Sales Tax Software is the software that simplifies, automates, and integrates the sales tax calculation, management, and reporting. The system offers solutions such as consumer use tax management, value added tax, tax return filing, and software integration with the financial database.
Portland, OR -- (SBWIRE) -- 10/31/2017 -- Sales Tax Software helps businesses of all sizes achieve compliance with sales tax, VAT, excise tax, and other transactional tax requirements. Cloud-based Sales Tax Software solutions is designed to effectively manage complicated and burdensome tax compliance obligations imposed by state, local, and other taxing authorities in the North America and internationally.
The Global market size for Sales Tax Software reached 4702.29 M USD in 2016 from 4118.46 M USD in 2012. Europe also play important roles in global market, with market size of 889.34 million USD in 2016 and will be 917.34 million USD in 2022, with a CAGR of 0.52%.
Growth in demand for sales process automation, increase in demand for IoT devices, and availability of cloud-based solution at a low price. However, factors such as huge initial investment and lack of skill sets are expected to restrain the growth of the market. Based on solution, the market is divided into the consumer use tax management, tax filing, and others. As per deployment model, the market is bifurcated as cloud and on premise. On the basis of industry vertical, the market is classified as BFSI, transportation, retail, telecom & IT, healthcare, and others.
Comprehensive competitive analysis and profiles of major market players such as Avalara, APEX Analytix, CCH Incorporated, eDocSolutions, LexisNexis, Sage Intacct, Inc, Vertex Inc., Ryan LLC, Sales Tax DataLINK, and Zoho Corporation are also provided in this report.
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