The right tax engine can provide a relatively simple way to streamline indirect tax calculation globally without worrying about never-ending maintenance and long implementation times.
- Key takeaways:
- Why automate indirect tax?
- What is a tax engine?
- Why don’t I just use my ERP?
- The initial set-up of tax automation can be highly complex and resource-intensive.
- However, the setup-up is only the first step – the tax determination needs to be maintained, normally by internal teams.
- 93% of large companies use multiple ERP systems for tax requirements.
- Benefits of a tax engine
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- Effortlessly access data across all ERPs
- Easy integration
- Lighter maintenance
- Simple scaling
- Understanding tax treatment
- Easier tax compliance
- I’ve decided to go with a tax engine. Which one should I choose?
- Flexibility
- Ease of integration
- Coverage
- Industry knowledge
Source: www.fonoa.com
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