Tax Outsourcing is Heating Up

According to research from Deloitte, outsourcing is on the rise: 30 percent of companies surveyed "plan to increase their use of outsourcing for finance and accounting," which often includes outsourcing sales and use tax compliance. One of the primary drivers of this trend, according to the report, is the increased business flexibility that outsourcing enables.

Similar to the outsourcing of payroll processing, more and more corporate finance departments are also outsourcing the administrative aspects of sales and use tax compliance — from returns preparation and filing to payments and managing notices — so they can focus on more strategic tax work. This seems especially beneficial (and timely) in light of recent developments in corporate tax reporting requirements.

The survey’s facts and figures appear right on the mark, from our perspective as well. The growth of our Returns Outsourcing service reflects the global increase of business process outsourcing. In June, we had a record level of new sales for the Returns Outsourcing business and have experienced double-digit growth year-over-year since the launch of the service in 2007.

But the real story isn’t in the numbers; it’s in the longer-term trend underway in corporate tax departments across the country. As the workload continues to heat up and flexibility becomes even more necessary, a reliable outsourcing provider may become the newest member of the tax team.

Explore more Resources from our Industry Influencers:

Stephanie Malin

Director, Managed Services

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Stephanie Malin is Director of Managed Services at Vertex where she is responsible for leading the development of strategic initiatives for the outsourcing business. She has been with Vertex for more than 20 years working in marketing and product management roles for both transaction tax and income tax technology products. Stephanie currently serves on the Corporate Market Strategy Team and leads the Managed Services Task Force. Her prior experience has been with financial and technology companies. Stephanie has a bachelor’s degree in finance from Drexel University and an MBA from Temple University.

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