Ryan, a leading global tax services and software provider, has announced the launch of Ryan TaxPay, a single, secure platform to facilitate the automation of all global tax payments.
Designed for companies that need to make regular payments to one or multiple foreign tax authorities to meet a variety of tax payment obligations, Ryan TaxPay is an online platform that fully manages the payment calendar, including the conversion of source funds to each required local currency, payment to each tax authority recipient, and submission of any required tax payment references. As part of the offering, clients have access to the Ryan service team to provide proactive support and assistance.
The automation of tax payments can bring considerable cost benefits. By simply uploading one amount onto the platform, it is estimated that users of Ryan TaxPay can achieve at least a 25% reduction in foreign exchange rates compared to standard bank rates. It also establishes a clear audit trail and enables users to centralise management and oversight of payments.
The platform has been developed in partnership with tax technology provider Desucla and forms part of Ryan’s long-term strategy to bring to market a range of tax payment solutions suitable for clients of all sizes and their individual needs.
“Improving the efficiency and effectiveness of our clients’ people, processes, data, and systems to transform their tax function into a best practice environment continues to be our main focus,” said Jon C. Sweet, Ryan President of European and Asia-Pacific Operations. “Ryan has always taken an innovative approach to developing solutions to meet the needs of our clients worldwide. With tax authorities increasingly demanding more regular payments of a wider range of taxes, the launch of Ryan TaxPay will be particularly valuable to our global clients needing a new way to meet their tax payment obligations.”
“Payment of taxes in foreign territories is an inevitable requirement for global businesses. We have been working with our clients to understand the associated challenges and come up with new, innovative solutions to them,” said Andrew Burman, Ryan Principal, Tax Transformation. “We strongly believe that Ryan TaxPay and our partnership with Desucla can help make the entire process more efficient by transforming how these obligations can be managed, cutting through complexity, and saving exchange rate costs and time via a single global tax payment solution that is fully managed, automated, transparent, and scalable.”
“We are excited to be partnering and collaborating with the world’s leading tax firm to bring this transformational offering to the market,” said Richard Baxter, Founder and CEO, Desucla. “Combining Ryan’s transformation expertise with Desucla’s technology and infrastructure, enables us to provide our partners with an end-to-end service through our Global Tax Agency Support Services proposition, including simplified tax payments for many clients around the world.”