Dhaka, Bangladesh, Nov 7, 2022 - Genex Infosys. a business process outsourcing provider, has landed the job of installing electronic fiscal devices and sales data controllers for the National Board of Revenue (NBR), which is expected to boost the provider's revenue for the next 10 years.
The company will also monitor the operation of the devices to be installed to ensure proper collection of value-added tax (VAT) at thousands of retail and wholesale stores in Dhaka and Chattogram.
"The 10-year agreement with NBR is expected to generate approximate gross revenue of Tk212 crore per year upon full rollout within the next five years," Md Jewel Rashed Sarker, chief financial officer (CFO) of Genex Infosys, told The Business Standard.
The tax authorities have taken the initiative to set up electronic fiscal devices (EFDs) and sales data controllers (SDCs) for the collection of VAT and supplementary duty from different types of business entities through the Electronic Fiscal Device Management System.
As a result, Genex Infosys has been tasked as the vendor to set up and operate EFDs, and SDCs through outsourcing, which will collect VAT and SD on behalf of the government.
According to a stock exchange disclosure, under this agreement, Genex Infosys will distribute EFDs and SDCs among eligible retailers and wholesalers and monitor the operation of the installed machines to ensure the collection of VAT and SD.
"Along with that, Genex Infosys will also develop a software solution, termed VAT API system for interfacing with EFD/SDC machines and integrating with ERP/POS solutions existing in the market," read the disclosure.
#contactcenterworld, @genexinfosys
Posted by Veronica Silva Cusi, news correspondent
Source: https://www.tbsnews.net
About Genex:
Genex began its journey in Dhaka, back in 2012 as an initiative of IPE Group, UK with a plan to grow BPO and IT Service industry in emerging countries. Within a short span of time Genex has become the largest Business Process Management & IT Services company in Bangladesh. From 2 to 4000+ employees, Genex expanded its operations in APAC region, managing over 150 million customer interactions a year. In 2019, Genex became the first publicly listed company in the country’s ITeS sector. Excellence in customer service and stellar achievements in business objectives is part of our core, we do so in a smart, cost effective and quality driven manner. Our multinational team of experts possesses the right mix of skills and experience in the field of BPO and IT services. Genex has been awarded with the ICT Solution Provider of the Year by The Daily Star in 2019, National ICT Award by BASIS in 2019, Asia Pacific Alliance Award (APICTA) 2019, Best Large Contact Centre (#Rank 1) & TopPlace2Work for APAC region by ContactCentreWorld in 2018. We were also awarded the Best Outsourcing Partnership Award, under Large Contact Center category, for our partnership with a leading Telecom Operator. We strive for excellence through continuous transformation of business scopes for our clients which ensures significant value addition to our customer’s business. A smart innovator in BPM and IT Services industry; trusted by Global Brands. Solutions & Ser
Published: Tuesday, November 8, 2022
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