There's Another Digital Transformation and it's Revolutionizing Tax Enforcement

Converging networks and systems has made companies more efficient, but also made it easier for governments to audit them. Companies now require a 360° integration of tax with ERP and procurement systems to protect against slowdowns due to insufficient tax determination and reporting.

Read “The Future of Procurement” blog post

Tracking customer interactions in a single data repository allows businesses to offer relevant information and options any time a customer contacts them. When integrated with a robust tax platform that crosses all business systems, it can also signal taxable events, such as sales, and generate e-invoices in real time to keep you compliant.

For global businesses, there can be a disconnect between where work is performed, where it’s sold and where the taxes are paid. Maintaining compliance gets more complicated by the day, requiring a tax platform that can integrate with multiple ERP and finance systems.

Internet-enabled equipment blurs the line between product and service – especially when subscriptions are involved. Since the two types of sales are often taxed differently, modern manufacturers will require a tax platform capable of integrating with the converged network and deciphering quickly changing tax requirements.

Read the blog post on marketplace facilitator tax collection.

Now that dozens of countries have shifted to continuous enforcement, failure to comply can add significant cost, delay and reputational harm. A complete tax platform that covers determination, e-invoicing compliance and reporting is the only way to ensure ever-changing requirements don’t impact your revenue.