- Research shows significant savings, accuracy, and ROI from indirect tax technology
- Automated indirect tax technology can impact invoice accuracy, tax department efficiency, and overall profitability
- Reasons to invest in automated IDT software include saving money, protecting against fines, saving time, and making the organization more competitive
- Forrester data shows cost savings and ROI from using ONESOURCE Indirect Tax
- Forrester found that a composite organization experienced benefits of $3.8 million against an implementation cost of $1.7 million, resulting in a ROI of 120% and a net present value of $2.1 million
- Improved accuracy is a key benefit of tax automation, reducing invoice error rates and time required to correct errors.
Source: tax.thomsonreuters.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
