Sovos CTO: Modern Tax Demands Modern Software. We’ve Built S1 For the Digital Future of Tax.

Sovos
July 24, 2018

Sovos Chief Technology Officer, John Landy, comments on the new S1 platform. 

Businesses now need a new approach to handling taxes. With the new S1 architecture, that’s exactly what we’ve built.

Tax has changed. What used to be merely a burdensome obligation is now becoming a risky and technical part of every major business process. Governments are embracing digital transformation in the same way businesses have, which has pushed existing financial and tax applications far beyond their capabilities.

Staying compliant with tax regulations is no longer a matter of making a few changes in a financial system once a year. Governments have embraced the same data-driven approaches that companies have used to transform their businesses, and that has left businesses to face a new reality where tax is in the middle of everything–and it’s a moving target.

A new era of government oversight

In order to stay compliant, companies now need to be in constant contact with government tax authorities. An auditor who might have come in and sat in a company’s office before is now pouring through the company’s data, looking for patterns–or even letting systems monitor transactions in real time. As a result, open channels of constant communication have to exist between businesses and the government entities that are determined to collect revenue from them more efficiently and effectively.

Most financial systems don’t have the capability to keep those lines of communication open. And they weren’t built for dealing with rapid regulatory change.

The Sovos S1 platform was.

Unique advantages of the S1 architecture

S1 was built for modern commerce — and modern tax. It’s adaptable, connected architecture allows businesses to focus on growth instead of worrying about adjustments in their systems every time governments change something.

Using a set of flexible, comprehensive Application Programming Interfaces (APIs), S1 enables Sovos to ease customers’ pain by connecting financial applications to the systems governments use for tax enforcement. The APIs also make Sovos applications easily available in clients’ existing financial systems and workflows.

Data lives in the S1 transaction data engine, maximizing efficiency and transparency by giving businesses a single source of truth for tax data across systems and enabling a multiple applications to process tax data.

A rules-driven platform enables companies to deploy the most important tax applications anywhere in the world, enables the creation of adaptable workflows and makes it easy to keep pace with changing technical and compliance requirements.

Through S1, the Sovos regulatory content team can do the hard work for businesses, updating applications behind the scenes and without disruption to the business as changes in regulatory policies happen. S1 lets Sovos do the hard work of keeping up with compliance for clients, enabling them to focus on other mission-critical tasks.

Sovos has also significantly upgraded our user interface with S1. The new platform offers a single-pane-of-glass view that presents all tax information in one place, as well as role-based user experiences that deliver the right information to the right people they way they want to see it.

Reliable, scalable, secure infrastructure

S1 provides a rock-solid infrastructure that lets Sovos update multiple applications at the same time, speeding time to value and further reducing risk for clients. And when Sovos updates one application, the other apps benefit from the update as well. It’s kind of like crowdsourcing but for tax solutions.

The S1 platform delivers reliability with a fully redundant, best-of-breed architecture stack that takes advantage of multiple physical data centers. A global cloud operations team and 24/7 monitoring ensure maximum uptime and give clients confidence that they will be able to access their data when they need it and from anywhere in the world.

Enhanced scalability is another advantage of the new platform, with distributed deployment architecture providing support for all client infrastructure strategies and auto-scale to meet changing business needs. S1 is resilient; the infrastructure can support more than 2 billion transactions per day.

Of course, S1 enables Sovos to continue to uphold the highest standards of data security. The new platform is ISO 27001 certified and features 360 degree scanning and monitoring, continuous vulnerability scanning, regular penetration testing and a dedicated SOC team performing advanced detection and prevention.

Built for the new challenges of tax

Built to meet the requirements of the most demanding businesses in the world, including Fortune 100 banks, global manufacturers and major retailers, S1 is the first platform built for the rapidly changing challenges of modern tax.

In an era when governments are undergoing digital transformation in an effort to increase revenue, S1 provides businesses with an architecture and infrastructure that enables them to minimize risk while improving processes and greatly enhancing the user experience.

Take Action

Discover more about the S1 platform.

John Landy, CTO

As Chief Technology Officer at Sovos, John leads ongoing product development to ensure customers have access to the most updated compliance solutions needed and that their sensitive data is completely secure as they navigate today’s business-to-government regulatory landscape. John is also responsible for ensuring the company’s product offerings are stable and scalable for enterprise organizations and financial institutions that leverage the Intelligent Compliance Cloud via the Sovos platform.

John joined Sovos in 2015, bringing over 25 years of technology and architecture leadership experience to the team. Prior to joining Sovos, John served as chief technology officer at Datapipe, where he worked on software defined datacenter initiatives around the world for multi-cloud environments. Before that, John worked as chief technology officer at Intralinks, where he led SaaS platform enhancements to provide new methods of sharing critical information across global boundaries, which culminated in an IPO in 2010.

John earned his B.S. in Computer Science from Lehigh University, an M.S. in Computer Science from Villanova University and an M.B.A. from Babson College.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Author

Sovos

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. The Sovos Intelligent Compliance Cloud combines world-class regulatory analysis with a global cloud software platform to create an adaptable, connected and global compliance solution that keeps businesses ahead of the ever-changing regulatory environment. Sovos supports 4,500 companies, including half of the Fortune 500, and integrates with a wide variety of business applications. Based in Boston, Sovos has offices throughout North America, Latin America and Europe. For more information visit and follow us on LinkedIn and Twitter.
Share This Post

United States
2019-03-25
Marketplace Facilitators and Payment Processors – The New Taxpayers?

Marketplace Facilitators and Payment Processors Find Themselves in the Global Tax Compliance Crosshairs  While approaches may differ across the globe, one of the defining trends in indirect tax over the last few years has been the effort to expand the number of types of businesses responsible for collecting tax. However, one of the challenges associated […]

Tax Information Reporting United States
2019-03-22
How to Respond to the Growing Challenges of 1099-R Reporting

The demographics don’t lie: Reporting for form 1099-R is only going to grow more difficult as baby boomers retire. The form used to report distributions from IRA, pensions, annuities and other similar retirement accounts is poised to explode in volume. As such, financial institutions (FIs) and insurance companies can’t afford to mishandle 1099-R reporting. The […]

E-Invoicing Compliance EMEA
2019-03-21
Portugal Issues New E-Invoicing Rules: A Flavour of Clearance but Not Quite There

On 15 February 2019, Portugal published Decree-Law 28/2019 regarding the processing, archiving and dematerialization of invoices and other tax related documents including: The mandatory use of certified invoicing software General requirements for paper and electronic invoices Dematerialization of tax documentation Archiving of tax documentation (including ledgers, etc) Adjacent tax rules and obligations The decree aims […]

EMEA LATAM VAT & Fiscal Reporting
2019-03-18
Are We in the Golden Age of VAT Recovery?

The value-added tax (“VAT”) was described in the EU as a “”money machine” over 20 years ago. Yet according to a 2015 study by the European Commission by the Centre for Social and Economic Research (CASE), the “VAT gap” was approximately 168 billion EUR. This represents 15 percent of the theoretical VAT that would be […]

Tax Information Reporting United States
2019-03-15
As Legal Sports Gambling Grows, So Does Growth in W-2G Reporting

With the NCAA basketball tournament approaching, the US is gearing up for its biggest gambling weeks of the year. And while most “March Madness” pools might technically be illegal, legitimate sports betting is sweeping the US following last year’s landmark Supreme Court decision allowing states to legalize sports gambling in casinos.   As legal sports […]