Tax collecting and reporting has always been complex, and with new legislation comes new layers of complication. This is only going to accelerate as businesses and the government alike try to keep up with technological advancements. Tax departments are leaning on IT more than ever to make recommendations and help to implement tax automation solutions.
In this episode of Tax Technology Today, Chris Livingston, Cloud Business Leader with Vertex Inc., explains how the landmark court decision in South Dakota v. Wayfair is affecting how IT and Tax departments work together, and what preparations for business post-Wayfair need to be considered. “Companies may need to invest in new technologies and new processes. Businesses really need to be prepared.”
The good news is that in this new world, there’s even more impetus to tear down silos between departments. “IT needs to know a little bit about tax,” says Livingston, “and tax needs to know a lot about IT so that they can do their jobs and everything can flow smoothly.”
Tune in to discover the three critical questions you need to ask potential vendors, and what constitute some of the best practices for evaluating tax software vendors. Spolier alert: Security should play a huge role in evaluating and selecting a partner for this critical business function. And Livingston points out that you’ll need to be sure your change management game is on point as well.