Pitney Bowes Business Insight and Second Decimal Team to Provide Geospatial Sales and Use Tax Rate Solutions
March 25 2011 - 8:45AM
Business Wire
Pitney Bowes Business Insight, a global leader in customer data,
analytics and communication software and services, has formed an
alliance with Second Decimal, LLC, a leader in the tax automation
space, to provide several geospatial sales and use tax rate
determination and monitoring solutions. As a result, customers can
now use location intelligence to streamline tax rate management,
increase tax compliance and reduce operational costs.
Companies continue to experience challenges with accurate tax
rate assignments that can lead to audit exposure and penalties for
incorrect filings. Common problems include: understaffed and
under-funded tax departments, out-dated or zip code-based tax
software products and the need to research thousands of state and
local taxing jurisdictions to keep up with the constantly changing
rates and jurisdiction boundaries. This alliance enables customers
to use an integrated solution to find the correct jurisdiction and
rate for any address or latitude/longitude coordinate. In addition,
customers can store their locations and leverage Pitney Bowes
Business Insight’s geospatial suite to determine exact tax
jurisdictions for those locations automatically – then monitor them
for rate changes. Second Decimal’s RatePoint software will
facilitate the data load and pair the locations with detailed sales
and use tax rates. The offerings can be deployed as a premise-based
solution or hosted by Second Decimal. Customers will also be able
to include the functionality in their own products and services
through the availability of a standard application programming
interface.
“There is demand in the market for location-based rate
monitoring powered by a geospatial engine with a software package
that can be hosted, delivered locally, or made available through a
Web services API,” said Jayme Fishman, CEO of Second Decimal. “The
geospatial data from Pitney Bowes Business Insight will eliminate
common errors that stem from incomplete data – usually in the form
of a standard postal address that does not have enough granularity
to ensure accurate jurisdiction/rate assignment – because they can
transform those addresses to an exact location on a map and return
the correct tax jurisdictions, down to the rooftops. Customers with
locations that don’t have a street address will also benefit from
the fully automated system’s ability to use latitude and longitude
coordinates in lieu of postal address data.”
In addition, Second Decimal will offer Pitney Bowes Business
Insight’s address cleansing solution as a service that can take
street address data, cleanse and standardize it, and return
additional data elements to a standard zip code. As a result,
customers can capitalize on more reliable address data for correct
tax determination.
“With this alliance, Pitney Bowes Business Insight and Second
Decimal are filling an industry void,” said Tony Burton, Pitney
Bowes Business Insight, GeoTAX product manager. “Together, we’re
helping companies eliminate the guesswork and uncertainty that has
encumbered traditional tax jurisdiction and rate assignment.”
About Pitney Bowes Business Insight
Pitney Bowes Business Insight is a software and services company
that provides solutions to help organizations acquire, serve and
grow relationships with customers and citizens. These solutions
enable lifetime customer relationships by integrating data
management, location intelligence, sophisticated predictive
analytics, rules-based decision making and cross-channel customer
interaction management to increase the value of every customer
communication while also delivering operational efficiencies.
Pitney Bowes Business Insight is a wholly-owned subsidiary of
Pitney Bowes Inc. (NYSE:PBI), a customer communications management
technology leader. For more information, please visit
www.pbinsight.com and www.pb.com.
About Second Decimal
Second Decimal is a technology company that transforms corporate
tax departments through an innovative approach and design that
combines the power of tax expertise and technology. Second Decimal
infuses the intellectual capital of the most seasoned tax and
technology experts in the industry with a suite of intuitive and
powerful software applications that exponentially improve accuracy,
productivity, and processes. For more information, please visit
www.seconddecimal.com.
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