{"id":77527,"date":"2020-06-16t00:00:47","date_gmt":"2020-06-16t04:00:47","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=77527"},"modified":"2024-06-19t10:06:02","modified_gmt":"2024-06-19t14:06:02","slug":"avalara-launches-ai-tool","status":"publish","type":"post","link":"\/\/www.g005e.com\/2020\/06\/16\/avalara-launches-ai-tool\/","title":{"rendered":"avalara launches a.i. tool to streamline tax classifications"},"content":{"rendered":"
seattle-based avalara inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, is rolling out an artificial intelligence-based tax classification tool, designed to cut the time spent by avalara avatax users classifying products and taxability.<\/p>\n \u201cthe accurate classification of products and services has always been a bottleneck for customers in their tax compliance journey,\u201d said sanjay parthasarathy, chief product officer at avalara. \u201cby harnessing the power of ai and machine learning, we have not only accelerated the classification process by providing a solution that helps users arrive at the right tax classification quickly and efficiently without being a tax expert, but we have also made it more accurate.\u201d<\/p>\n the move follows avalara’s 2019\u00a0acquisition of chennai-based indix, an a.i.-driven data intelligence startup helmed by parthasarathy at the time.<\/p>\n with more than 13,000 tax jurisdictions in the u.s. alone, determining the taxability for products or services is one of the more intricate and time-consuming parts of tax compliance.\u00a0the complexity of accurate tax determination lies in knowing details about a product or service, such as its ingredients, how it\u2019s sold, where it\u2019s sold, how it\u2019s delivered, and more. nearly every state has a unique approach to defining the taxability of products. for example, in california, when a grocery store sells cold food items and individual hot drinks to go state sales tax does not apply, while vending machine sales of cold food products and hot drinks are taxable.<\/p>\n ensuring products are accurately classified is critical to achieving tax compliance and makes certain businesses aren\u2019t over- or undercharging taxes on transactions.<\/p>\n avalara\u2019s ai-driven tool helps users determine the right tax code in avatax for a product or service by using simple search terms and an easy, interactive q&a experience.<\/p>\n this enables businesses to:<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" <\/b>move follows 2019 aqcuisition of india-based a.i.-powered data intelligence startup.<\/b><\/p>\n","protected":false},"author":17,"featured_media":77528,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2780,3120,3002,1906,2246,2306],"tags":[3445,3447],"class_list":["post-77527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-2","category-pro-member-exclusive","category-special","category-tax-practice","category-busy-season","category-tech-and-fintech","tag-ai","tag-artificial-intelligence"],"acf":[],"yoast_head":"\nsimplifies product classification and taxability determinations.<\/strong><\/p>\n
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