The Make or Buy Dilemma in Compliance
Accounting firms, whether small local practices or global enterprises, constantly face the challenge of addressing new tax and compliance regulations. The introduction of DAC7 in the EU has created significant pressure, requiring platforms to collect, verify, and report seller information, such as tax IDs and earnings, with strict accuracy. The penalties for non-compliance are steep, ranging into millions of euros.
In response, accounting firms must decide whether to build their own compliance solutions or partner with a specialised provider. The “make” option often seems appealing at first but is fraught with challenges:
• Cost Intensity: Developing in-house systems requires major investments in technology, infrastructure, and skilled personnel.
• Complexity: Navigating jurisdiction-specific regulations and maintaining compliance as they evolve can overwhelm internal resources.
• Time Constraints: Developing a solution from scratch delays the firm’s ability to offer timely services to clients, risking a competitive disadvantage.
• Lack of Scalability: Custom solutions may struggle to handle increasing data volumes or adapt to new regulations.
Why SUPPLIED is the Ideal White-Label Solution
SUPPLIED provides accounting firms with an all-in-one, white-label platform tailored to meet the demands of DAC7 compliance. It eliminates the complexities of building and maintaining an in-house solution, offering a seamless and scalable alternative.
Here’s why SUPPLIED stands out:
1. Comprehensive Compliance Features:
- SUPPLIED handles every step of the DAC7 compliance process—from onboarding and data verification to tax reporting and submissions.
- Its automated processes ensure audit-proof compliance, reducing the risk of costly errors.
2. Cost-Effective and Time-Saving:
- With SUPPLIED, accounting firms can cut compliance costs by up to 75% and speed up verification processes by 80%.
- This allows firms to focus on client services rather than administrative overhead.
3. Perfect Fit for All Firm Sizes:
- For Small Firms: SUPPLIED provides easy-to-implement solutions, including white-labeled apps, enabling smaller practices to compete with larger firms.
- For Large Firms: SUPPLIED integrates seamlessly into existing CRMs and ERPs, making it scalable for firms serving multinational clients.
4. White-Label Customization:
- SUPPLIED can be fully branded to match the accounting firm’s identity, enhancing credibility and maintaining a seamless client experience.
5. Proven Expertise and Reliability:
- SUPPLIED brings deep regulatory knowledge, ensuring compliance in all DAC7 jurisdictions. With DAC8 and other regulations on the horizon, SUPPLIED’s roadmap ensures future readiness.
The Benefits of SUPPLIED for Clients
Accounting firms that adopt SUPPLIED not only gain a competitive edge but also deliver tangible benefits to their clients:
- Streamlined Onboarding: SUPPLIED’s automated processes simplify seller data collection and verification, reducing errors and improving efficiency.
- Reduced Risks: By ensuring compliance with DAC7, firms protect their clients from potential penalties and reputational damage.
- Enhanced Client Trust: A professional, branded platform powered by SUPPLIED instils confidence in the firm’s ability to handle complex regulatory challenges.
Conclusion: SUPPLIED is the Partner Accounting Firms Need
SUPPLIED offers accounting firms a ready-made, scalable solution to meet the demands of DAC7 compliance. By opting for SUPPLIED, firms can sidestep the challenges of building their own systems, saving time and resources while delivering superior services to their clients.
Whether you’re a small local practice or a global firm serving diverse clients, SUPPLIED equips you to handle compliance with ease and efficiency. Don’t let DAC7 complexities slow you down—partner with SUPPLIED today and focus on what you do best: serving your clients.
