When your company business model is directly tied to taxation, and more specifically, complicated tax codes for niche vertical markets, you are pretty much guaranteed success. That has certainly been the case for BillSoft, Inc., a company that specializes in tax calculation products and services that enable business optimization.
TMC CEO Rich Tehrani had an opportunity to catch up with BillSoft CEO Tim Lopatofsky at ITEXPO Las Vegas earlier this month to discuss the company’s phenomenal growth rates and achievements. According to Lopatofsky, sales are up 17 percent this year thanks to the company’s compliance business, which is up by a whopping 34 percent.
“We certainly saw that there were some problems in the industry and like any good business, we solved a difficult problem,” he said of the BillSoft business model. That problem is the tax code for niche vertical markets and the compliance and regulatory headaches that come along with it. BillSoft has a track record of calculating taxes on telecom and VoIP services, but the company also handles a variety of other markets, operating in the U.S. and 100 additional countries.
Earlier this month, BillSoft announced modifications to its BillSoft Disaster Recovery system, enabling live data replication tools along with automatic failover. The company also set up a class 5 underground facility as the primary data center to house its customers’ data.
The company’s software may be accessed through the cloud, batch processes or APIs. BillSoft has also been recently focused on its EZGeo geospatial product, through which an individual or company address may be converted into latitude and longitude values to determine the proper taxing authority or district.
Ultimately, calculating taxes is what BillSoft does best and they are certainly experts at that. “We take a very difficult problem that’s hard to do and solve it for you,” said Lopatofsky. The company also performs regulatory filing for telecom services and offers consulting services.
BillSoft continuously updates and improves its EasyFile product, and the company ensures its massive amounts of taxation data are kept current, passing along peace of mind and value to its customers.
Edited by Maurice Nagle