Sales tax compliance becomes more sophisticated and complex every day, so businesses need new technologies.
Bentonville, AR (PRWEB) August 01, 2014
In the past forty years, there have been only 15 patents granted for sales tax software. Now a Bentonville firm, Sales Tax DataLINK, is making history with a new patent for sales tax software with a straightforward title: “System and Method for Tax Filing, Data Processing, Data Verification and Reconciliation.”
A patent is only granted when the patented system is something truly new and different from what others are doing. “Sales tax compliance becomes more sophisticated and complex every day, so businesses need new technologies to stay ahead of these challenges,” says Noel Hamm, CEO of Sales Tax DataLINK.
“Sales Tax DataLINK is first and foremost a tax filing software company producing a suite of sales and use tax tools that engage sales tax analytics. Our software brings an unprecedented visibility and patterning to your tax data that eliminates the error gap from invoicing to tax filing.” The patent has been awarded on the basis of innovative technology that gives companies the ability to evaluate the health of their sales tax systems and to make educated corrections resulting in more accurate tax filing each month. All other sales tax software merely populates forms with no means of automatically validating the numbers. In today’s challenging business climate, the old way no longer works. “Just accepting unsubstantiated numbers on a tax return is thing of the past,” says Mr. Hamm.
States are beginning to use technology to connect internal data sources to identify issues with indirect tax compliance. States are using this technology to identify and schedule taxable audits, so businesses must take a more granular approach in their review process. Sales Tax DataLINK’s software automates the validation steps providing business intelligence, resulting in fewer errors and better tax filing. No other software can address the complexities of the new sale tax reality covered by Sales Tax DataLINK.
“Often people think the important thing is a tight integration,” Hamm points out, referring to the integration of sales tax software with enterprise business management software. “If your sales tax engine is not updating the customer records and syncing reporting, you just end up with tightly integrated mistakes at filing. To protect you, our software recalculates each line item of an invoice to capture these errors for your review. “This means that companies have the ability to evaluate the accuracy of their sales and use tax systems and make corrections as needed. Otherwise, these errors would get washed out at tax filing and recur each month.
“It is time for a more advanced solution to sales and use tax compliance, and with a new patented technology,” Hamm says, “you can expect an unprecedented level of accuracy, visibility and protection all a lower level of cost.”
More information is available at http://www.SalesTaxDataLINK.com.