Salesforce Tax
Salesforce Tax
OVERVIEW
Informatica is a leading provider of enterprise cloud data management and integration solutions, empowering organizations to maximize the value of their data and drive digital transformation. With a strong focus on data governance and analytics, Informatica helps businesses unlock the full potential of their data assets.
Informatica was seeking to enhance their end-to-end order to tax process in Salesforce by implementing tax and audit compliance with the help of Thomson Reuters. They faced challenges like:
- Sales tax compliance requires proper auditing to ensure compliance with regulations.
- The native Salesforce tax engine had a fixed rate structure, limiting flexibility in tax calculations.
- Auditing the tax for the quote-to-cash (Q2C) process was a manual and labor-intensive task.
- It was challenging to keep up with frequent changes in sales tax laws.
- Reconciling and integrating tax data with the general ledger posed difficulties.
SOLUTION PROVIDED BY PEOPLE TECH GROUP
People Tech, as an ISV RMSI with expertise in Salesforce, understood the challenges and developed the ONESOURCE Determination Salesforce for Sales Cloud. The solution offered the following features:
- Built on the Salesforce App Bundle framework.
- Address validation for the quote-to-cash process.
- Management of exemptions at the product and customer levels.
- Reconciliation reports for accurate general ledger posting to the ERP.
CRM Capabilities:
- Itemized tax rates for opportunities, sales quotes, and sales orders.
- Address validation for precise tax calculation.
- Configuration of tax exemptions for customer accounts.
- Calculation of aggregate tax for entire sales orders.
- Exporting indirect tax reports.
BENEFITS
- Simplified setup and flexible tax engine within Salesforce.
- Support for both Classic and Lightning Experience.
- Accurate tax calculation for CRM, CPQ, and billing processes.
- Ability to calculate tax inclusive of freight and non-inventory items.
