ION Commodities, a global provider of energy and commodity trading and risk management solutions, has announced a strategic partnership with Avalara, a leading cloud-based tax compliance automation provider.
This collaboration aims to simplify tax compliance for energy trading firms by integrating Avalara’s AvaTax for Energy solution into ION’s commodity management platforms.
Energy market tax compliance is a complex challenge, requiring businesses to navigate ever-changing tax rates and regulatory requirements across multiple jurisdictions. Through this partnership, ION and Avalara seek to mitigate financial risks by reducing errors in tax calculations, improving accuracy, and automating compliance processes. This integration will help businesses avoid penalties, minimise audit risks, and enhance operational efficiency.
ION Commodities delivers data-driven solutions that support energy and commodities trading and risk management solutions across the supply chain. Its ETRM and CTRM platforms provide real-time risk analytics, automate critical workflows, and offer full visibility into procurement, supply, and trading activities. The company serves over 1,200 clients worldwide.
Steve Lacoff, vice president and general manager at Avalara, emphasised the importance of this partnership, stating, “Tax compliance is one of the most onerous factors impacting energy and commodities enterprises, and their ability to scale and operate efficiently. Our partnership with ION gives mutual customers in these sectors a greatly simplified path to compliance automation, with reduced compliance risk, and greater operational efficiency.”
Sunil Biswas, chief executive officer at ION Corporates, added, “Collaborating with Avalara aligns with our mission to deliver comprehensive, integrated solutions for the energy and commodities industry. This partnership enhances our offering with advanced tax compliance capabilities, empowering our community to navigate the complexities of tax regulations with confidence.”
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