- Approaches to Indirect Tax Technology: Businesses typically choose between using multiple point solutions from various vendors or a single comprehensive platform to manage their indirect tax technology stack.
- Total Cost of Ownership (TCO) Framework: A cost calculator framework is available to help businesses assess the TCO of their current indirect tax compliance vendors compared to a centralized global approach.
- Cost vs. Efficiency Gains: The decision-making process should evaluate initial and ongoing costs against potential efficiency gains such as reduced errors and streamlined operations when using a single platform.
- Risk Mitigation Considerations: Businesses must factor in the costs associated with non-compliance, penalties, and audit failures that may arise from system inefficiencies or integration challenges.
- Scalability and Future Costs: It’s essential to assess the scalability of each option and anticipate future costs as the business expands and regulations evolve.
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