Proactive compliance is key to protecting your company’s hard-earned revenue: Businesses that aren’t compliant can end up paying uncollected sales tax out of pocket, plus penalties and fees. In fact, the average cost of non-compliance for a SaaS company is nearly 5% of revenue.
Sales tax automation eliminates these worries, without increasing the strain on your team’s time and resources. That’s why finding a platform that can meet the specific needs of your digital business is so important—it can make the difference between total peace of mind and leaving portions of your revenue exposed.
Whether you’re evaluating a new solution for getting compliant for the first time, or making sure your current platform checks all the boxes, there are some table-stakes requirements for any sales tax tool.
Plus, if you’re selling SaaS or another digital product, there are a few key features to look for. Download this in-depth guide to the software finance leader’s essential requirements for an effective sales tax automation platform in 2023.