Cross-functional wins for finance, procurement, accounts payable, and tax groups.
Unlike sales tax determinations and calculations, which are handled by a company’s indirect tax group, consumer tax determinations are often performed manually by the AP professionals responsible for paying vendor invoices. AP teams are responsible for processing invoices, rooting out inefficiencies, managing 1099 compliance, preventing fraud and managing vendors among other core competencies. That said, relatively few AP professionals are trained to manage nuanced use tax determinations–even though they are often called on to do so.
When vendors charge too much or too little tax and these errors are not swiftly detected and corrected, unpleasant outcomes arise, such as budget overruns, unexpected use tax accruals, compliance issues, and more.
Read Fourfold Benefits of Adding Consumer Use Tax Content to Your O Series Tax Engine to discover the benefits of consumer use tax management for your organization.
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