Founded in 1937, Goodin Company is the “Source of Supply” house for plumbing, heating, and air conditioning parts for residential, commercial, and industrial builders, plumbers, and contractors. Currently, they serve the upper Midwest, including Minnesota, Wisconsin, Nebraska, South Dakota, and North Dakota.
The manufacturers whose products they sell must meet their strict guidelines for quality,service, selection, and availability. Likewise, Goodin’s commitment to this goal of quality in every aspect of their business, from the products they sell to the processes and programs they use, has allowed them to grow significantly while maintaining the personal service their customers have come to know and expect.
To this end, Goodin’s fully computerized sales transaction system allows employees direct access to inventory at every branch, as well as important ordering information. Current pricing and inventory, as well as product specifications, are all available at the touch of a button. Goodin says their growth as a company has been made possible by combining traditional delivery of quality products and services with emerging, state-of-the-art technology and innovation. This includes their back-end ERP system, their sales and use tax determination and filing needs, provided by Sovos Sales Tax.
“Reliable, Timely, Responsive, Inexpensive.”
– Mike Grunklee, CFO & Treasurer
Why does Goodin use Sovos?
Over four years ago, Goodin realized that their ERP infrastructure wasn’t doing everything they needed given their expanding business, the number of tax jurisdictions they were adding, and the complexity associated with keeping up with all regulatory changes in order to stay compliant.
Moreover, previous audits in Minnesota, South Dakota, and North Dakota, uncovered errors that resulted in penalties they believed could have been avoided with the right software. From under-collecting tax to manual errors related to shipto codes resulting in the wrong tax being assessed, Goodin wanted more accuracy, efficiency, and a system that would decrease audit exposure.
Goodin realized that their interface could be integrated with Sovos Sales Tax (formerly Taxware). Now, the Sovos research team takes care of all the time-consuming research and the solution automatically updates so they can charge, remit, and collect the appropriate rates per each local, county, state, and federal jurisdiction where they do business.
Additionally, Goodin says that the Sovos Sales Tax solution use of geo codes to align transactions with the precise locations of their customers, makes their tax rate calculations much more accurate, ensuring proper billing and tax collection. Before they had the Sovos solution for instance, one previous audit resulted in over $20,000 in penalties that Mike, the current CFO and Treasurer, and Brian, the former CFO and Treasurer both believe could have been avoided with the accuracy and efficiency that Sovos Sales Tax now provides Goodin.
Moreover, when someone at Goodin has a question or needs to make an adjustment to the system, Brian and Mike both state that “it’s a very clean process”; it’s easy for them to shoot a quick email over or fill out a ticket request and someone at Sovos always attends to the issue right away. “Kudos to you guys for doing this” Mike stated in terms how easy it is for them to adjust their calculation needs or resolve an issue for a customer.
Sovos calculates the taxes and files the returns in over 1,000 jurisdictions for Goodin, which Mike appreciates because he is confident the returns are accurate since errors and penalties have gone down substantially, there is an established paper trail, and all of this helps with audit defense, if that should become an issue. This frees up his time allowing him to refocus efforts on areas of the business that will drive growth such as expanding available product lines, opening additional locations, and continuing to focus on streamlining their other processes.
Goodin also no longer has to hire someone to handle these functions. They used to have one person solely devoted to sales tax determination and filing work, as well as the CFO/Treasurer being actively involved in the process. Goodin’s small accounting department has many other responsibilities and Sovos Sales Tax helps free up much needed human capital and prevent audits, which had been a costly problem for Goodin before they implemented the Sovos Sales Tax solution. Mike and Brian have achieved much needed peace of mind because they know Sovos is an end-to-end tax compliance process that meets all the organization’s needs at a great value. Mike and Brian state that the prevention of penalties/audits as well as the internal costs saved by outsourcing this calculation, compliance work, and the filing of the returns to Sovos is
Goodin also likes the personal service that Sovos provides them beyond the responsiveness of the support staff. A Sovos Account Executive meets with them a few times a year just to hear how the business is doing and to proactively help them brainstorm ways Sovos can help them grow their business and improve their processes. Through this synthesis of past experience and future expectations, Goodin Company will continue to partner with Sovos to define the processes and systems that allow them to set the standards by which their industry is judged. They feel Sovos is integral in helping them achieve this goal.