Actabl, a hospitality software company has announced a partnership with Avalara. Actabl software supports hotels with actionable insights to drive profit. Avalara is a provider of cloud-based tax compliance automation for businesses of all sizes.
Innovative solution – streamlining tax compliance
The partnership between Avalara and Actabl consolidates revenue and tax data from business systems, streamlining tax compliance processes through automation. In the hotel industry, daily tax-related activities involve handling data from various sources, making it a labour-intensive and error-prone process. Actabl recognises the need for automation, not just for cost savings but also to address the severe labour shortage in the hospitality sector. Hotel management companies can leverage data ProfitSword’s consolidation and send it to Avalara, automating their tax compliance and reconciliation processes. ProfitSword is Actabl’s suite of business intelligence tools providing real-time data and forecasting crucial for enterprises.
The integration allows hotel businesses to seamlessly compile data, automate tax return preparation, and file returns using monthly transactional data. This partnership introduces technological innovations that streamline tax compliance, freeing up valuable time and resources for hoteliers.
“A load off my shoulders”
Trisha Campbell, Regional Controller at Valor Hospitality Partners says, “Automating compliance has taken a load off my shoulders each month. I am confident property registrations are being completed properly and monthly reporting is prepared accurately and filed on time. The Avalara team has been so helpful in setting up our tax profile and has improved our business processes.
The integration with ProfitSword further streamlines the process by automating the flow of transactional data for recalculation and Avalara reporting. The reconciliation has enabled us to make upstream adjustments for an increased level of compliance and reduced audit risk. With ongoing staffing issues, automation lets us effectively utilise existing personnel. Between the finance team and the on-property accountants, we’re saving about 5-6 days per month across our hotel portfolio. This reduces risk and set us up for scale without adding headcount,” Campbell added.
Oliver Hoare, General Manager of Lodging at Avalara, expresses enthusiasm about the collaboration. Hoare says, “Tax compliance is one of the most onerous factors impacting hotel management groups and their ability to operate and scale efficiently. Avalara’s partnership with Actabl allows hotel management groups to divert their aggregated data via ProfitSword to Avalara. It’s a win, win, win – an enhanced feature for Actabl, increased speed to market for Avalara. It gives ProfitSword customers a vastly simplified route to automation”.
“We recognise the challenges that hotel operators and hoteliers face, particularly regarding tax reconciliation and compliance,” said Actabl’s Chief Revenue Officer, Jason Luo. “Our partnership addresses our customers’ needs by providing a comprehensive, user-friendly platform for enterprise-wide monthly tax reconciliation and compliance filings. It provides substantial time savings for our customers’ accounting and finance teams. We are pleased to add another valuable tool to drive value and operational excellence in the hospitality industry.”
Enhancing tax efficiency and accuracy
Navigating the complex world of hotel industry tax compliance involves dealing with manual tasks prone to errors and audit risks. Tasks such as calculating tax rates and filing accurate returns demand meticulous attention. Any misstep can result in compliance issues, financial consequences, and intensive audits.
By integrating with Avalara for Hospitality, hotel businesses can access accurate real-time tax calculations. In addition to regularly updated tax content repositories, and comprehensive visibility into overall compliance through advanced reporting tools. Tedious tax returns preparation, filing, and remittance processes are automated using Avalara. This reduces the risk of audits, effectively managing tax-related jurisdictional notices. It provides a centralised online portal for seamless compliance management with heightened transparency.
Actabl suggests this integration signals a meaningful advancement in automating tax-related processes for hotel businesses. The company says it ensures enhanced efficiency, reduced manual workload, and minimised risk of human error in tax compliance.
Enterprise Times: What this means for businesses.
Managing tax compliance is always major headache for any enterprise. Consequently, this partnership is a smart move on the part of Actabl, and part of its strategic vision for 2024. As a result, the integration with Avalara expands its service offerings to current and potential customers. It provides them with comprehensive solutions to navigate the evolving landscape of the hospitality industry. Hotels have an additional technological option for managing the technological landscape. Hotels and other hospitality establishment have an integrated solution route with a digital-first approach to automating and streamlining processes. Both companies expect the partnership to usher in a new era of efficiency, cost savings and empowerment within the hospitality industry. The new solution is positioned to support productivity and efficiency while cutting costs through tax reporting and data management. Look forward the future use case results from this particular partnership.
