MINNEAPOLIS, Sept. 27, 2011 /PRNewswire/ -- Convey Compliance Systems has entered into two new relationships to expand availability of its tax information reporting solutions to transportation and payment solutions markets.
Convey is excited to be working with Comdata, a leader in electronic payment innovation, and ControlScan, which offers compliance solutions to the Payment Card Industry (PCI), because of their unique positions in their respective markets. The partnerships will introduce Convey's tax information reporting solutions to businesses that have been asking for more help with their tax reporting obligations.
Troy Thibodeau, Executive Vice President at Convey, sees great potential in opening up Convey to two new industries facing a maze of tax reporting regulations: "Through our new partner relationships, more businesses will now be able to save time and money through automating information reporting compliance activities," he said. "These businesses will be able to rest assured they are prepared to handle a constantly changing set of tax reporting regulatory changes with efficiency."
For ControlScan's clients, merchant acquirers, tax regulation requirements have become even more pressing in 2011. Starting this year, all those who handle card payment transfers must adhere to the IRS' "Section 6050W" code that requires that 3rd party settled payments to merchants be reported, significantly increasing the tax information reporting demands on acquirers.
"Our partnership with Convey, a 25 year old company with staff dedicated 100 percent to tax compliance and reporting, greatly reduces the impact of tax regulation on our acquirer customers," said Joan Herbig, CEO, ControlScan. "Paired with our guidance through PCI compliance and security issues, acquirers and the merchants they serve can focus more on business and services and less on the ever-changing and increasingly-demanding regulatory landscape."
Comdata will be referring business to Convey from the accounts payable departments of companies it serves within fleet, construction, retail, hospitality and other industries. "Comdata strives to help our customers maximize efficiency. Extending Convey's solutions for tax information reporting is another value-added benefit we are excited to offer," said Randy Morgan, executive vice president of sales and marketing for Comdata.
Convey provides tax information reporting services and software to businesses to make IRS compliance clear and uncomplicated. With Convey's flexible, scalable software and the guidance and focused experience of its service teams, Convey's clients – from small companies to nearly half of the Fortune 500 – can be assured that they're complying with IRS regulations and reporting financial transactions efficiently and correctly. Convey reduces risk, improves bottom lines, and provides the clearest path to compliance. For more information, visit www.convey.com.
About Comdata Corporation
Comdata Corporation is a leading business-to-business provider of innovative electronic payment solutions. As an issuer and a processor, the company provides fleet, corporate payment, virtual card, and prepaid solutions to over 30,000 customers. There are more than seven million Comdata Cards, enabling more than $31 billion in transactions annually. Comdata captures and reports detailed transaction data, giving customers unprecedented control over their expenses. Founded in 1969 and headquartered in Brentwood, Tennessee with more than 1,000 employees in the United States and Canada, Comdata is a wholly-owned subsidiary of Ceridian Corporation. For more information, visit www.comdata.com.
Headquartered in Atlanta, Georgia, ControlScan provides Payment Card Industry (PCI) compliance solutions that fit the specific needs of small- to medium-sized merchants. The company helps simplify PCI compliance and reduce risk for acquirers by achieving high PCI compliance rates for their merchants. As a market leader in PCI compliance, ControlScan offers its acquirer partners the unique benefits of an exclusive focus on servicing Level 4 merchants, programs that work based on the needs of each acquirer and a track record of success in achieving high PCI compliance rates. For more information about ControlScan and its solutions, visit www.controlscan.com.
SOURCE Convey Compliance Systems