Finding a vendor to outsource tax compliance

Outsourcing compliance is a strategy that many businesses use to improve efficiency and save cost. A specialised provider can handle complex and time-consuming tasks related to sales and use tax compliance so you can focus on core operations and strategic initiatives. Businesses can avoid costly penalties and fines that may result from non-compliance and flexibly tap into the expertise of experienced knowledgeable professionals without costly overhead.  

Outsourcing compliance – the benefits

• Reduce overhead costs by avoiding the expense of hiring and training an in-house team  
• Access specialised knowledge instantly so you can keep up as tax regulations change
• Reduce your risk and prevent costly penalties and fines and achieve more easily compliance
• Streamline processes for faster, more accurate compliance. Free up time for core operations
• Maximise your resources and focus on strategic and growth initiatives.

While it can offer numerous benefits, there may be challenges in maintaining control and oversight and business must establish clear communication channels and performance metrics so that expectations are met. You may also have concerns about data security and confidentiality. That’s why a thorough vendor selection process is a must do.  

Evaluating outsource tax compliance vendors is an important process. If you want the most value from your outsourcing relationship, use our question checklist to take help you prepare your RFP.  

Vertex outsourcing vendor checklist

What is it?

The Vertex outsourcing compliance checklist is a comprehensive guide designed to help organisations create and evaluate Requests for Proposal (RFP) for outsourcing tax functions. It covers essential aspects such as vendor qualifications, service scope, pricing, compliance, and support.

Why use it:

Create comprehensive and structured RFPs for outsourcing tax functions

Identify and assess potential outsourcing compliance providers effectively.

When to use it:

When your company is considering outsourcing tax-related tasks, including sales and use tax compliance, and needs to issue an RFP to find suitable service providers

At the initial stage of the outsourcing process to ensure all necessary requirements and evaluation criteria are included.

How to use it:

As a guide to structure your RFP and evaluate responses from vendors

Follow the checklist to cover all critical areas such as vendor qualifications, service scope, pricing, compliance, and support.

You can start right now. Open the compliance outsourcing vendor evaluation checklist https://www.vertexinc.com/sites/default/files/2018-03/Vertex_OutsourcingRFPChecklist.pdf