Avalara, headquartered in Seattle, is a global innovator in tax compliance automation for businesses of varying sizes. Today, Avalara disclosed the integration of its trailblazing plugin with ChatGPT, a first of its kind endeavour by a tax compliance software provider.
The rationale for the development of this new product stems from the commitment Avalara has to simplifying tax compliance for businesses. It aims to constantly apply innovative technologies to ease the journey of tax compliance from start to finish.
Primarily, Avalara serves businesses by providing cloud-based tax compliance solutions. These solutions, available for a range of transaction taxes, including sales and use, VAT, GST, excise, communications, lodging, and other indirect tax types, are offered in partnership with leading ERP, accounting, ecommerce, and other financial management system providers.
The new ChatGPT plugin by Avalara provides the functionality of a sales tax calculator, enabling users to ask the platform to calculate and provide information on sales tax rates according to their location. It simplifies the process of finding out accurate sales tax for any transaction.
With a ChatGPT Plus account, businesses and consumers can easily install the Avalara plugin from ChatGPT’s plugin store. Users can inquire about sales tax rates or calculate tax for a specific sale based on their location, with ChatGPT deciding when to utilise the plugin according to the question and conversation. Furthermore, users can enter additional prompts or request more tax rates or calculations.
Committed to OpenAI’s ethos of safe and responsible AI development, Avalara plans a phased rollout of the plugin, starting with US-based ChatGPT Plus subscribers. As time progresses, the plugin will become available to users in other regions.
This initiative exemplifies Avalara’s ongoing efforts to leverage AI in managing tax content, enhancing its products, and aiding its customers. This follows the launch of an AI-driven tax classification tool in 2020, and the preview of e-invoicing and returns APIs in 2022.
Avalara’s SVP of Content Engineering Vsu Subramanian said, “By leveraging generative AI and launching our plugin for ChatGPT, we continue to blaze trails for tax automation and have created another way to get sales tax information.
“And we are just getting started with generative AI. Avalara is uniquely positioned with our industry-leading tax compliance platform and comprehensive database of tax rates, rules, and answers to help businesses determine the right rate on transactions.”
Keep up with all the latest FinTech news here
Copyright © 2023 FinTech Global