Sponsor: Vertex

The Great Pivot: 5 Ways Retailers Can Adapt and Grow Their Businesses

Retailers experienced an era like no other when COVID-19 spread worldwide. Shopping switched from in-store to online nearly overnight. The supply chain experienced unprecedented upheaval in product availability and pricing, and purchasing patterns reshuffled product category priorities. As a result, brands had to quickly shift their operations to serve customers and protect revenue in a time of deep uncertainty.

The pandemic upended the retail landscape, but a measured recovery has already begun that will require new approaches and greater agility than ever before. Brands with a strong reinvention approach — one that leverages the latest technology tools and seamlessly supports complex transactions and multi-layered compliance obligations — will successfully navigate the new paradigm and strengthen their market share.

In this e-book by Retail TouchPoints, sponsored by Vertex, Oracle and KPMG, learn some of the core ways retailers can pivot to meet the new pandemic realities, including transformation tips to expand revenue, enhance operations, and maintain compliance.

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5 Reasons to Automate Sales And Use Tax Compliance

Ensure Peak Performance In The New Business Environment

Monthly sales and use tax compliance can be a massive burden for your finance department. If you’re looking for ways to control costs and make smart investments, automating these processes in-house using tax compliance technology — or outsourcing them — can deliver measurable business benefits like:

  • Reducing audit risk
  • Boosting staff value and ROI
  • Cutting costs
  • Improving governance and controls
  • Enhancing scalability

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The Future of Tax is in The Cloud

The cloud computing market is booming, with Gartner projecting the industry to exceed $331 billion by 2022.1 That’s no surprise considering the benefits include cutting cost s, improving data quality, increasing security, and ensuring reliability.

Check out these stats, based on a survey of IT professionals, to learn why your organization should upgrade its tax applications or migrate them to the cloud.

Companies that migrate their tax applications to the cloud accelerate digital transformation and experience many benefits:

  • Improved data management
  • Increased process automation
  • Faster access to new functionality/li>
  • Enhanced security
  • Decreased costs
  • Easier implementation

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Migrating Your Tax Processes to the Cloud

How Digital Transformation Simplifies the Complex Sales Tax Function

Rapidly evolving technologies and the rise of ecommerce were already changing the face and form of commerce. Now, world events, particularly the coronavirus pandemic of 2020, are causing major upheaval in the economy, forcing companies to re-evaluate their business processes. Across industries and sectors—from retail to industrial, B2B and B2C—efforts toward leveraging automation and data exchange are accelerating with digital transformation initiatives that integrate digital technology into all areas of a business.

For the mid-size and large organization, the mandate to automate is crucial for doing business in order to keep pace with competitors, enterprise and technological innovation and global growth.

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State of the Market for Enterprise Cloud Deployment for SAP Users

This special report compiles all the research found when SAPinsider surveyed 116 members of their community. The purpose of the survey was to determine what is critical to their cloud deployment, which cloud providers and deployment models they are using, and what workloads they are running in the cloud. In this special report, learn what drives organizations in their approach to enterprise cloud deployment, discover the top requirements and tools for cloud deployment strategies, and gain your strategy guidance for optimizing cloud deployment processes.

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Vertex Indirect Tax Solutions in the Oracle Cloud

Vertex Indirect Tax O Series, powered by Oracle Cloud Infrastructure, is a strategic collaboration that enables companies who are running their Oracle applications on OCI, to leverage Vertex Indirect Tax O Series, a best-in-class enterprise indirect tax solution, on the same platform.

During this webcast, learn how our joint customers can build, deploy, integrate, and extend Vertex tax solutions in the Oracle Cloud. We will also discuss how we ensure that rigorous security and performance standards are and continue to be met.

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Transformation Demands a New Approach to ERP with Oracle Fusion Cloud ERP

When selecting an enterprise resource planning (ERP) system, executives often overlook the power it holds today and the importance of tax compliance. Some organizations still believe that the operational systems that have supported their companies in the past, will help to do business in a new way as they grow. However, ERP can be a significant impediment to modernization if the processes encoded in the software are inflexible or bind the company to outmoded ways of doing business.

