Photo Courtesy of PRWeb.com: A customer gets his tires checked at Discount Tire
“We expect to simplify our sales and use tax process with confidence and with more consistency than ever before by using ONESOURCE, a trusted tax platform used by Global Fortune 500 companies to manage the entire indirect tax compliance lifecycle,” said Dean Muglia, Executive Vice President, Accounting, for Discount Tire. “After a full evaluation of the market, Thomson Reuters’ ability to rapidly deploy its industry-proven tax platform, coupled with the company’s deep SAP expertise and access to the latest tax data were among the key reasons we decided to go with them.”
Discount Tire, a tire and wheel retailer in the U.S., was previously using a combination of processes and software to manage its operations. The company used ONESOURCE Indirect Compliance for its monthly tax returns and manually managed its tax policy liabilities. The complete ONESOURCE Indirect Tax solution will help Discount Tire achieve higher compliance by automating customer and product taxability rules, providing timely and relevant tax data and integrating with finance systems and existing SAP ERP platforms.
“When companies consolidate their sales and use tax operations they can achieve a higher degree of compliance more efficiently,” said Gary Allen, vice president of software technology, ONESOURCE Indirect Tax. “Thomson Reuters already works with a growing roster of retail companies to achieve their transaction tax compliance objectives, so Discount Tire will benefit from this sector-specific expertise.”