Related Articles

author-banner-img
author-banner-img

Top 8 Next-Gen Tax Compliance Platforms Launched Since 2019: In-Depth Reviews and Rankings

Top 8 Next-Gen Tax Compliance Platforms Launched Since 2019: In-Depth Reviews and Rankings

Top 8 Next-Gen Tax Compliance Platforms Launched Since 2019: In-Depth Reviews and Rankings

1. Sovos Compliance Platform

Sovos has rapidly emerged as a leader in tax compliance technology since its significant platform updates in 2019. Designed to cater to complex global tax jurisdictions, Sovos offers comprehensive solutions, including VAT, sales tax, and e-invoicing compliance.

This platform excels at automating real-time tax calculations and regulatory reporting, significantly reducing the risk of non-compliance. With AI-driven analytics, Sovos helps businesses stay ahead of evolving tax laws and provides detailed audit trails.

Clients praise its scalability, which serves both SMEs and large enterprises efficiently. According to Forbes, Sovos is among the fastest-growing tax technology companies, benefiting from continuous innovation and strategic acquisitions.
(Source: Forbes, 2021)

2. Avalara AvaTax

Avalara AvaTax remains a dominant force in tax compliance since its enhanced release cycles post-2019. AvaTax facilitates automated, accurate calculation of sales tax and VAT in real-time for over 12,000 jurisdictions worldwide.

Its cloud-based architecture ensures seamless integration with eCommerce platforms, ERP systems, and marketplaces. Avalara's user-friendly dashboard makes compliance management transparent and reduces manual tax return filing errors.

Market analysts highlight Avalara’s ongoing commitment to innovation, especially in adapting to digital tax reforms like e-invoicing mandates in Europe and Latin America.
(Source: Gartner Reports, 2022)

3. Vertex O Series

Vertex’s O Series platform, updated extensively since 2019, offers a next-gen approach to automated tax compliance through AI and machine learning. It focuses on enhancing transaction tax accuracy via cloud-based services.

Its standout feature is a robust API ecosystem that supports multi-channel retail, enabling seamless tax calculation across physical stores, eCommerce, and digital marketplaces. Vertex’s risk management tools also help preempt audits.

According to IDC, Vertex O Series is favored by global enterprises for scalable tax automation and detailed regulatory compliance features.
(Source: IDC MarketScape, 2023)

4. TaxJar by Stripe

TaxJar, acquired by Stripe in 2021, updated its compliance platform significantly during this period. It targets online sellers by automating sales tax calculations, returns, and filings across the US.

TaxJar’s intuitive interface and API integration with popular online sellers like Amazon, Shopify, and eBay streamline tax handling without the need for tax expertise. The platform’s auto-filing feature has saved thousands of hours in manual processes.

Stripe’s investment has accelerated TaxJar’s growth, integrating tax compliance seamlessly into payment systems, which is especially appealing to fast-growing ecommerce entrepreneurs.
(Source: Stripe, 2022)

5. Thomson Reuters ONESOURCE Indirect Tax

Thomson Reuters launched major updates to its ONESOURCE Indirect Tax solution post-2019, focusing on automation and compliance with global indirect tax regulations such as VAT and GST.

The platform offers comprehensive determination, calculation, and reporting, backed by the global tax authority content that Thomson Reuters provides. Advanced data analytics help forecast tax liabilities and improve accuracy.

Its modular design fits multinational firms, providing strong audit defense features and integrations with enterprise systems like SAP and Oracle.
(Source: Thomson Reuters official documentation, 2023)

6. Taxamo OneTrust Compliance Platform

Taxamo, incorporated into OneTrust in 2021, introduced a next-gen compliance platform geared towards digital goods and services taxation globally, tackling complex VAT requirements.

Their solution automates tax calculations in real-time with extensive support for cross-border transactions, including digital services and e-invoicing compliance. It also offers consumer tax data management to enhance privacy compliance.

Industry reports recognize Taxamo OneTrust for its innovative approach combining tax compliance with privacy and data governance, a vital factor in modern digital commerce.
(Source: OneTrust press release, 2022)

7. Greenback Exports

Greenback Exports launched an innovative cross-border tax compliance platform in 2020 designed for exporters and importers dealing with complex customs and VAT obligations.

The platform integrates customs declarations with VAT calculations, automating compliance workflows across multiple jurisdictions. Its user-centric design simplifies processes traditionally considered cumbersome and error-prone.

Trade associations have lauded Greenback for improving transparency and efficiency in global supply chain taxation, increasing compliance confidence for SMEs engaged in international trade.
(Source: Global Trade Magazine, 2021)

8. TaxCloud Enhanced

TaxCloud significantly enhanced its offering since 2019 by incorporating AI-powered sales tax rate automation and exemption certificate management tailored to U.S. eCommerce businesses.

The solution supports real-time rate lookups, automated filing, and collection reports, freeing retailers from regulatory complexities. Its integration with leading shopping platforms and marketplaces continues to expand steadily.

Experts note TaxCloud’s affordable, API-driven flexibility makes it a preferred choice for small to midsize online retailers aiming to scale without compliance risks.
(Source: TaxCloud official website, 2023)

Read More