Recent media reports have uncovered a harsh reality that some retailers are learning the hard way. Interpreting complex rules and rates commonly results in errors, no matter how diligently the tax team researches sales tax rates and assigns them to products.
Determining accurate taxability encompasses layer upon layer of complexity. From determining and tracking jurisdictions, rates, and transaction types to surviving an audit, it’s a burdensome, increasingly costly chore that promises to get more difficult.
There are many things that financial professionals feel they need to do. Many have seen their own departments cut to the bone due to some of the worst economic conditions in decades.
Welcome to the Social Era, where smart enhancements in technology have brought business travel from spreadsheets to digital receipts. In fact, the way road warriors work has transformed due in large part to advancements in mobility—both in technology, and in the workforce.