FRAMINGHAM, Mass.--(BUSINESS WIRE)--International Data Corporation (IDC) today published an IDC Innovators report profiling four technology providers that are considered key emerging vendors in the tax compliance software as a service market. The four companies named as IDC Innovators are TaxCloud, Taxify, Taxjar, and LumaTax.

Technology advancements have cleared a path within the area of corporate tax management. Advances in cloud technology are leading the way for corporate tax management professionals to gain higher levels of visibility, productivity, and scalability. Today's cloud-enabled tax compliance software providers provide tools to cope with the ever-increasing volume of online transactions and the constantly evolving tax regulations in the United States and beyond. The companies profiled in this report are representative of a new breed of cloud-first software products that are addressing the various aspects of tax compliance.

"The corporate tax landscape is growing more and more complex. Organizations are turning to cloud technology to maintain tax compliance amid this complexity. Tax software vendors looking to keep pace must continue to work with cloud technology and software as a service offerings to remain competitive in this evolving market," said Kevin M. Permenter, senior research analyst, Enterprise Applications at IDC.

LumaTax provides cloud-based sale tax compliance software that enables small businesses to manage and file sales tax returns in an automated fashion, taking some of the burden and complexity out of the tax compliance process.

TaxCloud offers ecommerce/retail tax compliance services, including a free option where the states pay TaxCloud's fees, that provide instantaneous tax calculation at the moment of sale as well as filing and remitting services.

Taxify provides sales tax calculation and automated filing services for ecommerce sellers on a self-service platform that allows small to medium-sized businesses to quickly identify and address their sales tax needs.

TaxJar offers real-time sales tax calculations, automatic sync with online shopping carts, shipping taxability in different states, and the ability to sync across multiple ecommerce channels and platforms as well as automated tax reporting and autofiling options.

The report, IDC Innovators: Tax Compliance Software as a Service, 2018 (IDC #US43263118), profiles four emerging technology providers offering tax compliance software as a service.

About IDC Innovators
IDC Innovators reports present a set of vendors – under $100 million in revenue at time of selection – chosen by an IDC analyst within a specific market that offer an innovative new technology, a groundbreaking approach to an existing issue, and/or an interesting new business model. It is not an exhaustive evaluation of all companies in a segment or a comparative ranking of the companies. Vendors in the process of being acquired by a larger company may be included in the report provided the acquisition is not finalized at the time of publication of the report. Vendors funded by venture capital firms may also be included in the report even if the venture capital firm has a financial stake in the vendor's company. IDC INNOVATOR and IDC INNOVATORS are trademarks of International Data Group, Inc.

For more information about IDC Innovators research, please contact Karen Moser at kmoser@idc.com.

About IDC

International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology, telecommunications, and consumer technology markets. With more than 1,100 analysts worldwide, IDC offers global, regional, and local expertise on technology and industry opportunities and trends in over 110 countries. IDC's analysis and insight helps IT professionals, business executives, and the investment community to make fact-based technology decisions and to achieve their key business objectives. Founded in 1964, IDC is a wholly-owned subsidiary of International Data Group (IDG), the world's leading media, data and marketing services company that activates and engages the most influential technology buyers. To learn more about IDC, please visit www.idc.com. Follow IDC on Twitter at @IDC and LinkedIn.