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Tax Automation
Software solutions to ensure accurate compliance
Utilizing technology to manage critical indirect tax processes and automate transaction tax decisions reduces the risk of manual errors and improves accuracy and overall efficiency
Most companies operate some form of Enterprise Resource Planning (ERP) software to manage order-to-cash, procure-to-pay and record-to-report processes, but within each process the business must make decisions at the transactional level how to apply indirect tax and, where possible, what tax can be recovered.
Automating decisions and processes on a multi-jurisdictional basis (e.g., cities, counties, states, provinces and countries) requires the implementation of detailed logic. This logic can either be built into the ERP software (i.e., the native environment) or managed through specialist third-party software that interfaces with the ERP system (i.e., the tax engine).
In addition to the method applied for determining tax treatment, the complete system must be able to automate invoicing processes in accordance with local jurisdiction rules, run reports that support indirect tax compliance processes and manage vendor, customer and product data to ensure key information is available to support the various processes.
Our Value
Through our experienced team of global indirect tax and technology professionals, we can help you:
- Determine any improvements to be made and establish the necessary requirements
- Assist in your decision-making as to which options best meet business needs and whether to optimize current software, implement new software or add a tax engine
- Design processes that meet the changing compliance environment, particularly as tax authorities increase the use of technology for filing and auditing purposes
- Configure software to ensure tax decisions are accurate and timely
- Develop reporting requirements necessary to support automated compliance processes
- Ensure invoicing templates meet local jurisdiction rules and regulations
- Assess vendor, customer and product data needs
- Ensure data is mapped accurately and completely when it migrates from one system to another
We provide testing to ensure everything works as designed as well as training for the individuals who will be operating the system.
Learn more about our approach to effective VAT and sales and use tax automation solutions
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TEI Webcast: Scoring your company’s tax technology evolution
Technology can help drive efficiencies for tax departments and help achieve strategic goals. Learn where you stand.