In this white paper, learn about factors which IT leaders should consider when planning for an ERP transformation along with business transformation, the significance of choosing a tax-aware ERP and how the right ERP solution can accelerate the pace and benefits of transformation.

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Case Study: Reducing Audit Risk with Vertex and Oracle Fusion Cloud ERP

In this new normal, many companies are evolving their business models to keep up with the ever-changing times. In this webcast, Vertex and Deloitte thought leaders discuss how they helped transform Arcadis’ Accounts Payable and Purchasing processes by implementing Vertex tax automation for Oracle Fusion Cloud ERP. Hear from Arcadis, a leading global design & consultancy firm, as they share their challenges and how with the help of tax automation, were able to eliminate tedious, time-consuming, and repetitive processes that allowed their staff to focus on higher-value work.

Viewers will learn how an automated tax solution can give their organization scalability and flexibility while helping improve the accuracy of sales, use, and value added tax calculations on transactions, ultimately reducing audit risk.

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Accelerate Tax Automation Integration for Oracle Fusion Cloud ERP

The world of indirect tax never stands still. With constantly changing tax rates and rules, tax automation technology can help companies keep up to date and stay compliant. Understanding the need to streamline the tax engine integration process and ongoing updates to tax content, we developed the Vertex® Indirect Tax Accelerator for Oracle Fusion Cloud ERP. Our tax integration solution leverages an intuitive user experience design and is available for on-premise, on-demand, and Oracle Fusion Cloud ERP.

In this webcast, hear insights on this exciting new release and learn how companies can:

  • Realize the full potential of the Vertex® Indirect Tax Accelerator for Oracle Fusion Cloud ERP
  • Benefit from the basic setups and advanced activities like rules-based parameter mapping
  • Utilize the import master data setup from Oracle Fusion Cloud ERP to accelerate implementation time and reduce data entry risks
  • Understand how our simplified and comprehensive tax integration solution will allow intuitive monitoring of various transaction flows

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Vertex & Oracle Retail Solutions for Today’s Marketplace

The retail sector has been hit hard by an abrupt change in business. Those organizations that were able to pivot to an online sales model have greatly improved their chances at survival and even growth. With these changes, tax becomes an important piece in your new business strategy.

In this on-demand webcast, we’ll explore evolving consumer behaviors, legislative changes, and the emerging business landscape within the retail industry. We’ll cover how these shifts affect indirect tax and the importance of cloud-based solutions for tax collection, reconciliation, and reporting. To put it all together, we’ll share use cases and best tax practices for retailers that can help industries across the board as they adapt to this new reality.

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Learn why you should be outsourcing tax compliance

Common Misconceptions About Outsourcing Sales Tax Compliance

As we talk to tax executives across the U.S. about sales and use tax returns outsourcing, we’ve found there are a number of misconceptions that prevent companies from considering this option. Understanding the truth about the issues and the marketplace offerings will prove that outsourcing compliance can be a valuable alternative for a tax department, allowing you to re-focus valuable resources within your business while remaining budget conscious.

With the right provider, outsourcing returns can produce substantial benefits to your tax function—hiring an expert services provider enables you to hand off the administrative tasks of returns preparation, filing and treasury management, while staying firmly in control of compliance.

Download our white paper to learn about some of the misconceptions surrounding outsourcing returns and discover why outsourcing returns can be a valuable alternative for a tax department.

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Reduce cost and increase efficiency by outsourcing the sales and use tax returns process

Returns Outsourcing: What's It All About?

With changing market conditions, companies are looking to adapt quickly and efficiently. These plans can include re-visiting business plans, reducing costs, refocusing staff, implementing new work processes, and much more. By choosing to outsource with us, businesses can regain critical resources which are typically drained by returns preparation, re-focus their tax staff on more value-added work, reduce time spent on the administrative aspects of compliance, and more.

We provide scalable returns services by producing signature-ready PDF returns or you can outsource the entire returns function. Send us your company's tax data and we can handle the returns preparation and filing, communicating with tax authorities in all jurisdictions, managing funds and payments, credit handling, and resolving notices.

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