How Sovos CertManager Helps Growing Businesses with Sales Tax

Shelby Toto
October 5, 2023

This blog was last updated on October 5, 2023

Exemption certificate management can be an extremely time-consuming and costly challenge for businesses, especially as their organization expands into new jurisdictions. How can you ensure that all customer and exemption data is correct? Is any data missing? If your team is still utilizing a manual process, are you positive that nothing was overlooked?

For growing businesses with increasing obligations, it’s essential to stay compliant throughout the exemption certificate management process. Sovos CertManager can help you get there. Here’s how:

My business is growing – what’s the problem?

Let’s say that you’re a tax manager for a company. Your business is growing and now you need to collect sales tax in jurisdictions where you’ve never had to collect in before.  If those exemptions are not handled properly, your company is at risk of a penalty during an audit.

But what are the right forms? What needs to be filled in for the form to be valid? Does your team know the rules (which can vary by jurisdiction or even the type of business your customer is in) to accurately validate every time?

How can you streamline exemption certificate management?

What if you could automate collecting? All customer data, exemption data and certificate images could be imported in minutes. Email tools can quickly eliminate any documentation gaps (e.g., missing, invalid or expired certificates). The responsibility can be shifted back on your customer to provide compliant data.

Additionally, exemptions could be validated in real time, instantly calculating the accurate tax on even the most complex transactions. Having complete visibility into which certificates are valid, missing or set to expire can help reduce your company’s audit risk. From form to signature, invest in a tool that captures the information needed for your increased audit defense.

How Sovos CertManager can help

Sovos CertManager gives you the confidence to grow into areas unresearched by your team. Powered by Sovos’ regulatory research team, your exemption certificate obligations are already accounted for, so you know what is required for every transaction.

We know that your customer experience is important to your brand. Enable CertManager’s actionable workflow and retrieve higher than average returns and have the peace of mind that your business is better prepared for an audit.

Take Action

Still have questions about how Sovos CertManager can help your growing business with sales tax? Reach out to our team to learn more.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Shelby Toto

Share this post

Hungary Supplemental Insurance Premium Tax
EMEA IPT
July 11, 2022
Extra Profit Tax: An Introduction to Supplemental IPT in Hungary

This blog was last updated on October 28, 2024 Update 7 October 2024 by Edit Buliczka Hungarian Tax Office Updates IPT Declaration Form for 2023 The procedure necessary to correct an underdeclared premium figure in Hungary can be complicated. The complexity of a correction for return form 2320 has become even more challenging. Following a […]

2025 bond project
North America Tax Information Reporting
November 4, 2024
The Insurer’s Guide to the 2025 Bond Project

This blog was last updated on November 4, 2024 The regulatory landscape for insurance companies is undergoing significant changes with the Principles-Based Bond Project which is set to take effect on January 1, 2025. These changes, driven by the National Association of Insurance Commissioners (NAIC), will impact how insurance companies classify and value bond investments, […]

E-Invoicing Compliance EMEA VAT & Fiscal Reporting
November 1, 2024
New ViDA Proposal Set for ECOFIN Approval

This blog was last updated on November 1, 2024 The Council of the European Union has released a new proposal regarding the VAT in the Digital Age (ViDA) reform. The proposal aims to modernise and streamline VAT systems across the EU, notably e-invoicing and Continuous Transaction Controls (CTC). Members States will review it on 5 […]

what is peppol
E-Invoicing Compliance North America
October 29, 2024
What it is PEPPOL?

This blog was last updated on October 29, 2024 Peppol E-invoicing explained: What it is and how it works The global adoption of electronic invoicing is accelerating. Governments worldwide are pushing to adopt e-invoicing to digitally transform their national systems and, often, to close the VAT gap. While many countries have introduced their own e-invoicing […]

remote sellers sales tax
North America Sales & Use Tax
October 28, 2024
Will Congress Act to Simplify Remote Seller Sales Tax Collection

This blog was last updated on October 29, 2024 When the United States Supreme Court ruled in 2018, that South Dakota’s law imposing sales tax collection requirements on sellers without in-state physical presence was constitutional, it did not grant states free reign. States are still responsible for ensuring that their sales tax requirements are manageable, […]

dtc shipping laws for craft spirits
North America ShipCompliant
October 23, 2024
Why It’s Time to Reform DtC Shipping Laws for Craft Spirits

This blog was last updated on October 23, 2024 While wine lovers have enjoyed the convenience of direct-to-consumer (DtC) shipping for nearly two decades, the craft spirits market is still not afforded the same access. Outdated and restrictive spirits shipping laws have kept the spirits industry from fully leveraging the benefits of DtC shipping, leaving […]