Tax Compliance Simplified for Property Preservation Specialists Thanks to Verisk, Avalara Integration

Rhea-AI Summary

Verisk (Nasdaq:VRSK) has announced a new integration with Avalara to enhance tax compliance workflows for property preservation specialists. This collaboration allows users of Property Pres Wizard to calculate sales and use tax in real-time, improving efficiency and accuracy. Verisk’s Xactware is now Avalara Certified, ensuring reliable performance. The integration aims to reduce time spent on tax management, enabling customers to focus on business growth. More than 70% of the Fortune 100 use Verisk's advanced analytics for risk management and operational efficiency.

Positive

• Integration with Avalara enhances real-time sales tax calculation for Property Pres Wizard users.
• Avalara Certification ensures reliable performance and seamless experience for mutual customers.
• Time-saving on tax management allows clients to concentrate on business growth.

Negative

• None.

New Property Pres Wizard integration automates and enhances accuracy, efficiency of tax compliance workflows

LEHI, Utah, Aug. 23, 2021 (GLOBE NEWSWIRE) -- Verisk (Nasdaq:VRSK), a leading global provider of predictive analytics and decision-support solutions, and Avalara (NYSE: AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced an integration that can significantly streamline tax compliance workflows for property preservation specialists.

The integration with Avalara’s AvaTax solution allows property preservation professionals to calculate sales and use tax in real time within Property Pres Wizard, a robust work order management solution developed by Verisk’s Xactware business. With this enhanced capability, property preservation specialists will be able to calculate sales tax quickly, efficiently and more accurately.

"Managing sales tax can be an exceptionally time-consuming task,” Xactware President Mike Fulton said. “Verisk’s Xactware integration with Avalara is helping our customers spend less time managing tax compliance and more time focused on growing their businesses.”

Verisk is now Avalara Certified, which means the company meets or exceeds a series of criteria developed by Avalara to ensure the connector's performance and reliability, thereby helping mutual customers benefit from a seamless experience with Avalara's tax compliance solutions.

“Verisk understands the needs of its customers, and Property Pres Wizard helps reduce complexity for their customers in many ways,” said Greg Chapman, senior vice president of partner management at Avalara. “We understand that digitization of business processes is not an option, it is essential; we are proud to offer fast, accurate, and easy tax compliance solutions to our shared customers."

Xactware provides computer software solutions for professionals involved in estimating all phases of building and repair. Thanks to a longstanding commitment to invest in research and development, Xactware solutions are used by many of the top property insurance companies and repair contractors in the United States and Canada. 

To learn more, visit Verisk.com or Avalara.com.

About Verisk

Verisk (Nasdaq:VRSK) provides predictive analytics and decision support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook and YouTube.
 

About Avalara, Inc.

Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce, and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in Brazil, Europe, and India. More information at avalara.com.

FAQ

What is the significance of Verisk's integration with Avalara for tax compliance?

The integration automates tax compliance workflows, allowing property preservation specialists to calculate sales tax in real-time, which improves accuracy and efficiency.

When was the press release about Verisk and Avalara's integration published?

The press release was published on August 23, 2021.

How does the Avalara Certification benefit Verisk's Property Pres Wizard users?

The certification ensures performance reliability and offers a seamless experience with Avalara's tax compliance solutions.

What is Verisk's stock symbol?

Verisk's stock symbol is VRSK.

Which sectors does Verisk provide predictive analytics for?

Verisk provides predictive analytics for the insurance, energy, specialized markets, and financial services industries.