Avalara floats new AI-infused solutions and products
The tax compliance automation software company has revealed an array of new AI-driven innovations to deliver a streamlined experience for customers.
Avalara, at its customer event CRUSH, announced the release of two AI-enhanced efficiencies and three new products built on the company’s AI governance model.
Avalara president Ross Tennenbaum said the business was focused on the continuous development of AI innovation.
“Avalara has deep roots in AI innovation, and for years has used next-generation technologies to develop intelligent tax tools that deliver value and delight to customers,” Tennenbaum said.
“Our CRUSH attendees are getting a full view of our new AI-infused products and features, in addition to hearing from our experts on Avalara’s expanding compliance automation toolset and deeper integrations with the ERP and e-commerce systems businesses rely on.”
“This further demonstrates how we empower customers to confidently automate tax compliance, operate more efficiently, mitigate risk associated with tax complexity and focus on core business building activities.”
The newly released AI efficiencies included a generative AI chatbot set to provide conversational support to customers and partners to help them find answers and resolve issues faster.
Avalara said it wanted the chatbot to support ease of use for users while minimising errors, expanding coverage of compliance areas and streamlining internal processes.
The second new efficiency included an automated tariff code classification described as a solution that used a pioneering combination of proprietary, advanced AI, machine learning and natural language processing methods and technologies.
The company noted the included features would classify large product catalogues quickly and efficiently to harmonised systems or tariff codes, which would help supply chain and logistics providers, e-retailers and global marketplaces calculate customs and duty taxes to comply with international shipment requirements in near-real time.
Aragon Research CEO and lead analyst, Jim Lundy, said AI development was crucial as it had the potential to redefine how businesses approached their tax compliance needs.
“The effective use of AI is beginning to transform the tax compliance landscape,” Lundy said.
“For instance, AI is highly effective at organising items into categories, and there are numerous categorisation tasks in corporate and other tax areas.”
“As global tax environments become more complex, intelligent tax platforms streamline manual processes and help ensure compliance.”
The CRUSH event also saw the announcement of three new products to enhance the customer experience.
The new products revealed were e-invoicing and live reporting, AvaTax for accounts payable, and expanded and simplified partner integrations.
Avalara said a suite of innovations accompanied the new products and would provide instant, actionable insights and enable users to quickly address their specific challenges.
“Avalara continues to build the largest global network for tax compliance, connecting businesses and governments through a fully automated platform continuously improving to deliver an intuitive user experience,” Tennenbaum said.
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