sovos

Company Description

Sovos is a global leader in tax compliance and business-to-government reporting software, safeguarding businesses from the burden and risk of compliance around the world. As governments go digital, businesses face increased risk and complexity.

Featured Products

Reduce audit penalties and increase efficiency with Sovos Sales & Use Tax Software. Manage the entire sales and use tax process, from calculating the proper tax on every transaction, to managing exemptions and regulatory filings.
Solving the most complex VAT requirements. Tax authorities worldwide want to gain more visibility into value-added tax (VAT) activities, increase collections and close revenue gaps. It’s not hard to see why; E.U. countries alone reported a VAT gap of almost €150 billion in uncollected revenues in 2016. As a result, governments are curbing this trend by increasing technology investments and demanding digital transactions and paperless processes.
The Only Global Solution for E-Invoicing Compliance. Ensuring e-invoicing compliance in more than 60 countries. To help communities thrive, governments around the world are embracing e-invoicing controls designed to close the VAT gap, but every country writes its regulations differently. Because there are no global rules for enforcement, compliance is notoriously complex — especially for multinational companies.

Multimedia Center

Expanding into new markets? Get the facts on VAT first.
Organizations have identified the move to S/4HANA as a critical business driver in creating a more centralized and transparent financial reporting structure.

Featured Content

In “Competitive Landscape: Supplier E-Invoicing Software, 2020,” we believe Gartner examines the key drivers for the increased adoption of e-invoicing software. Listed prominently among them is the need for business to meet government compliance regulations and to adopt global solutions capable of managing tax issues across multiple borders.
SAP leaders have been challenged to enable business transformation with a migration to S/4HANA. At the same time, state and local governments have embarked on a digital transformation of their own, requiring companies to provide more data on sales and purchases. Keeping pace with regulatory changes while maintaining patchwork processes across the business during the migration can put an additional strain on resources and ratchet up the pressure.

Articles / Case Studies / Videos

True End-to-End Compliance: Getting Sales and Use Tax Right Shouldn’t Be This Hard

Getting sales and use tax right shouldn’t be this hard, so Sovos provides a fully integrated solution to systematically manage your sales and use tax processes. We address your most pressing and time-consuming issues quickly and seamlessly, allowing tax & finance professionals to focus on creating revenue streams, scaling operations and growing your business. 

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On Demand Webinar | Tax: Your Surprise Ally on Your Journey to SAP S/4HANA

Organizations have identified the move to S/4HANA as a critical business driver in creating a more centralized and transparent financial reporting structure. As tax is an essential part of the financial reporting process, success of this strategy will rely heavily upon alignment between tax and IT.Much like S/4HANA enables an enhanced user experience with increased functionality and flexibility, a modern tax platform puts compliance strategies back in the hands of tax professionals. This ensures that compliance is being driven across multiple jurisdictions while consolidating your tax obligation reporting.If tax hasn’t been your first or most immediate thought when it comes to designing your S/4HANA migration strategy, it should be. It might just be your best and most dependable ally on the journey.

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Sales and Use Tax Study for Software Organizations – Executive Summary of Aberdeen Data

Regardless of size, today’s software organizations are significantly challenged in the quest for Sales and Use Tax (SUT) compliance, as they continue to evolve their businesses, create new product offerings, explore new business channels and expand geographically.

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Infographic: Top 10 VAT Compliance and Reporting Lessons from Latin America

Pioneering Latin American countries have led the way with VAT initiatives that rely heavily on technology for compliance and reporting. This gives governments greater visibility into business transactions. Download our infographic for the 10 lessons learned from Latin America’s initiatives that can help companies in Europe prepare for tax reporting changes.

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eBook: Understanding the Principles of Value Added Tax, What North American companies need to know as the expand globally

If you operate a business in North America and are looking to expand into international markets you are going to need to become familiar with the concepts and implications of Value Added Tax (VAT).VAT is the most common form of consumption tax used today, out of the 193 countries around the globe, 166 are currently operating with a VAT as a key part of their tax mix.Overcoming the various challenges VAT offers doesn’t happen overnight, and as governments all over the world are increasingly focusing on their revenue base, compliance at first instance is vital in the face of more aggressive audits.This guide will provide you with the necessary base understanding of VAT. It offers some valuable insights and guidance to getting started when you enter a new market that employs a VAT system of taxation and offers expert opinions on when to seek help.

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Infographic: Building a VAT Roadmap for 2021 and Beyond

At a time when the global VAT landscape is undergoing significant change, we teamed up with Shared Services Link to understand more about the key challenges faced by AP and VAT professionals at multinational companies and what their focus is for 2021 and beyond.

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