Why Add a Tax Engine for Procurement
Integrate a tax engine to improve tax accuracy and streamline procurement processes.
Managing the taxes paid and accrued in the procure-to-pay process requires significant collaboration between the Tax and Purchasing departments, with multiple chances for manual errors. Challenges these department face range from continuous tax content updates, insufficient native tax functionality, tax coding errors, and the increased volume of audits.
Integrate a tax engine with your ERP or procurement system to improve the accuracy of sales, use, and value added tax determination in the procure-to-pay process. With a tax engine in place, you’ll streamline processes for POs, invoice management, and accruals.
Experience reduced in-house research, reduced IT support needed, improved tax accuracy, consistent tax coding, all while supporting centralisation and scalability within your business. Watch the video to learn how a Vertex tax engine automates the process to reduce audit risk.
Explore our leading tax solutions for automating sales and use tax.
The CPO’s NEW Priorities and How Tax Automation Supports Them
Ardent Partners’ 15th annual state of procurement study found that the chief procurement officer’s top priorities in 2020 have shifted dramatically.READ BLOG