Procure to Pay Process – ASUG Survey Finds Sales and Use Tax Obligation Blindspot – INFOGRAPHIC

May 2, 2018 Alex Forbes

 

Americas’ SAP Users’ Group (ASUG) survey of finance, tax, procurement and IT professionals reveals a continued proper sales and use tax obligations blindspot in the procure-to-pay process.

 

Large geographically dispersed manufacturers, wholesalers and financial services organizations have varied and complicated purchasing processes and channels. As these organizations grow and purchase from an ever-growing stable of suppliers for their business needs, they will encounter a number of sales and use tax compliance challenges.

 

The following infographic highlights some of these key challenges and how your peers are managing vendor overcharges and undercharges on invoices that contribute to significant audit risk within their organizations.

Procure-to-Pay Sales Tax Audit Risk Infographic - Sovos ASUG

Click for Full Size Infographic

 

Take Action

 

Download the ASUG white paper, “Risky Business, How to Beat the Inefficiencies of Tax Compliance on Purchases,” to learn:

  • The clear and present risks associated with an increase in audit frequency and scrutiny on sales tax, and in particular, use tax, on purchases.
  • Current processes and technology your peers are using across the procure-to-pay process for tax compliance with varying results.
  • The necessary steps to reduce risks and burdens of tax compliance on purchases across your organization

 

Share this Image On Your Site

 

The post Procure to Pay Process – ASUG Survey Finds Sales and Use Tax Obligation Blindspot – INFOGRAPHIC appeared first on Sovos Compliance.

 

Previous Article
The Top Three SAP Challenges Impacting Manufacturers
The Top Three SAP Challenges Impacting Manufacturers

As regulations continue to change, many manufacturers are realizing SAP is not equipped to support their un...

Next Article
Sales Tax Moves into the Modern Age…Are You Ready?
Sales Tax Moves into the Modern Age…Are You Ready?

If you haven’t already taken steps to position yourself to handle the collection and remittance responsibil...

×

Weekly Sales & Use Tax related articles and resources. Subscribe:

First Name
Last Name
Company
Thank you!
Error - something went wrong!