20 June 2024, London, UK – Global Tax Recovery, an expert in tax reclaim services, and Saphyre, a pioneering force in financial operations technology, have partnered to streamline tax reclaim processing, alleviating complexity, enhancing investment performance, and reducing operational overhead for asset managers and asset owners. 

Tax reclaim processing has traditionally been laborious and time-consuming, requiring in-depth knowledge of various jurisdictions’ complex tax laws and treaties. This collaboration delivers a seamless solution that optimizes outsourced tax reclaim processing by giving Global Tax Recovery direct access to Saphyre’s real-time, verified, ‘golden source’ of fund/account data and documents including critical market and tax details. 

By aligning their offerings, both organizations are optimally positioned to deliver the most efficient, cost-effective tax reclaim solution on the market.   

“Data procurement is an essential factor in being able to execute reclaims faster and more efficiently” says Mark Friedman, Founder and joint CEO of Global Tax Recovery. “Our collaboration with Saphyre further enhances our ability to provide clients with a seamless and effortless reclaim process. This is beneficial on multiple levels, primarily, because it gives our clients the time back to focus on what’s most important – their business.”  

“Asset managers and institutional investors encounter significant complexities and inefficiencies in managing tax reclaims, which can ultimately impact investment performance,” remarked Ray Shivers, COO of Saphyre. “Through our collaboration with Global Tax Recovery, we aim to alleviate these challenges by providing a seamless and innovative solution that empowers our clients to reclaim taxes effectively in order to optimize their investment strategies.” 

The partnership underscores both Global Tax Recovery’s and Saphyre’s commitment to driving innovation in the financial industry and providing holistic solutions that address the evolving needs of its clients. Together, they aim to set new standards for efficiency, accuracy, and transparency in financial operations.