7 Considerations for Enhancing Procurement Technology Implementations

Global Procurement Tax Technology by Vertex

Every transaction tells a story, and the best ones tend to feature surprising plot twists. When it comes to a procurement group’s increasingly strategic and data-driven narrative, unforeseen indirect tax risks linked to purchasing transactions can trigger unpleasant developments that hinder procurement efficiency and impede its transformation progress.

As a result, procurement leaders and their counterparts in the tax group should keep the following points in mind:

  • Procurement’s ongoing digital transformation is crucial to organizational performance.
  • Tax determinations represent a critical, though frequently neglected and potentially high-risk, component in procure-to-pay (P2P) lifecycles.
  • Procurement’s effort to enable seamless purchases hinges on accurate, convenient tax determinations.
  • One of the leading ways to enable and sustain seamless transactions is by conducting tax determinations at the time of purchase via a procurement-tax technology integration.

Following this logic can empower tax teams to manage the organization’s tax-compliance story while procurement groups remain laser-focused on enhancing their value proposition.

A new blog, Understand ‘Friction-less’ when Integrating Tax and Procurement Technology, discusses the irony of so-called “friction-less” procurement transactions, where creating a convenient, user-friendly customer experience often requires difficult work behind the scenes.

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