Manufacturing, finance, and the cloud

As a manufacturing business, tax compliance has some specific challenges with rules and tasks at every step of the manufacturing and selling process. It can be a complex and costly for manufacturers, who must navigate these rules while also trying to save money and streamline operations. Manufacturing and distribution company leaders recognise the importance of managing taxes when making changes to their production and supply chains. However, these leaders would prefer to spend more time making important decisions rather than dealing with tax problems.

Fortunately, there’s a solution. By moving important finance technology functions to the cloud, IT and tax departments can collaborate more effectively to address tax issues. By using cloud technology in finance departments, companies can streamline their tax processes and free up valuable time and resources.  

Through automation and smart data, they can for example - register and file taxes in various locations, calculate taxes on sales orders, manage large volumes of tax data and stay updated on special tax regulations. Plus, one of the other great benefits of using cloud-based tax solutions is the ability to save money spent on technology.

According to IDG research of manufacturing executives, nearly all respondents (97%) report plans to migrate business/financial applications to the cloud at some point. Nearly half (43%) plan a hybrid approach, and around a third (31%) will migrate as many applications as possible (1).

Moving technology in manufacturing to the cloud helps business overcome tax-related challenges and thrive in an increasingly competitive marketplace.

Manufacturing, finance, and the cloud: research insights  

In this webcast, hear from Vertex and NetSuite thought leaders as they discuss how finance executives in the manufacturing and distribution industry are transforming their tax operations and accelerating business growth using cloud technology in finance.  

Learn about finance technology direct from your peers in the manufacturing industry, including:  

• How finance leaders in the manufacturing industry are processing and managing tax today and the top challenges they encounter
• The investment priorities and drivers for finance technology. Hear insights from IT leaders in manufacturing and a discussion of ERP transformation and cloud technology in finance
• How finance executives are collaborating with IT leaders to transform finance technology and the tax function.