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Moving tax to the cloud:A financial perspective

There are many benefits to cloud-hosted (SaaS) technology. Volumes have been written extolling the sweeping impact of cloud technology on the corporate enterprise — from agility to scalability to speed. But what is the effect on the bottom line? How does cloud-hosted indirect tax technology impact the budget? Does it only impact the IT department’s budget, or are the tax and finance departments’ budget also affected? Let’s break it down.

Read this article to learn how adopting a cloud-hosted tax engine can help reduce the total cost of ownership of your tax technology:

  • TCO is one of the most important evaluation factors when considering a move to a cloud-based technology. TCO uncovers a wider and longer view over time looking at the full cost — external and internal factors — not merely external fee comparison.
  • The central aspect of analyzing any Total Cost of Ownership (TCO) cloud platform lies in its scalability. The crucial question is whether the system can readily adapt to accommodate business growth. Conventional approaches like native ERP tax functions or on-premise tax calculation engines may face challenges due to inflexible technology, hampering their ability to swiftly pivot or handle increasing volume, throughput, or business expansion. In contrast, a cloud-based solution not only offers but demands flexibility.
  • An intelligently designed tax cloud platform ensures growth (scalability) through its global accessibility, reliability, technical scaling, high throughput, multi-endpoint threading, ERP extensibility, and prioritized security with round-the-clock support. This means businesses experiencing growth in volume or venturing into new regions, product lines, selling channels, or engaging in M&A activities can count on global accessibility, with the assurance that the tax function can seamlessly adjust to the new growth in tandem with the business without encountering technical limitations.

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