Recently, at the online press conference of the white paper on China’s fiscal and taxation SaaS industry held by CIC insight consulting, Wang Haifeng, director of CIC insight consulting, pointed out that in the past two years, the epidemic has accelerated the development of enterprise digitization process and corresponding changes have taken place in enterprise management.
As an important supporting sector of enterprise digitization, the importance of fiscal and tax digitization is not only reflected in the high value of fiscal and tax data, but also in the linkage with other systems. In the process of enterprise operation and management, the trend of deep integration of business and fiscal and tax services is obvious.
Data show that the number of business entities of various enterprises in China has exceeded 150 million. In the huge financial and tax market customer base, small and micro enterprises mainly focus on the completion of tax obligations, while small and medium-sized enterprises gradually pay attention to the comprehensive processing capacity of Finance and tax and the degree of integration with business.
In the wave of enterprise finance and taxation digitization, the emergence of Finance and taxation SaaS provides a new solution for enterprise finance and taxation digitization. According to the calculation of CIC insight consulting, the market scale of China’s fiscal and taxation SaaS industry will be nearly 10 billion yuan in 2021 and is expected to exceed 30 billion yuan by 2026, with a compound annual growth rate of 25.9%. China’s fiscal and taxation SaaS industry is expected to maintain rapid growth and have a broad market space in the future.
According to the white paper, among the classification and representative players of China’s fiscal and taxation SaaS industry, invoice SaaS manufacturers are represented by Baiwang cloud, nono network and Gaodeng technology, and settlement SaaS manufacturers are represented by huilianyi and decibeltong. For the customers of small and medium-sized enterprises, some enterprises demand integrated process services covering bookkeeping, voucher generation, document review and report generation. In this series of financial SaaS fields, the main manufacturer representatives include Kingdee International, Servyou Software Group Co.Ltd(603171) , Yonyou Network Technology Co.Ltd(600588) .
In terms of higher-level service modules, tax SaaS provides enterprises with tax planning and other services to help enterprise users with tax management. Its main representative manufacturers include Servyou Software Group Co.Ltd(603171) , cloud accounting. When the user data accumulation reaches a certain level, the service module of tax SaaS will also continue to improve and develop into more value-added services, covering the fields of fiscal and tax consultation, fiscal and tax training, credit business and so on. The main manufacturers in this direction are Servyou Software Group Co.Ltd(603171) , Kingdee International, Yonyou Network Technology Co.Ltd(600588) .
Wang Haifeng pointed out that at present, China’s fiscal and taxation SaaS manufacturers are still actively exploring and tapping market demand. With the gradual increase of the penetration rate of fiscal and tax SaaS, the overall market space is expected to expand, and the first tier representatives such as Servyou Software Group Co.Ltd(603171) , Kingdee International, Yonyou Network Technology Co.Ltd(600588) and other manufacturers are also expected to continue to expand their market share.
