strategic, alliance, tax
New strategic alliance allows for comprehensive F&A solution
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Outsource Partners International (OPI), the industry's largest service provider focused solely on finance and accounting outsourcing, and Salis, Inc., a leading state and local tax management services firm focused on sales tax, use tax, and exemption certificate management, announce the formation of a strategic alliance.
The addition of sales and use tax management to traditional finance and accounting outsourcing will allow this alliance to deliver a comprehensive and flexible solution set that meets the needs of client companies.According to Kishore Mirchandani, President of OPI, the alliance fills a critical gap in the market, particularly among Fortune 1000 companies. "We have seen that many firms continue to take a 'siloed' approach - even if they outsource finance and accounting processes like accounts payable, accounts receivable, and billing, they often keep sales and use tax management in-house. Given the fundamental relationship between sales and use tax and transactional finance processes, this often results in compliance gaps. We are extremely pleased to be teaming with Salis. Their deep expertise, track record, and service model for managing sales and use taxes will allow us to deliver a truly comprehensive approach, addressing complex scenarios well beyond transaction processing. Ultimately, this will help our clients reduce compliance gaps, minimize exposure, and maximize efficiency."
David Fromal, President and CEO of Salis, sees the alliance delivering a wide range of benefits to clients. "Taxability cuts across all aspects of finance and accounting. Through our alliance with OPI, clients will have the ability to secure a truly holistic suite of sales and use tax services. They can now outsource all finance and accounting processes with confidence, so they can focus on more strategic issues. We will deliver this comprehensive solution through our combined best practice workflows and methodologies, providing measurable cost savings, increased service levels, and mitigated risks. We couldn't think of a better partner for this initiative than OPI."
The end-to-end service delivered by OPI and Salis will give clients a cost-effective solution to address all phases of their purchases and sales - including tax determination; exemption certificate administration and management; use tax accruals; and sales and use tax returns preparation, filing, and remittance. Added Mr. Mirchandani, "With more and more enterprises viewing outsourcing as a best practice, we see this alliance as the optimum way for them to outsource finance and accounting functions to a single provider."
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