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John Cowan
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Here are some tips to keep in mind when considering the right tax technology solution for your brand:
- To calculate the most accurate tax, capture customers’ addresses, including a 9-digit ZIP code. The extra four digits in the ZIP code helps determine whether the “ship to” location crosses a district boundary or lies in an unincorporated zone in a city.
- To collect the right tax amount during holidays, understand each state’s rules relative to applying the holiday on an order date vs. a fulfillment date.
- To ensure calculations are accurate and comply with both state and local tax rate charts, select a system that tracks and applies the appropriate methods.
- To meet the increased demand an e-commerce site brings to returns filing, payments, reconciliation and audit support, choose a tax technology solution that automates your entire compliance cycle.
- Choose a tax technology solution that supports your internal operations, including web service application servers, hardware, database and scalability strategies so that you leverage technical expertise and skills already present in your organization.
- Find a tax technology provider that's comfortable in providing technical solutions to support the reliability and redundancy needs of a retail operation in a cost-effective manner.
- Be certain your provider's solution can scale to meet peak demand volumes for tax calculation and reporting and remittance needs.
- Look for a tax provider that can supply technical expertise in the form of a highly skilled consulting network in the deployment of their solution inside a retail infrastructure.
Don’t hesitate to consider transaction tax software as a core part of your retail operational efficiency plan from both a business and technology perspective. In many cases, peer companies and your business network can help offer feedback on the various solutions available in assisting you to make enterprise tax automation an effective solution for your company.
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