JAGGAER Releases New RateManager to Enable Customer Control of Global Tax Rate Management
RESEARCH TRIANGLE PARK, NC – July 19, 2018 – JAGGAER, the world’s largest independent spend management company, today announces RateManager: new features enabling management of dynamic tax codes and rates, to be released in the forthcoming JAGGAER 18.2: Jaguar update, within JAGGAER’s Procure-To-Pay suite. The first phase of this program is developed around the needs of Canadian and U.S. customers. RateManager will allow these customers to attain the same level of tax estimate functionality provided by third-party Sales and Use Tax calculation engines.
RateManager was developed in conjunction with several Canadian organizations in the commercial and higher education space to solve the complex challenges posed by tax accounting. Phase II of this program will expand the capabilities to International customers, and is scheduled to be released in a future update.
RateManager is a configurable option that allows JAGGAER spend management customers to specify tax rates and codes based on their range tax considerations, including GST, HST and Use Tax among others. The tax configuration can be set to apply to transactions based on business rules, or manually. By capturing the correct tax amounts during the checkout process, and having it flow through the entire buying process, users can now more accurately encumber/accrue funds in their financial systems, saving time and energy. An added benefit is the ability to compare customer tax calculations to supplier invoices, which can be flagged for review on discrepancies to ensure the payment is accurate.
“JAGGAER developed this functionality for any business that manages complex tax situations, beginning with the Canadian and U.S. markets. Tax rates in most countries are slow to change, however they are dynamic and usually involve the investment in an outside resource. Our solution keeps everything on our spend management platform. This is another JAGGAER digital transformation tool that creates efficiency and helps procurement departments become profit centers,” says Rob Bonavito, CEO, JAGGAER.
About JAGGAER: Global Indirect and Direct Spend Management Solutions
JAGGAER is the world’s largest independent spend management company, with over 1,850 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East. JAGGAER offers complete SaaS based indirect and direct eProcurement solutions with advanced spend analytics, complex sourcing, supplier management, contract lifecycle management, savings tracking, and intelligent workflow capabilities. We have pioneered spend solutions for over two decades and continue to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world’s largest education, manufacturing, health care, retail, consumer package goods, logistics, construction, utilities companies and public service organizations. Additionally, JAGGAER holds 38 patents–more than any other spend management company. www.JAGGAER.com.
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