T&E management tool, they recognised the opportunity to establish a fully compliant, standardised and automated VAT recovery process.

To achieve this, the organisation needed a trusted partner with deep VAT expertise, robust technology and a proven track record in compliance-led automation. 

The partnership

Ricoh’s collaboration with Fintua (previously Taxback International) spans more than a decade. However, the partnership deepened in 2022 when Fintua was selected as Ricoh’s strategic partner to support the EMEA-wide T&E VAT recovery project. 

“The main value Fintua provided since the beginning of the project is the standardisation of VAT recovery processes across the region. We moved from an incongruent and atomised situation to a consistent ‘business-as-usual’ model, creating a solid and commonly shared methodology.” 

— Antonello Simoncini, EMEA Procurement Category Manager, Ricoh 

Together, Ricoh and Fintua developed a regional strategy and service model to onboard all of Richo’s operating companies across EMEA within one year – delivering a seamless transition to a unified VAT recovery process.  

The solution 

Fintua’s Recover solution delivered a comprehensive, compliance-first approach to VAT reclaim across multiple jurisdictions.  

Key features that stood out to Ricoh included: 

  • VAT compliance and data security at every stage of the recovery process 
  • Deep local VAT expertise and market knowledge 
  • Proven audit methodologies ensuring accuracy and reliability 
  • Automated VAT identification and submission, reducing manual effort 
  • Dedicated project management and audit support, ensuring smooth rollout and ongoing compliance 

With limited internal resources required, Ricoh was able to maximise VAT recovery, streamline processes and strengthen confidence in audit and compliance practices across its regional operations. 

Results

Since launching Recover, Ricoh has achieved measurable and lasting results: 

  • High volumes of VAT recovery since project inception 
  • 60% increase in T&E policy compliance across the region 
  • Enhanced visibility and control over VAT processes for improved decision making 
  • Streamlined, automated workflows integrated with existing systems 
  • Improved employee clarity and positive user experiences 
  • Maximised VAT recovery and revenue generation 

Beyond the numbers, the collaboration has transformed Ricoh’s approach to T&E compliance and governance. The detailed audit insights provided by Fintua have enabled the company to identify process gaps, improve internal practices and embed VAT recovery as a strategic business function.   

“More than KPIs, I’d highlight the overall security related to VAT compliance and the constant support from Fintua’s audit and project management teams.” 

— Antonello Simoncini, EMEA Procurement Category Manager, Ricoh 

Looking ahead

With a secure, standardised VAT recovery process now in place, Ricoh continues to build on this success. The organisation is focused on: 

  • Further strengthening internal processes  
  • Extending Fintua’s Recover model to remaining entities 
  • Continuing to align VAT operations with their broader digital transformation strategy 

The collaboration with Fintua has not only maximised recoverable VAT but also delivered lasting improvements across Ricoh’s financial operations.