The sales tax software is being increasingly used in businesses including shipping, contracts, products and accounting. Integration of technology in sales tax management of the business assists in reducing the time effort. The sales tax management process generally involves includes calculation, filing, and reporting with an aim to fulfill all the tax obligations. In addition, advent of technology automation results in significant reduction of average cost for small and medium sized organizations. Automation of sales tax management is pushing the organizations to enhance their operational efficiency and overall profit. For instance, SOVOS introduced an automated government certified sales tax software, Taxify, which provides real time tax rates, and is a print ready platform. The sales tax software is equipped with self-service portal that provides easy procedure of filing the taxes. Thus, such factors are expected to enhance the growth of global sales tax software market during the forecast period.

The major market participants in the global sales tax software market are heavily investing to integrate the enhanced technologies, such as artificial intelligence (AI), robotics, machine learning, and bots in their existing offerings with an aim to transform the tax compliance structure. Moreover, tax software solutions providers are strengthening their regional as well as global footprints and offerings by acquiring AI technology to deliver better tax compliance solutions. For instance, In Feb 2019, Avalara, Inc. announced the acquisition of Indix IP AI technology in order to provide AI based solutions to its customers. Through this acquisition, the company aimed to broaden their product content and artificial intelligence for enhancement in decision makings. Furthermore, growing concerns of organizations towards modernization and standardization of their portfolio is pushing them to form strategic alliances. Thus, such factors are anticipated to positively impact the growth of global sales tax software market during forecast period.

In terms of revenue, the global sales tax software market stood at US$ 4063.2 Mn in 2018 expanding at a CAGR of more than 10.8% during the forecast period.

The detailed research study provides qualitative and quantitative analysis of the global sales tax software market. The sales tax software market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America

Purchase the complete report titled “Sales Tax Software Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2015-2027” at

https://www.absolutemarketsinsights.com/reports/Global-Sales-Tax-Software-Market-2019-2027-322

Global Sales Tax Software Market Revenue (US$ Billion), 2015 - 2027

Key Findings of the Report: 

• In terms of revenue, global sales tax software market was valued US$ 4063.2 Million in 2018 owing to growing adoption of advanced technologies in order to standardizes and regularize taxation systems.
• On the basis of deployment, cloud is expected to grow exponentially over the forecast period owing to growing adoption of cloud based services by industries.
• Based on the industry vertical, BFSI is projected to hold largest market share over the forecast period. The adoption of sales tax software in BFSI enables secure transactions and better evaluation of tax filing systems, which is expected to be a key driver for the market.
• Some of the prominent players operating in the global sales tax software market include APEX Analytix, Avalara, CCH Incorporated, eDocSolutions, eGov Systems amongst others.

Global Sales Tax Software Market

• By Solutions
  • Consumer Use Tax Management
  • Automatic Tax Filings
  • Exemption Certificate Management
  • Others
• By Deployment
  • On-premise
  • Cloud
    • Single-Tenant
    • Multi-Tenant
• By Platform
  • Web
  • Mobile
    • Android Native
    • iOS Native
• By End User
  • Individuals
  • Commercial Enterprise
    • Small & Medium Enterprises
    • Large Enterprises
• By Industry Vertical
  • Banking, Financial Services and Insurance ( BFSI )
  • Transportation
  • Retail
  • Telecommunication & IT
  • Healthcare
  • Manufacturing
  • Food Services
  • Energy and Utilities
  • Others (Construction, Education, Etc.)
• By Region
  • North America
    • U.S.
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • New Zealand
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia Pacific
  • Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • Kuwait
    • South Africa
    • Rest of Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America