ION Commodities, a global leader in energy and commodity management solutions, announces its strategic partnership with Avalara, a leading provider of cloud-based tax compliance automation for businesses of all sizes. As a technology partner in Avalara’s Partner Program, ION Commodities’ solutions will standardize integration with Avalara’s AvaTax for Energy tax engine solution to address the complexities of tax compliance in energy trading and logistics.
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Tax compliance in energy markets requires navigating complex and dynamic tax rates and rules across multiple jurisdictions. This partnership between ION and Avalara will reduce the risk of incorrect or delayed tax calculations, thus helping firms to avoid financial penalties, audit risks, and increasing operational efficiency.
The forthcoming integration will offer energy companies an automated, more accurate, and scalable tax compliance solution, enabling real-time tax calculation, reducing reliance on manual processes, and minimizing errors. Customers will also benefit from streamlined operations, enhanced decision-making, and reduced administrative overhead, allowing greater focus on core trading and operational objectives.
The combination of Avalara’s industry-standard expertise in compliance automation and ION Commodities’ industry-leading commodity management platforms will deliver an end-to-end solution for trading, risk, logistics, and tax management tailored to the evolving needs of the energy sector.
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“Tax compliance is one of the most onerous factors impacting energy and commodities enterprises, and their ability to scale and operate efficiently,” said Steve Lacoff, Vice President and General Manager at Avalara. “Our partnership with ION gives mutual customers in these sectors a greatly simplified path to compliance automation, with reduced compliance risk, and greater operational efficiency.”
“Collaborating with Avalara aligns with our mission to deliver comprehensive, integrated solutions for the energy and commodities industry,” said Sunil Biswas, Chief Executive Officer at ION Corporates. “This partnership enhances our offering with advanced tax compliance capabilities, empowering our community to navigate the complexities of tax regulations with confidence.”
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Source: PR Newswire
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