Press release
Tax Software Market is Set to Rise at a CAGR of 11.2% due Growing Digitalization, Advanced Technologies and Revenue Growth of $24.8 Billion by 2027 - Chetu, Drake Software, H&R Block, Intuit Inc.
The Insight Partners
The digital revolution across the world presents huge opportunity aspects for businesses to utilize digital services and automation to modify their business models and traditional processes in order to improve operational efficiency and increase revenue. Digital transformation or automation in the businesses is the integration of digital technology in various business processes, organizational activities, and business models. Enhanced operational efficiency, end-to-end business process optimization, and reduction of cost and human errors are among the major factors driving the growth of digital transformation in tax systems.
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The retail sector continuously experiences the emergence of advanced technological solutions to increase efficiency. The market players operating in this sector maintain an enormous quantity of sensitive data that varies from the financial statement, invoices, legal contracts, emails, to receipts. The retail sector has experienced tremendous transformation, with the single major disrupter such as online shopping. Retail leadership also face increasing pressures from stakeholders to display higher returns. With solution maturity and pricing being no longer a barrier, they are encouraging automated systems to enhance the order accuracy, optimize the business and upsurge throughput. Tax automation is a key part of the equation in the retail sector.
Strategic Insights
Strategy and Business Planning is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in Europe. Few of the recent partnerships are listed below;
2019: EY announced Tax partnership with Thomson Reuters.
2019: Vertex announced Salesforce Commerce Cloud Integration
2019: Vertex announced partnership with Insite Software
Tax Software Market - By Product Type
- Software
- Service
Tax Software Market - By Deployment Type
- Cloud
- On-Premise
Tax Software Market - By Tax Type
- Sales Tax
- Corporate Tax
- Income Tax
- Others
Tax Software Market - By End-User
- Individual
- Commercial Enterprises
Tax Software Market - By Vertical
- BFSI
- IT& Telecom
- Healthcare
- Government
- Retail
- Others
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About Us - The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services.
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