ATLANTA, Jan. 17, 2024 /PRNewswire/ -- Actabl, the leading hospitality software company dedicated to empowering hotels with actionable insights to drive profit, today announced a partnership with Avalara, Inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, to usher in a new era of efficiency, cost savings, and empowerment within the hospitality industry through tax reporting and data management.
Innovative Solutions: Streamlining Tax Compliance for Hotel Businesses
The partnership between Avalara and Actabl consolidates revenue and tax data from various business systems, streamlining tax compliance processes through automation. In the hotel industry, daily tax-related activities involve handling data from various sources, making it a labor-intensive and error-prone process. Actabl recognizes the need for automation, not just for cost savings but also to address the severe labor shortage in the hospitality sector. Hotel management companies can leverage ProfitSword's data consolidation and send it to Avalara, automating their tax compliance and reconciliation processes.
The integration allows hotel businesses to seamlessly compile data, automate tax return preparation, and file returns using monthly transactional data. This groundbreaking partnership introduces technological innovations that streamline tax compliance, freeing up valuable time and resources for hoteliers.
"Automating compliance has taken a load off my shoulders each month – I'm confident that property registrations are being completed properly and monthly reporting is prepared accurately and filed on time," said Trisha Campbell, Regional Controller at Valor Hospitality Partners. "The Avalara team has been so helpful in setting up our tax profile and has improved our business processes. The integration with ProfitSword further streamlines the process by automating the flow of transactional data for recalculation and reporting by Avalara. The reconciliation has enabled us to make upstream adjustments for an increased level of compliance and reduced audit risk. With ongoing staffing issues, automation lets us effectively utilize existing personnel. Between the finance team and the on-property accountants, we're saving about 5-6 days per month across our hotel portfolio, reducing risk and setting us up for scale without adding headcount. I'd recommend Avalara with ProfitSword by Actabl to hotel management companies looking to streamline their compliance."
Oliver Hoare, General Manager of Lodging at Avalara, expresses enthusiasm about the collaboration, saying, "Tax compliance is one of the most onerous factors impacting hotel management groups and their ability to operate and scale efficiently. Avalara's partnership with Actabl allows hotel management groups to divert their aggregated data via ProfitSword to Avalara. It's a win, win, win – an enhanced feature for Actabl, increased speed to market for Avalara, and it gives ProfitSword customers a vastly simplified route to automation".
"We recognize the challenges that hotel operators and hoteliers face, particularly regarding tax reconciliation and compliance," said Actabl's Chief Revenue Officer, Jason Luo. "Our groundbreaking partnership aims to address our customers' needs by providing a comprehensive, user-friendly platform for enterprise-wide monthly tax reconciliation and compliance filings and substantial time savings for our customers' accounting and finance teams. We are pleased to add another valuable tool to drive value and operational excellence in the hospitality industry."
Enhancing Tax Efficiency and Accuracy Through Integration
Navigating the complex world of hotel industry tax compliance involves dealing with manual tasks prone to errors and audit risks. Tasks such as calculating tax rates and filing accurate returns demand meticulous attention, and any misstep can result in compliance issues, financial consequences, and intensive audits.
By integrating with Avalara for Hospitality, hotel businesses can access accurate real-time tax calculations, regularly updated tax content repositories, and comprehensive visibility into overall compliance through advanced reporting tools. Tedious tax returns preparation, filing, and remittance processes are automated using Avalara, reducing the risk of audits, effectively managing tax-related jurisdictional notices, and providing a centralized online portal for seamless compliance management with heightened transparency.
This integration signals a meaningful advancement in automating tax-related processes for hotel businesses, ensuring enhanced efficiency, reduced manual workload, and minimized risk of human error in tax compliance.
Actabl's Focus for 2024: Expanding Offerings with Current Customers
As part of Actabl's strategic vision for 2024, the partnership with Avalara aligns to expand offerings to current customers, providing them with comprehensive solutions to navigate the evolving landscape of the hospitality industry.
As Actabl and Avalara embark on this new partnership, they invite hotels to consider the integrated solution as a digital-first approach to automating and streamlining processes, boosting productivity and efficiency while cutting costs, thereby positioning hotel businesses for future growth.
About Actabl
Actabl is the leader in hospitality business intelligence, labor management, and hotel operations management software that provides actionable insights to above-property leaders and on-property leaders. Actabl brings together four powerful hospitality tech solutions to maximize profits for hotel operators. Actabl's integrated solutions include ProfitSword's business intelligence technology, Hotel Effectiveness' complete labor optimization, ALICE's hotel operations management platform, and Transcendent's advanced asset management and CapEx. With a global team of 300+ employees boasting over 1,000 years of combined hospitality experience, Actabl serves the technology needs of more than 12,000 properties in hospitality markets around the world. To learn more, please visit www.actabl.com.
About Avalara
Avalara makes tax compliance faster, easier, more accurate, and more reliable for 30,000+ business and government customers in over 75 countries. Tax compliance automation software solutions from Avalara leverage 1,200+ signed partner integrations across leading ecommerce, ERP, and other billing systems to power tax calculations, document management, tax return filing, and tax content access. Visit avalara.com to improve your compliance journey.
SOURCE Actabl
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