Avalara, Inc., a leading provider of tax compliance automation software for businesses of all sizes, has officially announced an expanded version of its AvaTax for Accounts Payable solution.
According to certain reports, the stated expansion brings to the fore a solution which is capable of automating tax calculation and compliance for purchases. You see, by identifying both over and underpaid taxes on purchases, it offers a more efficient route for achieving precise tax calculation.
Talk about the newly-introduced enhancements on a slightly deeper level, they include a consolidated global tax compliance in the cloud. Put it simply, this translates to how users can come expecting sales and purchase compliance functionality across a far-reaching spectrum of areas and geographies, all of it available to them in one unified platform. The stated feature also complements Avalara’s larger goal of helping its customers remain compliant, while simultaneously empowering them to transact with anyone, anytime, and anywhere.
“As an end-to-end compliance platform, AvaTax offers businesses a singular solution for managing both sales and purchases, consolidating their tax compliance efforts into one efficient system,” said Jayme Fishman, Chief Strategy and Product Officer at Avalara. “Using our cloud-native approach to software development, AvaTax for Accounts Payable not only simplifies the compliance process, but also provides greater visibility and control over tax obligations, helping Avalara customers stay compliant with ease.”
The next enhancement in line here happens to be a robust and flexible functionality for complex use cases. The use case driving such functionality is to help customers in the context of allocating tax automatically using customized and advanced transaction rules. This they can to simplify decision-making by a significant margin. Anyway, markedly enough, calculation on purchases leverages the same powerful content which Avalara is now known for.
Then, there would be the integration with business applications; meaning AvaTax for Accounts Payable seamlessly integrates with popular purchasing systems through pre-built integrations and API capabilities. Not just that, it also comes decked up with an ability to support batch uploads of purchase transactions, thus ensuring a smooth and efficient workflow across multiple purchasing systems. Another detail we ought to mention here is rooted in the fact that both batch and real-time transactions are made accessible and actionable, thanks to the solution’s consolidated dashboard.
The upgrade in question delivers a rather interesting follow-up to one survey conducted by Avalara, a survey where it was discovered that a growing number of businesses are turning towards automation to manage tax on purchases. As for why that has been the case lately, the answer is provided by those 53% of respondents who cited complex and ever-changing tax rules and rates as among their most significant challenges. Alongside the given contingent, an estimated half (52%) of respondents  indicated that solutions designed to seamlessly automate complex tax scenarios across their business systems would also improve their compliance footprint.
More on the survey would reveal how it was conducted by Censuswide and recruited over 502 director or managers in tax /finance, procurement, tax technology, and Accounts Payable/Receivable departments across the US. The criteria for entering the fray mandated the participant to have managed consumer use tax obligations between February 7 and February 14, 2024.
Founded in 2004, Avalara’s rise up the ranks stems from expediting tax compliance, and at the same time, enabling it to become more accurate, reliable, and valuable. At present, tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. The company’s excellence in what it does, though, can be understood once you consider it currently serves more than 41,000+ business and government customers in over 75 countries.
