Phin Security provides a comprehensive security awareness training and phishing simulation platform that helps organizations mitigate human risk. As a fast-growing startup preparing for Series A funding, the company needed scalable solutions that wouldn't drain their lean team's limited resources. Working with their accounting partner, FinStrat Management, they found a solution that transformed their approach to sales tax compliance.
Tax compliance overwhelms limited resources
As Phin Security grew, the company was reaching economic nexus thresholds in multiple states, potentially triggering penalties. As the person responsible for finance, operations, and HR, Director of Operations Will Hea recognized he couldn't afford to spend valuable time on sales tax compliance while managing so many other critical functions for the startup.
"Before Anrok, we faced this significant sales tax issue where we didn't even know how much we owed, or which states we owed," explains Will. "We didn't know where our customers were located, so the scale of our tax liability could have been very large, or it could have been very small."
The uncertainty created an ominous cloud over the business. Sales tax compliance was consuming a staggering 20% of Will’s time, while FinStrat was spending 50% of their time on compliance-related tasks. With no dedicated finance function and limited engineering resources, Phin Security needed a solution that would require minimal ongoing attention while ensuring complete compliance.
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