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Avalara, Inc. for Hospitality Helps Lodging Businesses Manage Tax Compliance

07/29/2021 | 04:50am EDT

Avalara, Inc. announced the availability of Avalara for Hospitality, a solution for hotel chains, resorts, online travel agencies, property management groups, and short-term rental operators that automates the most onerous and time-consuming aspects of tax compliance, including calculation and filing of sales and lodging tax returns. Address compulsory hospitality compliance obligations with AvalaraAvalara for Hospitality provides the following benefits to businesses: Improve compliance. Maintaining accurate tax rates and rules is a labor-intensive process, whether a business is managing a single property or a chain of hotels. Getting rates wrong or not understanding total obligations can result in overpaying or underpaying taxes. Tax experts at Avalara track lodging and related tax rates at the city, county, and state level, and Avalara for Hospitality automates these tax calculations. Avalara also helps determine which taxes are owed and remits user funds to the jurisdiction on a regular cadence, facilitating compliance. Streamline reporting. Manually consolidating data to determine tax obligations for online travel agencies, property management groups, and hotel chains via their back-end systems is a time-consuming process, prone to human error. Avalara for Hospitality can integrate with user existing hospitality marketplace, ERP, PMS, point-of-sale, or accounting platforms, delivering consistent rates and reporting across sales channels and internal systems. Improve process efficiency. Preparing, filing, and remitting reports for city, county, and state jurisdictions requires significant manual effort, with even greater complexity if a business is operating properties in multiple jurisdictions or renting through multiple channels. Customers can offload returns preparation, filing, and remitting to Avalara. Avalara for Hospitality also allows businesses to write a single remittance check, and Avalara distributes the funds based on what is owed to each jurisdiction, helping to reduce costs and increase efficiency and compliance. Reduce audit risk, improve customer experience. Streamline processes to create a simple, reliable booking experience that includes tax rates to show exact charges up front. In addition, improve pricing transparency while mitigating audit risk. Avalara integrates with booking platforms to provide a consistent rate, no matter how user customers make their reservation.

ę S&P Capital IQ 2021
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Analyst Recommendations on AVALARA, INC.
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Financials (USD)
Sales 2021 666 M - -
Net income 2021 -16,0 M - -
Net cash 2021 452 M - -
P/E ratio 2021 -
Yield 2021 -
Capitalization 16 039 M 16 039 M -
EV / Sales 2021 23,4x
EV / Sales 2022 18,8x
Nbr of Employees 3 351
Free-Float 98,0%
Duration : Period :
Avalara, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends AVALARA, INC.
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 13
Last Close Price 185,82 $
Average target price 205,83 $
Spread / Average Target 10,8%
EPS Revisions
Managers and Directors
Scott M. McFarlane Chairman & Chief Executive Officer
Amit Mathradas President & Chief Operating Officer
Ross Tennenbaum Chief Financial Officer & Treasurer
Daniel Fields Chief Technology Officer & Executive VP
Liz Armbruester Senior Vice President-Global Compliance
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