Sales and Use Tax Process Benchmarks and Best Practices Webinar Recap

Sales and Use Tax Webinar for Manufacturers – Recap from May 16

Thank you again for joining us on May 16 for our latest Tax Tuesday Webinar, Sales and Use Tax Process Benchmarks and Best Practices for Manufacturers. During this webinar, Mark Christenson and I shared results of a recent Aberdeen Benchmark Study that contained responses from Tax, IT and Finance managers and leaders from over 100 manufacturers of various sizes about:

  • Their most pressing challenges and risks
  • Strategies and drivers for change
  • How Leaders achieve superior results

This educational event was recorded and you can now view it on-demand.

Below are some responses to our live webinar polls asked during the event.

Webinar Attendee Poll Question 1 Results:

Aberdeen audit frequency

Comparison to Aberdeen Report:

Aberdeen

Webinar Attendee Poll Question 2 Results:

Aberdeen

Comparison to Aberdeen Report:

When asked to indicate their top two strategies, the Leaders (the Top 35% of respondents based on performance) begin to outline their recipe for success in the following ways:

Aberdeen

Webinar Attendee Poll Question 3 Results:

Aberdeen Report

The following table from the Aberdeen study shows how survey takers identify their performance across a wide variety of metrics. Today, on average, manufacturers are spending a significant amount of time on audits, producing a large amount of returns that are inaccurate or late, and paying substantial fines.

Aberdeen

If you missed this live event, the onDemand recording and slides are available to review at your leisure. You will learn:

  • How your performance stacks up against your manufacturing peers
  • The biggest risks and tax compliance challenges for manufacturers of all sizes
  • How functional leaders feel about the compliance process vs. those managing the process
  • What is driving process improvement and what capabilities and approaches leaders are taking
  • How you can successfully drive change in your organization

For other useful webinar and video resources, visit our Resource Center.

Take Action

Watch the on-demand webinar as we detail how to take a fresh look at your business’ performance compared to other manufacturing industry peers. You’ll also learn about the capabilities and approaches leaders in compliance are implementing today.

The post Sales and Use Tax Process Benchmarks and Best Practices Webinar Recap appeared first on Sovos Compliance.

About the Author

Charles Maniace

Charles Maniace is the Director of Regulatory Analysis at Sovos. An attorney by trade, Chuck leads a team of attorneys and tax professionals responsible for all the tax and regulatory content that keeps Sovos clients continually complaint. Over his 15 year career in tax and regulatory automation, he has given talks and presentations on a variety of topics including The Taxation of High Tech Transactions, The Taxation of Remote Commerce, The Regulatory Implications of Brexit, The Rise of E-Audits, Form 1042-S Best Practices and Penalty Abatement Practices for Information Returns. Chuck is a member of the Massachusetts Bar and holds a BS in Business Economics from Bentley College, a JD from Boston University School of Law, and an LL.M in Taxation from Boston University School of Law.

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