Avalara Acquires UPC Matrix Master™
Posted by Terri Eyden on 0 926
Avalara, a leading provider of sales tax and compliance automation services in the Cloud, announced January 10, 2013, it has acquired UPC Matrix Master™, the database of universal product codes with specialized sales taxability data.
Formerly provided by Tax Matrix LLC, which will continue operating, Matrix Master is a patented, multistate, product taxability database that maintains taxability information for more than ten million products in thousands of tax jurisdictions across the United States. The service is widely used by top storefront and e-commerce retailers throughout North America.
This purchase, combined with tens of thousands of recently acquired, fully researched and maintained product tax codes from leading industry partners, along with its own content library, accelerates Avalara's drive to become the leader in sales tax content. As a result of these acquisitions, Avalara's team of more than fifty sales tax and research professionals is now among the largest in the industry.
"Until recently, Avalara was primarily known as a technology company that revolutionized and came to dominate the sales tax industry with our Cloud-based service model," said CEO Scott McFarlane. "Now we also lead the way with our sales tax content, which means we can touch more businesses in more industries with higher levels of accuracy than anyone. This is a big win for our current and future customers, who will see even better levels of ease and accuracy from our service."
Tax Matrix CEO Mike Espenshade echoes this confidence. "Ultimately, we felt partnering with Avalara provided the best platform to leverage our content and capabilities. In doing so, our treasured customers and employees will be best positioned given Avalara's dynamic, innovative approach and their evolving role as the leader in automated sales tax compliance," Espenshade said.
"The vast number of codes encompassed by Matrix Master, all linked to fully researched taxability data, is by far the most extensive library of its kind in the world and clearly puts Avalara at the head of the class in this area," McFarlane continued. "Our end goal, however, is even higher. We are establishing a new standard for breadth and depth of sales tax content domestically and internationally.
"Well-researched and maintained content is the lynchpin for any accurate tax decision," McFarlane concluded. "People tend to focus on rates, but it takes extensive research and expertise to gather all those underlying rules and regulations and stay on top of them over time. That's the value we are constantly working to expand and deliver to our customers."
Voice of the Editor
Even though any accounting auditor would tell you it seems like there are an awful lot of tax accountants out there, surely one-third of the country isn't made up of tax preparers, so it's rather startling news to learn that one-third of Americans like to do their taxes. Who knew?