Tax Interchange for Retail
DMA understands the unique challenges facing the retail industry and the demands placed on the tax department. Increased mergers and acquisitions, greater consumer demands, disparate systems and technologies, and a multi-channel environment, combined with lack of access to data for reporting, compliance and audit defense, creates significant complexities for the retail tax department from a sales/use tax perspective. DMA offers an industry-leading solution that addresses the retail tax department’s specific needs in this ever-changing industry.
DMA’s Tax Interchange for Retail is an automated, end-to-end, scalable and centralized tax management and reporting solution tailored to the unique needs of the retail tax department. Designed to assist retailers in complying with tax regulation and industry changes, the solution provides:
- Flexible integration with multiple content providers (Taxware, Wolters Kluwer, ONESOURCE Indirect Tax, Vertex)
- Centralized management and control
- Centralized monitoring and recording
- Reporting and compliance
In addition, Tax Interchange for Retail reduces the retail tax department’s dependence on internal IT resources.
Tax Interchange for Retail provides many benefits to retail companies. The solution:
- Addresses retailers’ particular transaction types, tax and technical requirements because it was designed and developed specifically for retailers
- Allows the tax department to achieve a greater level of compliance by timely and accurate maintenance of tax rules and rates
- Offers the tax department centralized control over the maintenance of rates and rules, reducing the dependency on IT
- Provides better tools for maintenance and proactive, value-added planning
- Reduces audit exposure by achieving a greater level of end-to-end compliance
- Fosters a greater level of Sarbanes-Oxley compliance for the tax department by utilizing role-based security and a detailed audit trail