Tax compliance is a major component in every business’s operations. Achieving this can often be a challenge, even for the most well-developed and versatile organization.
Why Care About Tax Compliance?
In truth, many firms have been misinformed about tax compliance rules, ignoring critical ones that could directly affect them. Some argue they’re “too small,” have “tax-exempt” items or don’t need anything else to manage this aspect.
Yet according to a study by the Wakefield Group, 75% of business accounting professionals admit an audit would uncover major tax errors. Similarly, many smaller and medium-sized companies spend close to $70,000 to achieve sales tax compliance. This has become a pressing issue as many states are enforcing stricter compliance audits to collect lost revenue. For companies without a strong tax tool, this can cause major problems.
Introducing Avalara Tax Compliance
With Avalara’s Automated Compliance Service, you can better handle the changing tax requirements of your business. Many firms often use outdated methods of creating multiple customer records in various departments. This is divided between too many areas and isn’t made to scale to ongoing changes. The result is too complicated, lacks functionality and is prone to human error.
Avalara’s Tax Suite is an end-to-end compliance solution that better corresponds to the rules of your firm. Occupying a central place in your business, it accurately calculates and adjusts to anything related to your organizational needs. Instead of separating your tax requirements by department, this ensures stability for the workplace, avoids critical mistakes and makes you more prepared.
For ERP users, this option can integrate into your Microsoft, SAP, Acumatica and Epicor solutions to provide a more comprehensive workplace system. Creating a better integrated platform for you to achieve your business goals and become fully tax compliant.