Avalara Recognized as a Leader in First IDC MarketScape Report on Global Tax Automation
SEATTLE--(BUSINESS WIRE)--Feb 7, 2019--Avalara, Inc. (NYSE:AVLR), a leading provider of tax compliance automation software for businesses of all sizes, has been named as a Leader in the IDC MarketScape: Worldwide SAAS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment (doc #US43263718, January 2019). The report highlights an increase in business interest and need for a tax automation solution to mitigate new compliance risks resulting from a rapidly expanding global digital economy, new legislation across the globe to capture new revenue from this digital transformation, and enhanced indirect tax enforcement tactics.
The IDC MarketScape report is a guidance tool for businesses seeking to digitize their tax compliance processes. The report suggests considering Avalara when “your business is growing and encountering indirect tax management challenges, such as navigating regulatory change, beginning an omni-channel ecommerce strategy, facing new product expansion, or selling in new geographic areas.”
The IDC MarketScape noted Avalara has “significant tax determination coverage in 30 countries, with expanding coverage in 100+ others,” bolstered by over 1,600 employees globally, with locations in North America, Europe, South America, and Asia.
Meeting complexity with superior technology and data management
The new report cites the complexity of sales and use tax, and growth in the digital economy as key factors for businesses seeking to automate tax compliance processes. Avalara is a preeminent tax technology provider delivering cloud-based solutions to automatically determine taxability, identify applicable tax rates, calculate taxes, prepare and file returns, remit taxes, and manage tax documents like exemption certificates.
The IDC MarketScape analysts also noted the significant investments Avalara continues to make in acquiring and ingesting industry-specific content into its cloud-based tax engine, including the product classification, rates, boundaries, and a host of other rules governing the application of tax in thousands of jurisdictions.
Leveraging a 700+ partner ecosystem to deliver fully integrated solutions to customers
The IDC MarketScape report emphasizes the power of partnership to effectively deliver the right solutions to customers of all sizes, and recognized the strategy undertaken by Avalara to rapidly build out its ecosystem to more than 700 unique integrations into hundreds of business systems, including accounting, ERP, ecommerce, point of sale, and customer relationship management.
The IDC MarketScape noted, “Avalara has always understood that success in the tax management software market is dependent on building partnerships with publishers of all types of business applications. Avalara has been aggressive about building out its ecosystem to include key players within the enterprise resource planning, accounting, digital commerce, point of sale, and customer relationship management markets.”
“The impact of digital transformation and globalization on businesses is an over-arching theme in our MarketScape report, and it’s driving a shift in technology strategy and selection,” said Kevin Permenter, senior analyst at IDC. “Avalara has spent years proactively bolstering its tax compliance solution set in anticipation of the changing needs of businesses today, whether it’s a home-based Amazon seller who wants to sell globally, a mid-sized retailer selling online and in brick-and-mortar stores, or a multinational enterprise with complex global compliance needs. Our expectation is that Avalara will continue to innovate, add new content to serve additional industries, and leverage new partnerships to further international expansion.”
Avalara helps businesses of all sizes get tax compliance right. In partnership with leading ERP, accounting, ecommerce and other financial management system providers, Avalara delivers cloud-based compliance solutions for various transaction taxes, including sales and use, VAT, excise, communications, and other indirect tax types. Headquartered in Seattle, Avalara has offices across the U.S. and around the world in the U.K., Belgium, Brazil, and India. More information at avalara.com.
About IDC MarketScape
The IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current and prospective vendors.
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KEYWORD: UNITED STATES NORTH AMERICA WASHINGTON
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT INTERNET SOFTWARE PROFESSIONAL SERVICES ACCOUNTING FINANCE
SOURCE: Avalara, Inc.
Copyright Business Wire 2019.
PUB: 02/07/2019 04:35 PM/DISC: 02/07/2019 04:35 PM