Subscription Management Software Can Make Financials Less Taxing
Get ahead of next Tax Season with Transverse’s TRACT Billing software
Austin, TX (PRUnderground) April 17th, 2013
Taxation is a delicate balance. If a business erroneously overcharges sales tax to a group of customers, they can face a class action suit. Conversely, undercharging taxes could incur penalties and interest if flagged in an audit. Businesses are challenged to ensure accurate sales tax charges for the correct products and services, including tracking rates in each country, state, and local taxing jurisdiction — of which there are more than 11,000 today in the U.S. alone! Businesses selling in multiple states can face exposure of hundreds of thousands of dollars.
Thanks to our partnership with tax experts Avalara, Transverse’s TRACT billing and subscription management platform offers integrated sales tax management. Here are a few examples of how your company can benefit from an all-in-one billing and subscription management system with integrated sales tax calculations:
• Automate the entire billing process — goodbye spreadsheets!
• When an order for goods or services is made, correctly calculate sales tax for specific products based on geo location or jurisdiction, including complex tax rules,
• Remain compliant with increasingly complicated tax regulations,
• Real-time access to the most current rates and taxability rules, and
• Complete tax remittance process support using AvaTax.
The average mid-size business is spending upwards of $50,000 per year just to manage sales tax. When transactions cross borders, things get even more complicated and auditing risks get more serious. Automating the process saves time, money and effort and reduces risk to your business. Whether your business is required to collect sales tax, value added tax (VAT) or both, making manual calculations can be complex and costly. Companies that require use tax or sales tax support can integrate the function with TRACT Billing, freeing up company resources that would otherwise spend hours updating manual billing spreadsheets and tax tables.
Transverse was founded in 2008 by billing experts who saw an opportunity to make sophisticated billing capabilities available to more businesses. TRACT Billing from Transverse is the only all-in-one activity-based billing platform that can meter, rate, and bill based on customer behavior. Unlike basic subscription or expensive legacy billing systems, TRACT provides a simple solution to complex billing challenges while empowering companies to engage with customers and rapidly monetize the launch of new products and services. Learn how TRACT can help your business at http://www.gotransverse.com.