Businesses Digitising at a faster rate post lockdown

Accounting software provider has launched Dext Commerce to help simplify sales data for a growing number of digital businesses selling through ecommerce platforms.

· SMEs digitising their operations and sales at a much faster rate post lockdown

· Many find balancing the books challenging with multiple commerce platforms 

· Dext Commerce simplifies sales data and tax calculations selling and operating digitally

Dext today launches new research revealing the velocity at which British businesses are now digitising their operations and sales through eCommerce platforms from Amazon and Shopify, digital payments providers and disruptors like Deliveroo.  

Many report challenges getting standardised data from multiple sources; and ensuring tax is accurately calculated in different markets.

Dext Commerce solves the challenge of manually fetching and consolidating sales data from multiple commerce and payment platforms in different formats. Dext Commerce simplifies sales data and tax calculations across multiple countries, saving businesses stress and time worrying about things like tax, refunds, reimbursements and shipping costs. 

Key Dext Commerce features include:

· A digital record of sales transactions line by line to support compliance with new data regulations like ‘Making Tax Digital’ in the UK;

· Making sure businesses report and pay the right sales tax, wherever they sell;

· Itemise sales, fees, refunds and reimbursements data, line by line, with one subscription;

E-commerce sales in the UK and US comprised c. 35% of total retail sales in 2021, nearly doubling in the UK. 

Dext CEO, Adrian Blair, commented: “Millions of businesses now sell via eCommerce platforms like Amazon and Shopify. With Dext Commerce, those businesses now have the tools needed to make sales data simple. Dext Commerce solves two key pain points: getting standardised data, line by line, from multiple sources; and ensuring digital sellers accurately calculate how much tax to pay in different markets.”

Digital advertising 

UK business spend on Google and Facebook as digital advertisers grew 2.5 times between 2018 and the end of 2020 for both respectively, with average spend per transaction at £1,067 (Google) and £870 (Facebook). Spending on both dwarf business spending on Twitter and LinkedIn by more than ten times. 

Remote working software (UK) 

Whilst Zoom was a clear beneficiary of the move to work remotely, experiencing an 11-fold increase in spend registered with British businesses between 2018 – 2020, that meteoric increase has not been sustained as people return to work. Microsoft still dominates the market. 

Delivery enablement (UK)

Royal Mail remains UK business’s favourite carrier experiencing a 4.3 times increase in business spending between 2018 and 2020. Fedex has risen to be the UK’s second most favoured logistics solution, experiencing a ten-fold increase in spend. 

Deliveroo is the favoured delivery enablement platform by British hospitality and takeaway businesses experiencing a 3 x growth from 2018 to 2020 however JustEat has grown faster over the period with spend increasing 3.5 times in just one year between 2019 and 2020. 

Payment solutions 

There was a 2000% increase in GoCardless spending volumes in the UK between March 2020-2021, as direct to consumer sales took off. 

Dext Commerce is available in the UK, US and Canada, with rollout in France and Australia later this year. 

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