Powerful Module Brings Comprehensive Global Compliance and Broad Support for Diverse Tax Models Around the World
Tax Engine
"Our robust Tax Management Engine provides a complete solution for automating tax activities within the AP flow in countries across the globe, so customers can focus on strategic business initiatives,” said Sudarshan (Suds) Ranganath, senior vice president of Product Management at Corcentric. "This service increases the speed of invoice processing and removes the time-consuming process of managing discrepancies. And with e-compliance reforms on the horizon, this will help customers avoid potential penalties for incorrect tax declarations.”
Key benefits of Corcentric's International Tax Management Engine include:
Enhanced accuracy and efficiency
- Automates complex tax calculations to drastically reduce manual tasks, helping to ensure reliable accuracy across all transactions.
- Enables customers to handle tax computations with confidence, minimizing the risk of human error and freeing up resources to focus on core business activities.
- Adapts to the evolving regulatory landscape, particularly in regions with strict e-invoicing and e-compliance mandates.
- Simplifies compliance with detailed configurations, allowing tax applications to reflect regional requirements down to each transaction's unique context.
- Empowers customers with precision and efficiency, helping them stay compliant and competitive in an increasingly regulated environment.
- Value-Added Tax (VAT) for global applications.
- Sales tax with tailored regional configurations.
- Compound tax structures for multi-jurisdiction transactions.
- Intra-community taxes for cross-border compliance within economic regions.
Corcentric offers a full suite of Managed AP solutions that combines service, technology, and financing to work as an extension of a customer's back-office, optimizing end-to-end workflows. From invoice receipt to approval routing to purchase order (PO) and receipt of goods matching, Corcentric helps customers reduce costs, increase accuracy, and offer real-time visibility into invoice and expense status.
About Corcentric
Corcentric is a leading global provider of best-in-class procurement and finance solutions. We offer a unique combination of technology and payment solutions complemented by robust advisory and managed services. Corcentric reduces stress and increases savings for procurement and finance business leaders by forming a strategic partnership to diagnose pain points and deliver tailor-made solutions for their unique challenges. For more than two decades, we've been a trusted partner who delivers proven results. To learn more, please visit www.corcentric.com.
Media Contact for Corcentric:
Rob Tacey
Director, Communications & Public Relations
(302) 897-3094
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d16de205-9442-4830-a940-fb6dc237a26a
