In 2016, automation is everything. Quality of business process is a top driver of business value, and companies are expected to dedicate more effort to innovation; less to operations.
The calculation, filing, and reporting required for sales and use tax compliance is no exception since the average cost of managing these processes is more than $60,000 annually for small businesses and nearly $400,000 for large organizations.1
To better manage sales and use tax compliance, automation is the number one strategy employed by leading companies, who, compared with their trailing peers:
- Cut their monthly returns prep and filing work in half2
- Avoid overpayment 90% more often1
- Pass audits without penalty 50% more often1
Get more from our infographic on How Great Companies Manage Sales Tax.
1. Aberdeen Research