Global tax compliance gets easier for NetSuite customers with Avalara partnership

There couldn’t be a better time to highlight Avalara’s global tax compliance capabilities than right before SuiteWorld 2024. We’re excited to attend this year’s event, and even more excited to share the news that our long-standing partnership with NetSuite is helping businesses tackle global compliance with greater ease as new advancements in our technology emerge.

Avalara has been helping businesses manage VAT compliance, e-invoicing requirements, and cross-border transactions for years, but with the launch of a new extractor, the whole compliance process will be even more streamlined than before.

For those not familiar with extractors, this feature refers to a tool or a function within a software that pulls specific data from a larger set of information into its own system for processing. For NetSuite customers, our soon-to-be-released extractor will enable NetSuite users to synchronize its own sales transaction data into Avalara VAT Reporting without the use of manual uploads or various spreadsheets.

Avalara’s new extractor will help simplify the process of preparing, filing, and remitting VAT returns through a centralized platform to streamline report generation and timely filing to jurisdictions. There are several benefits the solution will provide NetSuite customers.

Improved accuracy in filings: Reduce the chances of human error, ensuring that your reports are more accurate and compliant.

Reduced compliance risks: Avalara will help lower the risk of noncompliance, helping businesses avoid costly penalties and audits.

Centralized management: Businesses gain visibility into all VAT returns globally through a single platform, enabling centralized oversight and control over compliance activities.

Simplified cross-country reporting: The solution will provide greater consistency across jurisdictions while seamlessly switching between different country returns within a single platform, minimizing manual workload.

Ability to scale easily to new countries: Businesses can more easily expand VAT reporting to new countries, eliminating disruption to existing processes.

With the increasing adoption of e-invoicing and real-time tax reporting globally, Avalara provides NetSuite customers a comprehensive e-invoicing solution called NetSuite E-invoicing, which helps them comply with the many new regulations emerging throughout the world. The solution automates the generation, submission, and storage of electronic invoices in accordance with the specific requirements of over 60 countries, which can reduce the risk of noncompliance and potential fines associated with incorrect or late submissions​​.

For NetSuite customers engaged in international trade, Avalara offers cross-border solutions that assist with VAT compliance on imports and exports. Our tools help determine the correct duties and taxes upfront, ensure proper classification of goods, and navigate trade restrictions, thereby streamlining the compliance process across borders​.

Come talk to us in person and ask us about NetSuite E-invoicing at SuiteWorld 2024. You’ll find us in booth #613. If you’re not attending this year’s event, you can learn more about how we integrate with NetSuite and what we do for NetSuite customers here.