The filing season can be very stressful for businesses. It can be strenuous if the internal identity validation protocols are not optimized for the efficient functioning of the business ecosystem.
Solutions, such as real-time TIN Match from Compliancely have been designed to help businesses optimize their TIN matching operations through the efficient real-time TIN match system.
But how exactly does Compliancely’s TIN match system function? And in what ways does Compliancely’s real-time TIN Match system enable your ecosystem to function with efficiency?
The following will discuss such interesting themes in detail.
What is Compliancely’s TIN Match system?
Compliancely is a real-time identity check powerhouse authorized by the IRS. Our real-time TIN Match system enables businesses to validate and verify the taxpayer-identification numbers in bulk. You can check as many as 100,000+ TINs in a minute and get real-time, accurate results in 30 seconds or less.
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How can you check vendor/payee TINs with Compliancely’s TIN Matching system?
Businesses can import their payee TIN data to Compliancely and have our team replicate the regulatory data per the pre-defined, ready-to-use Excel template. This bulk data is processed by our powerful platform to check the IRS database.
Compliancely checks the TIN/name combination of your payees per the real-time records of the IRS. With bulk TIN checks, businesses can check their payee data and validate the TIN/name combinations in less than a minute.
Compliancely further ascertains in accelerating the process by generating a report of the data checked. This data will further help businesses categorize the payees that provided incorrect/invalid TIN information.
What is the mechanism of Compliancely’s TIN Matching?
Compliancely’s real-time TIN match system takes in the legal name and taxpayer identification number provided and checks the data per the official records of the IRS. Since the data is checked directly against the IRS database, you get accurate TIN match results.
If the TIN/name combination matches the IRS records, it’s a TIN match.
Compliancely takes this check a step ahead by re-screening your data periodically as and when the IRS updates its database. This helps businesses retain official and real-time information, leaving no room for historic or outdated TIN match results.
How does Compliancely’s real-time TIN Matching help your business?
Businesses heavily depend on their accounting teams for verifying the bulk TIN data. While accounting teams rely on the standardized TIN match program offered by the IRS, the regulated period for turnaround and the limitations on the volume of checks delays the process.
Further, manual TIN checks, during timeline-sensitive ecosystems, could lead to unnecessary stress on internal teams and repetitive efforts.
Compliancely takes away the stress of meeting the deadlines, reduces manual workload, and expedites the TIN check process.
How does Compliancely’s real-time TIN Match system optimize your identity check ops?
Compliancely’s TIN match system helps optimize your processes and improves efficiency in the following ways
- Validates TINs in real-time
- Accelerates profile approval
- Streamlines KYC process
- Faster TIN Match turnaround
- Improves TIN Match accuracy
- Bulk TIN Checks
- Automated TIN Validation
- Automatic TIN Search Report
And so many other ways
Alternatively, businesses can accelerate bulk TIN matching by incorporating the perks of TIN Match API, a convenient way of validating the TIN/name information in bulk through an automated process.
All you have to do is provide the TIN and legal name data to Compliancely and we will take it from there.