As retailers accelerate their digital transformations, retail operations are becoming more complex thanks to new omnichannel models, innovative services offerings and physical stores that also function as showrooms, service centers and fulfillment hubs. Managing these intricate networks requires a retail tax solution that is flexible, lightning-quick and, above all, highly accurate.
In light of this change, many retail tax teams want to create a new game plan. The National Retail Federation’s (NRF’s) annual event – NRF 2024: Retail’s Big Show – is an excellent place to learn about innovative strategies, processes and technologies that can seed these next-generation playbooks.
Considering the quickening rate of change occurring in the retail industry, retail tax groups will need to utilize automation solutions to keep pace. That’s one of the reasons why Vertex is a sponsor of NRF 2024, which takes place in New York, Jan. 14-16. This year’s gathering will feature an estimated 40,000 attendees, 6,200 brands, 1,000 exhibitors, 450 speakers and 170 sessions. Those sessions will examine a half-dozen or so over-arching themes, including adding value, delivering meaningful products and experiences, making operational improvements, developing new business models, managing talent and building purpose. Activities and improvements within most of those areas have potentially significant tax planning and compliance implications.
Particularly relevant to retail tax teams, my speaking session alongside other industry experts will cover the complex navigation of compliant commerce. The discussion will share practical strategies to remove growth barriers, streamline operations and provide a unified commerce experience for customers.
We encourage attendees to register for Vertex sessions and stop by Booth #4232 for a quick “hello” and a chance to enter our raffle giveaway. In the coming weeks, I plan to reflect on the lessons learned at NRF to deliver insightful and needed retail tax content.
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. THE VIEWS AND OPINIONS EXPRESSED IN TAX MATTERS ARE THOSE OF THE AUTHORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY, POSITION, OR OPINION OF VERTEX INC.