News

Taxware announces general availability of Taxware Enterprise

Friday 23 April 2004 11:45 CET | News

Taxware has released its Taxware Enterprise solution that delivers unprecedented flexibility to decrease cost of ownership while increasing control with a single global tax engine.

Targeted at mid- to large-sized enterprises, Taxware Enterprise determines sales and use tax liabilities for over 8,000 state and local jurisdictions in the U.S., and Value Added Tax (VAT) and other consumption taxes for more than 100 countries worldwide. There are more than 27,000 taxing jurisdictions worldwide, many of which change frequently. Exploiting its competitive advantage in tax research, pre-configured complex tax rules are updated as needed by Taxwares in-house tax attorneys and analysts. In addition to a single installation of Taxware satisfying U.S. and international needs, Taxware Enterprise can be deployed locally or centrally to manage the tax compliance of multiple related or unrelated companies. Specific compliance activities can be centralised or decentralised to enable any organisations’ control or cost saving objectives. Taxware Enterprise builds upon the success of the existing Taxware product line, in particular Taxware Sales and Use Tax and WorldTax. The architectural design of Taxware Enterprise uniquely separates tax data from the software application itself, which, in addition to accelerating updates of tax rules, enables the end user to easily customise any component of the tax rule through a powerful user interface. Taxware Enterprise Product Highlights Functionality - Unified, automatically updated tax solution for thousands of jurisdictions in more than 100 countries - Designed to accommodate Streamlined Sales Tax Project rules as they become effective - Geo Code selection process requires less manual intervention - Multiple transaction dates (order recording date, shipment date, invoice date, etc.) compared to determine the appropriate Tax Point Complex situsing / sourcing rules support scores of industries - Delivery charges, discount amounts and other taxable amount adjustments treated as exclusions (instead of exemptions), increasing calculation accuracy - Accommodates millions of complex scenarios, including exemptions, special rates, caps and thresholds, in a rule hierarchy that determines the appropriate combination of rules - Industrys most comprehensive Taxability Matrix, with integrated global research covering thousands of industry-specific product, service, entity and use-based rules - Tax Decision Codes identify why calculation decisions were made through-out every step in the liability determination process - Reporting tools support Sarbanes-Oxley compliance Flexibility - Allows for centralising and decentralising compliance activities across organisations, while keeping control of tax decisions in the tax department - Modular product versions, enabling customers to purchase only subsets of the tax research - Optionally offered as a hosted service, resulting in decreased maintenance requirements and an easier setup - Rule-based structure facilitates rapid release of law changes - Enhanced security that allows for restrictions on data access privileges for the appropriate users - Support for Unicode, allowing Taxware Enterprise to receive, send, store and display multiple-byte Asian, Arabic and other languages - Tax rule customisation abilities are sufficiently flexible to accommodate almost any business need Technology - J2EE-based architecture development, allowing for support of multiple operating platforms and databases - XML interface that supports standards such as Simple Object Access Protocol (SOAP) and Web services - Browser-based User Interface that enables users to access Taxware Enterprise from any PCs Web browser without a separate installation.


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Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce


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