How they describe themselves: DAVO was created to solve the pain points associated with the payor/payee relationship. Whether it’s a small to mid-sized merchant looking to optimize their sales tax payment method, a state government looking to collect sales tax securely, or a franchisor looking to streamline the collection of franchise royalty and advertising fees, DAVO has the solution. Our process is passive, seamless, and automatic. We optimize any recurring payment cycle of 30, 60, or 90 days (etc.) and reduce that to 24 hours, compressing time.
How they describe their product/innovation: DAVO Sales Tax is the automated sales tax solution for small to mid-sized merchants. DAVO’s patented process automatically and passively collects, files, and pays sales tax for a merchant utilizing the ACH and card payments networks. This unique process integrates with a merchant’s POS and backend accounting packages, setting aside the total sales tax collected daily, holding it safe and secure. DAVO’s goal is to do for sales tax what ADP and Paychex did for payroll.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms