Comprehensive software suite provides customizable, always-on solutions for tax determination, e-invoicing and filing
ATLANTA–(BUSINESS WIRE)–Sovos, the always-on compliance company, introduces its Indirect Tax Suite, a comprehensive, integrated solution to modernize how companies meet global indirect tax obligations. Part of the Sovos Compliance Cloud, the Indirect Tax Suite empowers enterprises to manage all of their indirect tax obligations with governments, buyers, suppliers and consumers.
“Companies operating across multiple markets – or looking to enter new markets – face three distinct challenges in meeting their indirect tax obligations: variations in tax rates and rules; reporting cadences that can range from months later to real-time; and vastly different documenting and storage requirements for transaction data. Keeping up with all of this is a tremendous drain on resources, especially when using multiple, disconnected point systems for different obligations or in different countries,” said Kevin Akeroyd, CEO, Sovos.
“With the Sovos Indirect Tax Suite, companies can rely on the only comprehensive, global, always-on suite of integrated services in the industry to proactively manage compliance, benefiting from a single source of truth for tax data,” continued Akeroyd.
Nearly 70 percent of global businesses expect their organizations to focus more on tax governance in the next two years (source: EY). Navigating almost 19,000 tax authorities globally is further complicated as governments embrace continuous transactions controls (CTCs) and other technologies to monitor transactions in real time and make digital invoicing mandatory. Over 80 countries have already adopted e-invoicing requirements, with many more expected in the coming years.
Global companies that have invested heavily in digital transformation to optimize business processes for document exchange, procure-to-pay and transactions must adapt to these requirements, while still managing costs and risks. The Sovos Indirect Tax Suite maximizes a company’s technology investments, providing always-on compliance without the need to replace existing systems.
The Sovos Indirect Tax Suite features:
Sovos’ Compliance Cloud and Indirect Tax Suite are bolstered by a global team of more than 100 regulatory counsels and tax experts who monitor and report on more than 200 categories of regulatory change, codify those changes into the platform, and coordinate with governmental organizations to identify upcoming changes. No other cloud software provider in the industry offers this holistic integrated solution.
About Sovos
Sovos is a global provider of tax, compliance and trust solutions and services that enable businesses to navigate an increasingly regulated world with true confidence. Purpose-built for always-on compliance capabilities, our scalable IT-driven solutions meet the demands of an evolving and complex global regulatory landscape. Sovos’ cloud-based software platform provides an unparalleled level of integration with business applications and government compliance processes.
More than 100,000 customers in 100+ countries – including half the Fortune 500 – trust Sovos for their compliance needs. Sovos annually processes more than 11 billion transactions across 19,000 global tax jurisdictions. Bolstered by a robust partner program more than 400 strong, Sovos brings to bear an unrivaled global network for companies across industries and geographies. Founded in 1979, Sovos has operations across the Americas and Europe, and is owned by Hg and TA Associates. For more information, visit Sovos.com and follow us on LinkedIn and X.
Contacts
Media contact:
Zeno Group for Sovos
sovos@zeno
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