In order to thrive and ensure that virtual shelves keep stocked in the face of logistical and supply chain constraints, marketplace operators seek to include an array of vendors and goods/services.
But by increasing their seller base, operators face a series of operational challenges, including tax and financial complexities, echoing the challenges and needs of the seller.
According to 75% of marketplace operators that were surveyed are self-reporting that manual indirect tax calculations are slowing down transactions, while a similar number say inaccuracies in tax calculations impact pricing and affect customer satisfaction.
These challenges are preventing marketplace operators from gaining seller confidence regarding the accuracy of tax calculations on their platforms.
The ability to manage indirect taxes on cross-border sales has become a crucial component in growing the seller base for marketplace operators due to the increasing complexity of international taxation regulations.
For marketplace operators to give seller confidence in the platform and deliver the frictionless experience customers want, dedicated indirect tax automation tools need to be introduced.
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