Las Vegas, Nevada - Ryan & Company, America's largest independent provider of state and local tax services, and Technology Solutions Company (TSC), a certified SAP implementation partner, today announced the availability of TaxDecisionERP™, a jointly developed automation software solution for SAP that adds key use tax calculation functionality to standard SAP-Vertex® or SAP-Taxware® applications. TaxDecisionERP addresses problems associated with incorrect use tax calculations resulting in overpayments and penalties.
Ryan & Company and TSC will be unveiling the product at the SAP Financials Conference at the Bellagio Hotel in Las Vegas, February 23 - 25. During the conference, they will be presenting an educational session on Integrated Tax Solutions, which will provide insight on common use tax issues as well as process and technology improvements that can improve compliance and reduce costs.
For 13 years, Ryan & Company has helped organizations recover millions of dollars by implementing effective use tax management practices. TaxDecisionERP automates those best practices and leverages the inherent value of SAP's technology to maximize its functional strengths. "By combining TSC's SAP technology expertise and Ryan & Company's use tax domain knowledge, we have developed a solution for SAP customers that extends their existing technology to capitalize on use tax savings opportunities," stated David Wasson, TSC Senior Vice President.
Best Practice Use Tax Management Saves Money & Eliminates Errors "With TaxDecisionERP, we will have the tools to automate the complex variables in use tax calculations and improve the accuracy of our tax compliance," said Walt Stone, Solvay America's Tax Director. Solvay America is the U.S. holding company of the North American operations of the Solvay Group, an international chemicals and pharmaceuticals manufacturer. Solvay America will be using TaxDecisionERP to improve the way it manages use tax activities, increase efficiencies in compliance, and enhance cash flow.
TaxDecisionERP provides SAP users with a better solution for use tax management and compliance, by automating complex, labor-intensive calculation functions, resulting in benefits that include:
- Reducing tax overpayments and penalties and interest from underpayment
- Improving cash flow by paying tax on actual use rather than at invoice payment
- Eliminating manual labor hours spent calculating, correcting, and reconciling use tax
- Enhancing audit and trace ability tools for Sarbanes-Oxley documentation, monitoring, and controls
- Creating purchase orders with correct product codes to accurately determine use tax
- Generating real-time calculations as goods are issued and services are delivered
Tax Recovery Combined With On-Going Automation Yields ROI
"TaxDecisionERP represents one half of the use tax equation," says Ryan & Company CEO, G. Brint Ryan. "Leveraging our use tax knowledge, we first help our clients recover previous overpayments based on inadequate use tax management. Once the appropriate processes are established, TaxDecisionERP helps to sustain the best practices and provide for effective use tax management in the future."
To provide maximum benefit to clients pursuing use tax improvements, Ryan & Company provides integrated services that include:
- Feasibility studies to assess opportunity for tax recovery
- Troubleshooting services to determine the cause of tax calculation or reporting errors and to assist in developing and implementing appropriate solutions
- Evaluation services to review the business and system processes, provide a quantitative measure of the accuracy of the system, and make recommendations for system or process improvements
- Implementation services to aid in planning, developing business requirements, conducting system analysis, installing tax software for sales, use, and telecommunications calculations, system configuration, testing, and post-implementation support
Ryan, an award-winning global tax services and software provider, is the largest Firm in the world dedicated exclusively to business taxes. With global headquarters in Dallas, Texas, the Firm provides an integrated suite of federal, state, local, and international tax services on a multijurisdictional basis, including tax recovery, consulting, advocacy, compliance, and technology services. Ryan is a 10-time recipient of the International Service Excellence Award from the Customer Service Institute of America (CSIA) for its commitment to world-class client service. Empowered by the dynamic myRyan work environment, which is widely recognized as the most innovative in the tax services industry, Ryan’s multidisciplinary team of more than 4,100 professionals and associates serves over 21,000 clients in more than 60 countries, including many of the world’s most prominent Global 5000 companies. More information about Ryan can be found at ryan.com. “Ryan” and “Firm” refer to the global organizational network and may refer to one or more of the member firms of Ryan International, each of which is a separate legal entity.
Senior Manager, Content, Communications, and Public Relations
- Tax Technology