Taxware Partnerships Changing the Tax Calculation & Compliance World
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AccountingWEB.com - Jul-13-2005 - The world of tax calculation, accounting and compliance in the U.S. and 170 countries changed on Tuesday, July 12, 2005, when Taxware announced partnership agreements with Avalara and Group 1 Software. The agreements will tap into emerging technologies to help businesses gain access and eliminate guesswork in global tax compliance and jurisdictions.
Taxware, a First Data Corporation (FDC) company, is a leading provider of global transaction tax calculation and compliance solutions that has historically focused on the needs of Fortune 1000 companies. Through the strategic partnership with Avalara, Taxware will now be able to serve the needs of small and mid-sized businesses (SMB) while customers of Avalara will gain access to Taxware’s advanced capabilities including Value-Added Tax (VAT) rates and taxability matrix.
“Taxware was the first to market with solutions for multi-jurisdictional, international and Internet transactions,” says First Data Government Solutions president Dave Treinen. “Today we are looking at another industry first – the ability to provide a solution for companies of all sizes, from the world’s largest global corporations to small, emerging businesses.”
Augmented by Taxware Avalara’s AvaTax ST™ solution will give small and mid-sized companies access to the same technologies used by the world’s leading corporations, simplify a wide range of tax accounting procedures and minimize the risks and costs associated with sales tax, use tax and VAT compliance. Avalara will co-deploy and become a reseller of Taxware products under the agreement.
“This partnership with Taxware,” Jared Vogt, CEO of Avalara states, “provides SMB customers with the best of both worlds: the ease of use and web-based simplicity of Avalara, and the depth and breadth of transaction tax expertise provided by Taxware.
This is a ‘win-win’ for the marketplace. It puts world-class transaction tax technology within reach of small and midsize companies.”
In addition to the new strategic alliance with Avalara, Taxware also announced a strategic alliance with Group 1 Software, a Pitney Bowes Company. The alliance will integrate GeoTAX ®, Group 1’s tax jurisdiction assignment software, into Taxware’s Taxware Enterprise and Taxsolver products. The resulting solution provides businesses with unprecedented geocoding accuracy nationwide that corrects misspellings, completes addresses and more.
“Our address matching and advanced geocoding capabilities allow GeoTAX to keep current on the more than 5,000 changes made each year to approximately 20,000 municipal boundaries nationwide,” says Chris Baker, president of Group 1 Software.
“Combined with Taxware’s technology and tax content, it’s clear that businesses will now have access to the most complete solution on the market.”
“Taxware today has the industry’s most accurate solution for making transaction tax decisions,” agrees Treinen. “Unlike competitive offerings based on street addresses or zip codes alone, we are taking advantage of address-level geocoding technology. Taxware can now provide users with granular-level detail, determining the correct municipal tax jurisdiction nationwide, in every state, country, and municipality. This is an unprecedented amount of accuracy for corporate transaction tax system.”
The new partnerships are major developments, not just for the companies involved but also for their clients, big and small.
“We are committed to making Taxware the number one provider in this market space,” Treinen says. “We plan to achieve that by not only focusing on our own core competencies, but also by entering into strategic agreements. [These] announcements are a giant step down that path.”
