Hospitality software company Actabl has formed a partnership with Avalara Inc., a provider of cloud-based tax compliance automation for businesses of all sizes, to usher in a new era of efficiency, cost savings and empowerment within the hospitality industry through tax reporting and data management.
“Tax compliance is one of the most onerous factors impacting hotel management groups and their ability to operate and scale efficiently,” said Oliver Hoare, general manager of lodging at Avalara. Avalara’s partnership with Actabl allows hotel management groups to divert their aggregated data via ProfitSword to Avalara. It’s a win, win, win — an enhanced feature for Actabl, increased speed to market for Avalara, and it gives ProfitSword customers a vastly simplified route to automation.”
The partnership consolidates revenue and tax data from various business systems, streamlining tax compliance processes through automation. In the hotel industry, daily tax-related activities involve handling data from various sources, making it a labor-intensive and error-prone process. Actabl recognizes the need for automation, not just for cost savings but also to address the severe labor shortage in the hospitality sector. Hotel management companies can leverage ProfitSword’s data consolidation and send it to Avalara, automating their tax compliance and reconciliation processes.
“We recognize the challenges that hotel operators and hoteliers face, particularly regarding tax reconciliation and compliance,” said Actabl Chief Revenue Officer Jason Luo. “Our groundbreaking partnership aims to address our customers’ needs by providing a comprehensive, user-friendly platform for enterprise-wide monthly tax reconciliation and compliance filings and substantial time savings for our customers’ accounting and finance teams. We are pleased to add another valuable tool to drive value and operational excellence in the hospitality industry.”
The integration allows hotel businesses to compile data, automate tax return preparation and file returns using monthly transactional data. This groundbreaking partnership introduces technological innovations that streamline tax compliance, freeing up time and resources for hoteliers.
“Automating compliance has taken a load off my shoulders each month – I’m confident that property registrations are being completed properly and monthly reporting is prepared accurately and filed on time,” said Trisha Campbell, regional controller at Valor Hospitality Partners. “The integration with ProfitSword further streamlines the process by automating the flow of transactional data for recalculation and reporting by Avalara. The reconciliation has enabled us to make upstream adjustments for an increased level of compliance and reduced audit risk. With ongoing staffing issues, automation lets us effectively utilize existing personnel. Between the finance team and the on-property accountants, we’re saving about five to six days per month across our hotel portfolio, reducing risk and setting us up for scale without adding headcount.”
