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Sales Tax Automation Mistakes

TaxConnex

Whether you manage it all internally, work with a CPA, or use an outsourced provider or technology, you know that there are many moving parts. Automating part or all of the sales tax process is sometimes necessary to maintain compliance. However, in my experience, sales tax automation can be counterproductive in certain situations.

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Why Sales Tax Technology Only Solutions Are Not Enough

TaxConnex

These sales tax technology solutions appear to automate the full sales tax process; however, what is not apparent is that the software options are similar to a do-it-yourself (DIY) project. This would include: Implementation of the technology. Maintenance of the business assumptions and rules applied by the technology.

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Tech news: FloQast automates with AI

Accounting Today

Plus, Settle offers three-way matching for purchase orders; Modern Treasury introduces Professional Services offering; and other accounting tech news.

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Understanding Your Sales Tax Obligations as a Technology or Software Company - A Checklist

TaxConnex

Since software, and especially Software-as-a-Service, may not be delivered in a tangible form, many technology and software companies have considered themselves exempt from sales and use tax. In fact, many states impose sales and use tax on services provided by the technology industry. But this is not always the case.

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No, Robots Are Not Taking Over Your Job: A Discussion on Balancing People and Tech in Automation

Speaker: Michael Ly, CEO of Reconciled, and Chris Elmore, UNCC Professor and Chief Evangelist of AvidXchange

The common fear about automation today is the belief it will displace millions of jobs. While it could make certain functions obsolete, a more optimistic view is that automation enables people to re-center their workday on more essential, purposeful functions. But technology is only as good as the people it serves.

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Automation’s place in compliance

TaxConnex

Since the first adding machine showed up on counters to help shopkeepers tack on the correct sales tax, automation has been part of compliance. But does the new automation always keep up? New tech AI is no doubt the new tech player on the block for all forms of automation, and sales tax calculation is no exception.

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Sales Tax Horror Stories: Automation

TaxConnex

As with most such obligations, you probably ask, “Can automation help me?” But automation of sales tax can be a nightmare if done wrong – and in many situations you might not realize anything scary is going on until it’s too late. Automation is most valuable in this step. Be careful to deploy the right automation.

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Breaking New Ground: Managing Innovation Fatigue With Effective Automation

Speaker: Gary Dmitriev

Our upcoming webinar aims to demystify the process of selecting and implementing automation tools for financial institutes. This session will provide your roadmap for vetting potential solutions, focusing on due diligence, vendor assessments, and aligning technology with strategic goals.

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Why HR Technology Matters Now More Than Ever

When a crisis hits, HR technology gives business leaders the data, tools, and support to make important business decisions quickly. In this report, Josh Bersin outlines why HR tech is more important than ever and how it can help small and medium businesses throughout times of crisis.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”.

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2021's Hot Tech Tools and Services for Financial Professionals

Speaker: Stephen M. Yoss, CPA, Partner at Devmatics, LLC

Technology is the closest thing we have to magic. We can time travel by having technology improve organizational effectiveness and efficiency. We can teleport across the country by leveraging cloud technology to connect us together. It will give the attendee a good understanding of the best technology currently available.

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Predicting What’s Next for Firms & Collaboration Tech

It's no secret that technology has fundamentally changed the way we communicate—both in our personal lives and at work. Read this whitepaper to understand the evolution of collaboration in audit and tax engagements, its impact on firms, and predict where technology will take collaboration next. Download the whitepaper today!

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Putting the ‘Tech’ in Spend Management Techniques

Speaker: Wayne Spivak, President and CFO of SBA * Consulting Ltd., Industry Writer, Public Speaker

With the advancement of technology, the implementation of spend management best practices and concrete GAP analyses is more streamlined and accessible than ever before. If you’re lost in the world of spend management needs and your GAP analysis is lacking perspective on the future state of your business performance, listen up!

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Digital Transformation in Accounting: Why It’s Essential for Modern Firms

As technology reshapes business, firms must adapt or risk obsolescence. Competitive Edge: Attract tech-savvy clients and offer innovative services with digital tools. Train your team to leverage new technologies. Discover how Fincent can streamline your transition. The accounting industry faces a digital revolution.

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Crafting Your Accounting Innovation Strategy

Speaker: Donny C. Shimamoto, CPA.CITP, CGMA

Attend this non-technical, but technology-focused session to actually work through creating an innovation strategy and developing a plan for modernizing the way you provide accounting services with the latest accounting technologies.