Grant Thornton LLP has introduced its new iNDIRECT.360 system to help companies manage their indirect tax processes and data needs.
The system handles sales tax, property tax, business licenses, exemption certificate management, consulting and automation of the indirect tax function, using workflow technology. iNDIRECT.360 employs proprietary Grant Thornton technology to import and process raw client data, including sales information, property data, payment details and more. The data goes into an indirect tax warehouse, where users can access it for audit analysis, visualizations and other needs. Grant Thornton can use the data for regulatory tax filings and process payments for companies related to those regulatory filings.
A related product, RapidECM, was released as part of the iNDIRECT.360 system. It streamlines a company’s ability to acquire, track, update and report on sales tax exemption certificates through a digital interface to comply with sales tax requirements, in the wake of the Supreme Court’s South Dakota v. Wayfair decision.
“The indirect tax landscape is changing rapidly, which is challenging our clients in unprecedented ways,” said Mark Arrigo, Grant Thornton’s national managing partner of state and local tax, in a statement. “As businesses strive to remain competitive, they are increasingly tasked with managing large volumes of data, while also contending with mounting regulations, increasing compliance and reporting obligations.”
For more information, click here.