February 24, 2004
FOR IMMEDIATE RELEASE
Ryan & Company and TSC Develop Advanced U.S. Multistate Use Tax Decision Automation Software Solution for SAP Users.
Las Vegas, Nevada - Ryan & Company, America's largest independent
provider of state and local tax services, and Technology Solutions Company
(TSC), a certified SAP implementation partner, today announced the availability
of TaxDecisionERP™, a jointly developed automation software solution
for SAP that adds key use tax calculation functionality to standard SAP-Vertex®
or SAP-Taxware® applications. TaxDecisionERP addresses problems associated
with incorrect use tax calculations resulting in overpayments and penalties.
Ryan & Company and TSC will be unveiling the product at the SAP Financials
Conference at the Bellagio Hotel in Las Vegas, February 23 - 25. During
the conference, they will be presenting an educational session on Integrated
Tax Solutions, which will provide insight on common use tax issues as well
as process and technology improvements that can improve compliance and reduce
costs.
For 13 years, Ryan & Company has helped organizations recover millions of
dollars by implementing effective use tax management practices. TaxDecisionERP
automates those best practices and leverages the inherent value of SAP's
technology to maximize its functional strengths. "By combining TSC's SAP
technology expertise and Ryan & Company's use tax domain knowledge, we have
developed a solution for SAP customers that extends their existing technology
to capitalize on use tax savings opportunities," stated David Wasson, TSC
Senior Vice President.
Best Practice Use Tax Management Saves Money & Eliminates Errors
"With TaxDecisionERP, we will have the tools to automate the complex
variables in use tax calculations and improve the accuracy of our tax compliance,"
said Walt Stone, Solvay America's Tax Director. Solvay America is the U.S.
holding company of the North American operations of the Solvay Group, an
international chemicals and pharmaceuticals manufacturer. Solvay America
will be using TaxDecisionERP to improve the way it manages use tax
activities, increase efficiencies in compliance, and enhance cash flow.
TaxDecisionERP provides SAP users with a better solution for use
tax management and compliance, by automating complex, labor-intensive calculation
functions, resulting in benefits that include:
- Reducing tax overpayments and penalties and interest from underpayment
- Improving cash flow by paying tax on actual use rather than at invoice payment
- Eliminating manual labor hours spent calculating, correcting, and reconciling use tax
- Enhancing audit and trace ability tools for Sarbanes-Oxley documentation, monitoring, and controls
- Creating purchase orders with correct product codes to accurately determine use tax
- Generating real-time calculations as goods are issued and services are delivered
Tax Recovery Combined With On-Going Automation Yields ROI
"TaxDecisionERP represents one half of the use tax equation," says Ryan
& Company CEO, G. Brint Ryan. "Leveraging our use tax knowledge, we first
help our clients recover previous overpayments based on inadequate use tax
management. Once the appropriate processes are established, TaxDecisionERP
helps to sustain the best practices and provide for effective use tax management
in the future."
To provide maximum benefit to clients pursuing use tax improvements, Ryan
& Company provides integrated services that include:
- Feasibility studies to assess opportunity for tax recovery
- Troubleshooting services to determine the cause of tax calculation
or reporting errors and to assist in developing and implementing appropriate
solutions
- Evaluation services to review the business and system processes, provide
a quantitative measure of the accuracy of the system, and make recommendations
for system or process improvements
- Implementation services to aid in planning, developing business requirements,
conducting system analysis, installing tax software for sales, use,
and telecommunications calculations, system configuration, testing,
and post-implementation support
About Ryan & Company
Ryan & Company is America's largest independent state and local tax consulting
firm. Headquartered in Dallas, Texas, the firm provides a comprehensive
range of state and local tax services on a multistate basis, including audit
defense, tax recovery, tax decision automation, dispute resolution, and
strategic planning. With more than 325 professionals and associates in 14
locations throughout the United States, Ryan & Company serves many of the
world's most prominent Fortune 1000 companies.
About TSC
Delivering business benefits through the application of information technology,
Technology Solutions Company (TSC) is a consulting company that focuses
on rapid results. TSC helps clients select, install, upgrade and optimize
the software systems that run their business operations. We focus on manufacturing
and distribution, supply chain, financial, human resources, and customer
service systems. Our range of services include project planning, software
selection, reengineering, implementation, upgrades, training, and outsourcing,
with specialized expertise in Product Configuration solutions, Forensic
Technology consulting and Project Turn-Arounds. Headquartered in Chicago,
TSC has worked with more than 800 clients worldwide, including the majority
of the Fortune 100. For more information, please visit
www.techsol.com.
PRESS INFORMATION CONTACT:
G. Brint Ryan
Ryan & Company, Inc.
972.934.0022
brint.ryan@ryanco.com
George Huhta
Technology Solutions Company (TSC)
312.228.4760
email:
george_huhta@techsol.com
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