SpeedTax Integrates Sales Tax Application With NetSuite's Cloud Computing Platform
Integrated Solution Can Help NetSuite Customers Save the Time and Costs
Of Sales Tax Compliance and Avoid Penalties for Non-Compliance
Laguna Hills, Calif. – September 28, 2010 – SpeedTax, a provider of Software-as-a-Service (SaaS), fully-automated sales tax solutions, today announced the integration of its SpeedTax application with the NetSuite cloud computing platform from NetSuite Inc. (NYSE: N). Built using NetSuite's SuiteCloud development platform, the combined solution lets NetSuite customers fully automate their sales and use tax compliance and management processes, cutting the administrative time and costs associated with manual calculations, and avoiding costly penalties for non-compliance.
"Keeping up with the ever-changing regulations of the more than 13,000 taxing jurisdictions nationwide poses a significant challenge to any business that sells products or services," said Anton Donde, CEO at SpeedTax. "Our integration can help businesses of all sizes reduce the headaches and overhead, as well as the audit risks, posed by sales and use tax management and compliance, while also reaping the benefits of lower total cost of ownership associated with Software-as-a-Service applications."
SpeedTax performs real-time, automated sales and use tax calculations, automatic returns preparation and filing, and reporting, treasury management, and audit defense. SpeedTax automatically updates tax rates and rules when they change, and because SpeedTax is a SaaS application, its startup and maintenance costs are lower than the cost of installing a complete on-site sales tax software solution.
Working with NetSuite
SpeedTax for NetSuite requires no changes to existing financial and Ecommerce workflows, and can be activated online within hours. It handles everything from address validation in either batch or real-time to exemption certificate management, eliminating manual processes such as address research and rate look-ups. It simplifies sales and use tax management for NetSuite customers by automating the most tedious aspects of the process.
"NetSuite strives to streamline our customers’ operational efficiencies by offering robust, cloud-based business management software," said Raghu Gnanasekaran, Sr. Director of Business Development and Platforms at NetSuite. "With the SpeedTax integration we’re able to deliver a sales and use tax solution that’s easy-to-use, and cost effective, and that helps our customers further centralize their key business processes."
Visit www.suiteapp.com for more information on the integrated solution.
About SpeedTax
SpeedTax is an easy-to-use, affordable and technologically advanced Software-as-a-Service sales tax solution. SpeedTax performs real-time, automated sales tax calculations, integrates seamlessly with its customers' financial or e-commerce systems, and provides automatic returns preparation and filing, while enabling reporting, treasury management and audit defense with sophisticated, web-based compliance management and reporting tools. SpeedTax helps businesses of all sizes to accurately and affordably outsource the most tedious, repetitious and time-consuming aspects of sales tax compliance – researching, calculating, posting, reporting and remitting sales taxes – while simultaneously acquiring the ability to better manage their business via online, real-time access to sales tax data. For more information, visit www.speedtax.com, or contact us at 888.349.2441.
About SuiteCloud
NetSuite's SuiteCloud is a comprehensive offering of cloud computing products, development tools and services designed to help customers and commercial software developers take advantage of the significant economic benefits of Cloud computing. Based on NetSuite, the world's most widely used Software as a Service business application suite, SuiteCloud enables customers to run their core business operations in the Cloud, and software developers to target new markets quickly with newly-created mission-critical applications built on top of mature and proven business processes. The complete SuiteCloud offering includes NetSuite's multi-tenant, always-on SaaS infrastructure; the NetSuite Business Suite of applications (Accounting/ERP, CRM, Ecommerce); the NS-BOS Development Platform; the SuiteCloud Developer Network (SDN), a comprehensive developer program for Independent Software Vendors (ISVs); and SuiteApp.com, a single-source online marketplace where customers can find applications to meet specific business process or industry-specific needs. For more information on SuiteCloud, please visit http://www.netsuite.com/developers.
Media Contact:
Brian Austin
Director of Public Relations
949.215.1177 (Office)
707.799.9838 (Mobile)
brianaustin@speedtax.com
NetSuite, the NetSuite logo, SuiteBundler, SuiteCloud, Suitelets and SuiteScript are service-marks or trademarks of NetSuite Inc.
