Moneycontrol News
Avalara, a provider of tax compliance automation software for businesses, announced that it has acquired Indix’s AI technology and expertise. Avalara believes it will offer accurate, up-to-date and comprehensive source of global tax and product content when it combines the Indix AI technology.
Avalara intends to use the Indix AI to maintain and expand its massive tax content database. Maintaining tax content and global product information is difficult and resource-intensive, requiring specialized technology, expertise, and human resources.
“Avalara and Indix share a similar global vision,” said Sanjay Parthasarathy, CEO of Indix. “From day one, we built Indix to collect, organize, and structure the world’s product information using artificial intelligence. With the addition of the Indix expertise, Avalara will be able to efficiently and rapidly refine its content to meet the expanding and evolving needs of its customers.”
At present, collecting new content and tracking changes can be a highly manual process. By applying Indix’s AI to this problem, Avalara believes it will be able to automate the aggregation and accurate maintenance of its tax content.
“Global taxing authorities govern compliance through ever-changing rules and requirements, and the task of gathering and maintaining this data is core to the value Avalara provides,” said Scott McFarlane, co-founder, and CEO of Avalara. “We believe the combination of deep product knowledge, broad product content, and artificial intelligence technology will allow us to provide our customers the information they want and need to factor compliance into their business decision-making, and for Avalara to address more compliance requirements to support their growth.”
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
