Financial Technology

Financial Technology

February 05, 2014

BillSoft Bags Prestigious Internet Telephony Magazine Awards

It’s that time of the year where people and businesses are scrambling to submit their taxation to the IRS. This is when individuals and businesses turn to tax products to accurately calculate their returns. This year, indirect taxation just got easier with BillSoft (News - Alert)'s new taxation products – EZTax and EZGeo. Both these products have bagged the Product of the Year Award from the Internet Telephony Magazine (News - Alert).

Many small businesses tend to get busy with collecting amounts, calculating taxes and submitting the appropriate forms to the IRS in a timely manner.  This can be a time-consuming and labor-intensive work that can use the time of valuable resources for a task that does not add any productivity towards the company's growth. To eliminate this wastage of time and resources, BillSoft's EZTax automates the process and even offers a high degree of accuracy with respect to tax research and processing. It has the capability to calculate taxes for more than 85 countries around the world and its database contains the logic and data needed to calculate the tax on any kind of transaction. It also calculates the crucial and time-consuming taxes that have to be remitted and not passed on. By doing this, a lot of time and effort is saved for the company. Further, it can calculate taxes for the past or even future periods with a high degree of accuracy. The best part is that this software can be integrated with the existing billing system of the business, thereby eliminating the problems that come with legacy systems.

A related product is EZGeo that helps businesses to integrate the order with the billing address of the customer by validating the address of every customer using geocoding technology. This geospatial product ensures that customers are taxed in the appropriate jurisdiction of the country. This product has also received the CST Database Certification from the Florida Department of Revenue.

Both these products are expected to make it easier for businesses to file their taxes this year. 

Edited by Ryan Sartor

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