Industry

Make Retail Compliance Less Taxing

REDUCE COMPLEXITY

Solve the tax and compliance issues specific to retail

The tax compliance landscape for retailers is among the most challenging and complex of any business sector. Factors such as electronic receipt generation, point-of-sale reporting and near limitless numbers of products sold across countless jurisdictional lines can create chaos when it comes to ensuring you are taxing and reporting sales properly. You need to properly track transactions, apply the correct tax rates for wherever your customers might be, and stay up-to-date on regulations as they unfold. All of this is critical to reducing your audit exposure and protecting your financial and reputational well-being.  

Sovos improves tax management for retailers:

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Account for and manage changing regulations

Automate the update process to ensure current rules and regulations are being applied.

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Get tax determination right

Determine the correct rates everywhere, every time, in real time.

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Reduce the risk of audits and financial penalties

Applying the most current regulatory guidelines to each transaction is your best audit defense.

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Manage exemption certificates

Maintain valid exemption certificates and greatly reduce the burden of tracking and overseeing the renewal process.

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Improve customer and partner relationships

Charging customers and partners incorrect amounts can create friction and distrust. Getting every transaction right eliminates this concern.

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Provide accurate reporting across multiple jurisdictions

Creating detailed reports on demand for any location or jurisdiction is a labor intensive activity. We make it simple, easy and efficient.