Eide Bailly cites risk awareness as a driver of sales tax automation
Results
Customer satisfaction
Tax expertise
Enabled growth
Summary
Results
- Customer satisfaction
- Tax expertise
- Enabled growth
Tax challenges
- Tax complexity
- Compliance risk
- Process inefficiency
Program used
Benefits
- Strengthened advisory options for clients
- Increased services offered in client financial strategies and implementations
- Improved client support for growth and change
Company overview
Customer
Eide Bailly
Industry
Accounting services
Tax type
Sales and use
Eide Bailly is a CPA and consulting firm dedicated to helping clients grow, thrive, and embrace opportunities and innovation.
Tax challenges
Sales tax continues to be one of the most dynamic and risk-prone areas of business operations. The U.S. Supreme Court’s decision in South Dakota v. Wayfair, Inc., has allowed states to implement economic nexus laws since 2018, but many businesses are still unaware of their full compliance requirements.
Businesses continue to discover unaddressed tax obligations, sometimes through painful audits. Top 20 accounting firm Eide Bailly has found ways to help clients stay compliant with these varying regulations and minimize the audit risks they pose.
Why Avalara?
Eide Bailly’s teams have been referring clients to Avalara for about 10 years to improve operational efficiencies and decrease the risks associated with sales tax compliance.
The Avalara accountant solution provides in-house compliance tools based on proprietary technology while certified implementation services allow firms to refer Avalara implementation directly at client sites.
Eide Bailly noted that they prefer clients to use Avalara if they have multiple tax jurisdictions, ongoing nexus risks, or large volumes of returns. “If clients want to automate the right way, even if they don’t have that much complexity but have a lot of states or volume, Avalara is the best solution,” says John Gupta, principal/state and local tax practice leader.
Tax challenges
- Tax complexity
- Compliance risk
- Process inefficiency
Program used
Benefits
- Strengthened advisory options for clients
- Increased services offered in client financial strategies and implementations
- Improved client support for growth and change
“If clients want to automate the right way, even if they don’t have that much complexity but have a lot of states or volume, Avalara is the best solution.”
— John Gupta
Principal/State and Local Tax Practice Leader
“If clients want to automate the right way, even if they don’t have that much complexity but have a lot of states or volume, Avalara is the best solution.”
— John Gupta
Principal/State and Local Tax Practice Leader
Results
Once Avalara is integrated with a client’s ERP or sales and accounting systems, the compliance process can be significantly automated.
Avalara handles remittance to taxing authorities in jurisdictions where clients have an obligation. Financial managers always have access to live, detailed reporting to help ensure compliance.
Offering the right tax automation solutions helps drive client interest and growth in the firm’s technology advisory, SALT, and outsourced accounting services. Digital transformation also helps the firm by providing greater assurance that clients are compliant and data is more accurate.
These factors help clients to be more financially sound and better plan for growth, further strengthening the firm-client relationship. “Client experience is incredibly important to Eide Bailly,” says Dino Farfante, principal, chief growth executive, technology consulting. “We want to continue to grow with our clients and this gives us confidence that we’re adding value to them throughout their lifecycle.”
