e2b Enterprise Blog

Using Technology to Reduce Audit Risk

Tax Compliance Automation for Your ERP

Tax compliance. It is one of those tasks that can drive your accounting department or bookkeeper crazy. It’s also an unavoidable, statutory requirement.
With more than 12,000 taxing jurisdictions in the US with constantly changing rules, handing sales tax in-house can take up a significant amount of your staff's time and money. In fact, the average small to mid-size company spends $67,000 a year in employee costs to manage sales tax. For larger companies, this is closer to $400,000. Plus, it's a high risk activity. It's very easy to make an error or overlook a tax obligation, which could end up costing you a substantial amount if the state finds you out of compliance.
By automating tax compliance, you can eliminate the tedious work and complexity that goes into manually calculating and reporting sales tax for benefits including:
Sales Tax Software
  • Improve transactional tax accuracy
  • Reduce error and audit risk
  • Increase data security
  • Improve efficiency
  • Decrease costs
  • Much more

Exemption Certificate Management

Proving you don’t need to collect sales tax is as critical to compliance as collecting it. But most companies go about it in the wrong way. Inaccurate or incomplete documentation, poor processes for managing exemptions, and inefficient exemption certificate storage are three of the biggest mistakes made with tax-exempt sales.
Sales Tax Audit Preparation

Sales Tax Automation for Manufacturing and Distribution

Manufacturing and distribution tax obligations are among the most varied and complex. And the more relationships you have with suppliers, resellers, drop shippers and customers, the more complicated compliance gets. It can be easy to overlook a nexus obligation or product exemption. Make a mistake and you subject your business - and every other link in the supply chain - to audit risk.

Taxability Triggers for Manufacturing and Distribution

Sales Tax Obligations Chart

How It Works

Helpful Resources

Did You Know?

A recent Aberdeen Group study found that one employee spends upward of 25 hours per month managing transactional tax tasks, and the related average yearly cost is over $63,000. Read the full report to learn more.

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