The Consumer Marketplace and Retailers’ Shifting Accounting Needs

The retail landscape is shifting … fast.

Customers are driven by the need for instant gratification more than ever, expecting boundless product options at their fingertips and 24-hour (or less) delivery models. To compete with bellwethers like Amazon.com and even Google, companies are exchanging traditional distribution strategies for something more flexible, focusing less on labor and production and more on inventory and proximity to consumer marketplaces. Retailers and distributors, however, cannot make these adjustments in isolation. In order to successfully transform their sales and operations, organizations must modify their back-office tax and accounting practices accordingly.