Sales and use tax errors are costing most companies an exponential amount of money every year. As such, it’s critical to maintain a defined and repeatable process to get things right. This includes regularly auditing the source data going to your engine, as well as regularly auditing the results coming back from your engine.
For those somewhat new to sales tax automation and/or thinking about leveraging it going forward, there are many other topics you should consider before adopting your ultimate solution. Below are a few that come to mind, along with how our solution can help with each.
1. Implementation: When working in various systems, the setup can often take months or even years to complete. Long implementation processes can be frustrating and hinder performance. With TaxView Pro, our implementation process is efficient and timely. Most clients are up and running in just two months.
2. Configuration: Tax rules, regulations, and rates are constantly changing. When configuring and customizing rules, it is important to build rules that fit for your business, are simple to understand, and yield an accurate result. With TaxView, the rules are easily configurable and can change with your business and associated tax laws.
3. Visibility: Your automation must contain robust reporting to ensure accuracy. Additionally, it’s good to adopt and adhere to reviewing your source data and results on a monthly cadence. Often, looking at data can be complex and take long periods of time. Using TaxView provides granular visibility into all transactions and gives the ability to review them quickly. Gone are the days where data is too complex to comprehend or too difficult to organize.
4. Accuracy and Efficiency: Inaccurate and/or omitted data is the number one cause of sales and use tax errors. Not to mention, it makes the process completely inefficient. With TaxView Pro, we have various ways to identify and fix all associated tax errors in a simple and efficient manner. Furthermore, we guarantee all of our results with our Zero Fee Guarantee.
How much are sales and use tax errors costing you? For most companies the answer is shocking. Tax over and under payments for non-compliance can easily cost companies hundreds of thousands to millions of dollars each year. Ideal for complicated tax requirements, TaxView Pro brings clarity and huge savings to your sales and use tax function. Our turnkey solution is configured at a granular level with all applicable tax rules for your business to calculate the most accurate tax possible. To see more benefits, click the link below.