Retail Picture Illustrates Growing Need for Tax Automation

Retail companies of all sizes confront serious challenges for “more” of just about everything these days.

Specifically, retailers face challenges related to selling through more channels; conducting business in more countries; adjusting to more merger & acquisition (M&A) activity; adhering to more rules and regulations; and tracking down more tax data that resides in more and more information systems.

Combined, these issues create a heck of a lot more complexity, nearly all of which finds its way into tax functions. Fortunately, there is a practical solution: more tax automation. Tax automation helps tax departments increase accuracy, streamline complex processes, and stay compliant.

A new infographic puts pictures (and some eye-opening stats) to the five major challenges retailers face; it also identifies six sets of questions retail tax professionals should ask when evaluating a tax automation solution that will lessen the amount of complexity they deal with.

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.

About this Contributor

Tricia Schafer-Petrecz Headshot
Tricia Schafer-Petrecz
Public Relations and Social Media Lead

Tricia Schafer-Petrecz manages Vertex's public relations and social media functions. In her role as reporter for the Tax Matters blog, she coordinates and writes  pieces on industry trends, legislation and technology in the tax industry.  Tricia has over 20 years of experience managing public relations, corporate communications and generating thought leadership for the financial services and technology industries. Prior to joining Vertex, she was the Director of Public Relations for Fidelity National Information Services (FIS Global), a Fortune 500 company. Tricia has a B.A. in English, a B.A. in Communications, and a Master's degree in Communications from La Salle University in Philadelphia, PA.  She is also a member of the Public Relations Society of America (PRSA).

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