Procurement and Tax: Implementation Considerations

Procurement functions are in the business of transformation. They are leveraging new technologies to automate more transactional activities. And they are reallocating the time they previously spent performing manual processes to identifying innovative ways to enhance organizational value through digital procurement, e-invoicing, supplier risk management, e-sourcing, and other advanced capabilities.

Integrating tax automation with a procurement system allows the tax department to control all tax determinations and calculations throughout the procure-to-pay cycle while enabling procurement teams to focus much more of their time, energy, and innovation on increasing efficiency, improving processes, and advancing the function’s transformation. Tax and procurement teams can set the stage for successful technology integration by understanding how tax automation is evolving and by addressing five important considerations prior to an implementation.

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