AI Technology Powered by Omnitracs One Platform to Provide Capabilities That Reinvent How Fleets Manage Tax Obligations
LAS VEGAS--(BUSINESS WIRE)--Omnitracs, LLC, the global pioneer of fleet management solutions to transportation and logistics companies, today announced the release of Omnitracs Tax Manager, their most comprehensive and intuitive International Fuel Tax Agreement (IFTA) and highway tax management tool to date. Omnitracs Tax Manager uses the latest in artificial intelligence from the Omnitracs One platform to provide an easier and more user-friendly tax management experience for the trucking industry.
Omnitracs Tax Manager creates the ability to take in mileage from a telematics device and fuel data then automatically file for all states and jurisdictions, streamlining the tax reporting process for fleets. To be efficient and competitive in the past, fleets had to move processes to the digital realm and introduce automation to complete tasks faster and with fewer errors. While these improvements were significant for their time, they created an influx of data to sift through and manage.
“Collecting and normalizing data from a variety of sources was the first big hurdle, but the bigger challenge was to figure out how to make it easier to find and sort missing or miss-matched data,” said Paul Nagy, Chief Product Officer at Omnitracs. “Even for fleets already using IFTA software, office teams were still spending large amounts of time reconciling the data which provided an opportunity for improvement.”
By utilizing the most sophisticated AI enabled machine learning technology to cross-reference driving history and fuel purchases, Omnitracs Tax Manager will automate and dramatically reduce the manual processing efforts while creating more efficiencies over time. To simplify the process even further, the software also features a new “guided” experience that walks customers step-by-step through their filing preparation.
The contiguous 48 US States and Canadian provinces use IFTA to ensure that fuel taxes go to the state or province where the proportional amount of driving occurred. Mileage taxes consist of an array of tax statutes that vary by state affecting any trucks traveling on public roads. The substantial number of tax laws and jurisdictions directly impacts all truck fleets of any size regardless if they cross state lines. The current list of available state mileage tax includes NY HUT, KY HUT, OR Weight-Mile Tax, and New Mexico Highway Tax.
Omnitracs Tax Manager will become available to fleets in March 2020.
To learn more about Omnitracs Tax Manager, please visit: https://www.omnitracs.com/products/omnitracs-tax-manager
About Omnitracs, LLC
Omnitracs, LLC is a global pioneer of trucking solutions for all business models. Omnitracs’ more than 1,100 employees deliver software-as-a-service-based solutions to help over 14,000 customers manage nearly 1,100,000 assets in more than 70 countries. The company pioneered the use of commercial vehicle telematics 35 years ago and serves today as a powerhouse of innovative, intuitive technologies. Omnitracs transforms the transportation industry through technology and insight, featuring best-in-class solutions for compliance, safety and security, productivity, telematics and tracking, transportation management (TMS), planning and delivery, data and analytics, and professional services.