“The retailers that will move ahead of the pack in the coming year are those that can deliver a consistent, clear, clean, simplified, and seamless message across all channels.”
That assertion appeared in Deloitte LLP’s “Retail Industry Outlook” last year, and it remains highly relevant today. As retailers work to reach a genuinely omni-channel mode, they’re discovering that cloud technology – and, more specifically, a cloud-based Software-as-a-Service (SaaS) tax solution – can help them achieve the consistency, clarity and simplicity they desire.
A new Vertex white paper takes a closer look how SaaS tax solutions can help tax and information technology (IT) professionals within retail companies address industry challenges while helping to boost business agility. The paper also examines cloud-based tax technology benefits and how tax and IT functions can work together to conduct an informed evaluation of SaaS tax solutions.
Retailers face a formidable array of challenges: intensifying competition, increasing globalisation, growing regulatory requirements, greater tax complexity, and rapidly changing consumer behaviours and expectations.
One of the primary allures of SaaS tax technology is that it provides faster access to features and functionality, freeing up time, budget and mindshare in tax functions. This enables tax professionals to devote more of their precious resources toward delivering genuine business value to retail companies striving to move ahead of the competitive pack. SaaS solutions provide cost-effective, low maintenance alternatives to on-premise versions and are poised to become one of the biggest advantages for the retail tax technology industry.
Please remember that the Tax Matters provides information for educational purposes, not specific tax or legal advice. Always consult a qualified tax or legal advisor before taking any action based on this information.