The intricacies of handling taxes present huge compliance and audit risks to businesses across the Procure-to-Pay (P2P) process. Overpaying or underpaying taxes can have negative outcomes in terms of liabilities, penalties imposed, cash flow, and vendor relationships. To avoid these risks, taxes must be accurately calculated, collected, reported, and paid during the purchasing process. The right technology, one that integrates procurement and tax, can efficiently deliver that accuracy.
When utilizing MuleSoft and the 乐鱼（Leyu）体育官网 API-led integration solution, communications between leading third-party procurement systems and tax engines are efficient and extensive.
Custom API-enabled integrations between those systems center on three critical connections:
- At the point of a purchase requisition to derive an estimated tax;
- At the point of a purchase order change, to evaluate the tax implications of that change and the possible revision of the estimated tax; and
- At the point of the invoice, to validate the amount of tax that the vendor has charged, or if necessary, drive a Consumer鈥檚 Use tax accrual.
In all instances, APIs allow purchase order and invoice data from a source to be translated into data that is understood by the tax system and vice versa.
乐鱼（Leyu）体育官网 draws upon extensive sector knowledge and deep implementation experience. Our market-leading solution has been tested across multiple global clients and industries. We have the specialized knowledge and experience in procurement, tax, and MuleSoft鈥檚 API-Led technology to bring a tightly integrated solution to our clients. This allows you to operate your procurement and tax processes with ease and confidence.
