Surely, human beings are known for a myriad of different things, but most importantly, they are known for getting better on a consistent basis. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the stated group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide presence, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.
Avalara, a leading provider of tax compliance automation software for businesses of all sizes, has officially expanded it collaboration with Oracle to create a fast, easy, accurate, and automated tax compliance experience in Oracle Fusion Cloud Enterprise Resource Planning (ERP). According to certain reports, the stated partnership will keep at the heart of everything an objective to eliminate manual indirect tax setup, configuration, calculations, and complexities from every transaction. But how will the whole value proposition look on a more granular level? Well, we begin with the prospect of integrated compliance services. Here, users will be able to integrate primary parts of the Avalara offering within just a few hours, therefore cutting back on implementation time by weeks. Complimenting the said aspect is a fully automated tax compliance management system, which leverages up-to-date tax content for more than 900,000 tax rules across more than 30,000 tax jurisdictions so to maximize accuracy of tax calculations. Interestingly, there is an intuitive dashboard in play for the purpose of simple and efficient tax return preparation and filing. Hold on, this isn’t all what the collaboration will have on compliance, as it will also bring to the fore other compliance solutions, including exemption certificate management, business licensing, cross-border compliance, e-invoicing, and more. Such capabilities, on their part, should help companies to scale their automation infrastructure and effectively address new and expanded compliance obligations. Moving on, the Oracle Cloud ERP integration will also, from here onwards, provide customers with a hassle-free access to Avalara’s artificial intelligence-powered compliance solutions. Once they have these solutions at their disposal, users can expect to automatically detect and extract data from exemption certificates, automate mappings of Harmonized System (HS) and tax codes, while simultaneously enhancing several other facets that happen to be in the mix.
The first time Avalara and Oracle collaborated was back in 2013, and then too, they did it for alleviating the burden of tax compliance and supporting businesses through complete automation of mandatory regulatory requirements. Now, rejuvenated by smarter technologies, their joint pursuit should look to aim higher than ever before.
“Avalara aspires to be part of every transaction in the world with our global compliance platform. We’re getting there more rapidly thanks to collaborators like Oracle who are integrating our solutions to simplify the most complex processes of every sale or purchase transaction — calculating taxes and filing the returns,” said Jayme Fishman, EVP and GM of Indirect Tax at Avalara,
Founded in 2004, Avalara’s rise to prominence has been orchestrated on the back of its ability to make tax compliance faster, easier, more accurate, and more reliable. Banking upon over 1,200 signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access, the company has, so far, served more than 30,000 business and government customers in over 90 countries.
As for Oracle, it will support this partnership through its Oracle PartnerNetwork (OPN). In case you didn’t know, the OPN program is designed to enable businesses in regards to accelerating their customers’ transition to cloud and drive superior outcomes on a global basis. Having the means to apply Oracle’s deep technological expertise, the stated program should set the stage for your company to foster better relationships and extend into new markets.
“Working closely with Avalara will enable us to remove unnecessary friction and inefficiencies in tax compliance by automating tax processes for our joint customers,” said Rondy Ng, EVP of Applications Development at Oracle. “With Oracle Cloud ERP, organizations can embrace automation and continuous innovation to increase productivity, reduce costs, and improve controls.”
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