This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

CCH CorpSystem Sponsors New Report On Effective Sales And Use Tax Management

RIVERWOODS, Ill., June 23 /PRNewswire/ -- CCH, a Wolters Kluwer business and a leading global provider of tax, accounting and audit information, software and services has sponsored a new report, Effective Sales and Use Tax Management: Reducing Errors and Increasing Productivity . CCH, under the CorpSystem brand, delivers integrated sales and use tax solutions that help manage compliance deadlines and risks, improve productivity and increase efficiency (

The report, undertaken by Aberdeen Group, a Harte-Hanks Company (NYSE: HHS), found that top companies were able to dramatically reduce their corporate risk profile, and maintain sales and use tax (SUT) and / or value-added tax (VAT, for multi-national companies) compliance, by leveraging automated tax management tools. These tools range from tax calculation engines, filing and remittance systems, to audit control solutions. Gaining visibility to state, regional or jurisdictional SUT requirements, while having capabilities to assess level of audit exposure and risk, has been a core priority among companies across all industries. As such, there is a continued need to leverage new technologies and services available to support SUT compliance initiatives.

The report found that the use automated tax calculation, preparation, filing and remittance is becoming more pervasive in a globalizing economy. Though such solutions are available, the benefits of audit exposure and compliance risk reduction can only be realized if these technologies are aligned with process improvements. Over 100 companies were surveyed between March and April of 2010 to identify best practices and current capabilities in transaction tax management. The top-performing companies demonstrated that to achieve a high-level of success in managing indirect taxes (e.g., SUT and VAT) a strategic combination of process re-engineering and software automation should be implemented.

"Top-performing companies are growing steadily to include new sales territories and supplier relationships each day. With more responsibilities ahead to comply with the multitude of dynamic tax rates, Best-in-Class companies need to continue to leverage automated tax solutions to stay competitive," explains William Jan, Senior Analyst of Financial Management & GRC at Aberdeen Group. "Dedicating staff time to work with government auditors and / or correct tax mistakes creates additional operating costs – funds that could otherwise be invested in more productive activities. Best-in-Class companies demonstrate significant year-over-year cost reductions in audit penalties, fines, overpayments and corrective labor."

This report is designed to provide guidance on effective SUT management in light of a heavily dynamic transaction tax environment.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
HHS $1.82 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs