{"id":17843,"date":"2021-10-15T20:06:36","date_gmt":"2021-10-15T20:06:36","guid":{"rendered":"https:\/\/www.bluedotcorp.com\/press-releases\/blue-dot-sets-stage-for-rapid-u-s-growth-with-five-new-hires-copy\/"},"modified":"2023-07-20T15:59:39","modified_gmt":"2023-07-20T15:59:39","slug":"blue-dot-named-major-player-in-new-idc-marketscape-report","status":"publish","type":"post","link":"https:\/\/www.bluedotcorp.com\/press-releases\/blue-dot-named-major-player-in-new-idc-marketscape-report\/","title":{"rendered":"Blue dot Named a Major Player in New IDC MarketScape Report"},"content":{"rendered":"

Tax compliance platform\u2019s technology and artificial intelligence implementation noted as key strengths<\/strong><\/h2>\n

Waltham, Mass. (Nov. 8, 2021)<\/strong> \u2013 Blue dot<\/a>, a leader in tax compliance and automation, value-added tax (VAT) reclamation and data integrity solutions, has been named as a Major Player in the IDC MarketScape: Worldwide SaaS and Cloud Value-Added Tax Software 2021 Vendor Assessment<\/a><\/span> (doc #US47987321, October 2021). This was Blue dot\u2019s first time being included in the IDC MarketScape report.<\/p>\n

This was Blue dot\u2019s first time being featured in the IDC MarketScape report, which evaluates marketplace competitors across a variety of categories, ultimately producing a graphical positioning of the strengths of vendors in a given space.<\/p>\n

\u201cIt is enormously validating for our pioneering and innovative platform to be recognized as a major player by the IDC MarketScape. The analysts agree: the tax space is undergoing a paradigm shift that\u2019s been catalyzed by COVID-19. With our forward-looking focus, we\u2019re expecting to see rapid growth,\u201d said Isaac Saft, founder and CEO of Blue dot. \u201cThe pandemic has completely changed the game \u2013 how we work and what rules we need to be aware of. As the gig economy and the tax challenges both continue to grow, Blue dot\u2019s tech-first platform stands ready to lead customers through a new generation of tax compliance.\u201d<\/p>\n

Blue dot two greatest strengths, according to IDC MarketScape analysts, are its technology-first approach and artificial intelligence (AI) driven functionalities.<\/p>\n

On the technology front, the report states that Blue dot\u2019s service \u201cresults in a\u00a0faster time to process and deeper analytics than the traditional market is able to offer. Only\u00a0through total automation of the end-to-end process can you reliably process, analyze, report,\u00a0and manage your tax position, for example, relying on the thoroughness and accuracy of the\u00a0data to take advantage of the configurable posting tool or using the Blue dot tool as the basis\u00a0for authority audits.\u201d<\/p>\n

Blue dot\u2019s investment into AI was noted as a key differentiator by IDC MarketScape analysts, with the report highlighting the software package\u2019s inclusion of deep learning, natural language processing, external and historical data \u2013 creating a comprehensive account of employee-driven transactions which is the key to solving the challenges associated with VAT, fringe benefit taxes and corporate income tax<\/a>.<\/p>\n

With\u00a0news reports from\u00a0Amazon<\/a>, PwC<\/a> and other large tech firms announcing permanent remote work policies within the last week, \u00a0the distributed workforce\u00a0and\u00a0work\u00a0from anywhere\u00a0paradigm is here to stay.\u00a0 Blue dot\u2019s software track analyzes and reports on a company\u2019s employee spend data for hidden exposure to employee benefits and resulting taxes.<\/p>\n

\u201cBlue dot has a laser focus on automating VAT reclamation that is well-suited to a swiftly changing tax landscape,\u201d said Kevin Permenter, research manager at IDC. \u201cThe impact of COVID-19 \u2013 and the subsequent loosening of VAT restrictions causing budget shortfalls for many governments worldwide \u2013 will likely result in increased vigilance to close tax gaps in the coming years. With a platform that offers coverage in both the VAT and taxable employee benefit spaces, Blue dot is positioned to address the new working norm in the post-COVID world.\u201d<\/p>\n

About IDC MarketScape:<\/h2>\n

IDC MarketScape vendor assessment 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\u2019s 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.<\/p>\n

About Blue dot<\/h2>\n

Founded in 2013, Blue dot is a market pioneer in the tax tech arena, having developed the first technology-based and dynamically updated financial platform for employee-driven transactions in the market. The Blue dot tax compliance platform harnesses digitization, tax compliance and automation to process and analyze a company’s employee spend data for value-added tax, taxable employee benefits and corporate income tax, in real-time. As a privately held company, Blue dot’s technological breakthrough has raised more than $90M in private equity funding and attracted a large portfolio of Fortune 500 clients. Blue dot is fully dedicated to providing its clients with value, not only in terms of process savings and ROI, but especially in the peace of mind that comes from full compliance. For more information visit www.bluedotcorp.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Major Player in the IDC MarketScape: Worldwide SaaS and Cloud Value-Added Tax Software 2021 Vendor Assessment<\/p>\n","protected":false},"author":6,"featured_media":21320,"comment_status":"open","ping_status":"open","sticky":false,"template":"single-press-template.php","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2612],"tags":[],"yst_prominent_words":[191,110,195,270],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/posts\/17843"}],"collection":[{"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/comments?post=17843"}],"version-history":[{"count":0,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/posts\/17843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/media\/21320"}],"wp:attachment":[{"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/media?parent=17843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/categories?post=17843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/tags?post=17843"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.bluedotcorp.com\/wp-json\/wp\/v2\/yst_prominent_words?post=17843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}