Now get the complete, three-part report.
US e-commerce sales grew by 44 percent in 2020, as the pandemic shifted buying online. And more than half of the states altered their sales tax regulations in the beginning of this year. With this kind of growth combined with this level of regulatory change, what does the future hold for e-commerce compliance?
We surveyed more than 500 financial professionals in order to better understand how they are navigating e-commerce compliance — as well as how they foresee the landscape changing in the future. We’re bringing you our results and the insights they’ve provided in this complete, three-part report.
In this report, you’ll learn:
- How the current e-commerce landscape is changing how financial pros think of compliance
- The “hierarchy of needs” of financial professionals
- What has most impacted the decision to automate compliance
- What financial pros are looking for in automated compliance solutions
From the report:
Most financial professionals (78 percent) say they believe their e-commerce business will only grow more in the future. As one professional put it: “We expect our e-commerce to greatly, significantly increase because of COVID. People are staying at home and using their computers, and I think they will continue to do so after COVID has gone away."
The great majority (92 percent) think it’s important that compliance software stays up to date with tax obligations for each state and jurisdiction. Right behind that, 91 percent think it’s important that compliance software is secure. But for it to be useful, tax software has to address a number of needs. All of the 12 software attributes tested were thought of as important by at least 84 percent of financial professionals.
Download the report and stay tuned for a webinar featuring compliance and research experts.