Avalara, Inc.: Avalara Closes Acquisition of INPOSIA
Avalara, Inc. (NYSE: AVLR), a leading provider of tax compliance automation for businesses of all sizes, today announced the closing of the acquisition of INPOSIA Solutions GmbH. INPOSIA is a German software company that delivers e-invoicing, digital tax reporting, and system and data integration to support digital transformation efforts and address real-time compliance requirements for businesses.
The proliferation of real-time compliance requirements from tax authorities around the world arose from the need for financial transparency and fraud reduction. More than 60 countries rely on or have announced the intent to move to an e-invoicing system for compliance, whereby businesses must validate transactions with governments. Exact requirements differ between countries and vary based on timeliness of reporting, types of invoices that need to be filed, value thresholds for reporting, and formatting. Businesses rely on technology to simplify processes along the procurement supply chain and automate the final steps of data and fiscal reporting to tax authorities.