The Advantage of a Cloud-First Company

Sovos
June 1, 2020

With the acquisition of Eagle Technology Management (ETM) and Booke Seminars, Sovos has united the very best in statutory reporting solutions, technology and expertise. Below is an overview of our strategy following these acquisitions:

Sovos’s SaaS and Security Strategy 

Sovos at its core is a Software as a Service (SaaS) and cloud-first company. This means that as Sovos continues to expand our technology and service offerings we will always prioritize operating in the cloud before any other means. Sovos has a long history of operating our products in our private cloud infrastructure giving us the granular control necessary to serve the largest financial institutions and insurers in the world while meeting the rigorous security requirements to do so. More recently Sovos has been adopting public cloud infrastructure, where practical, to meet the needs of our customers and the global markets we serve. Sovos certifies to the ISO27001 Information Security Management Standard and is SOC 2 certified to ensure data security, availability, and confidentiality requirements are met. Sovos also utilizes SSAE 16 audited data centers.

Wings Takes Flight with TCP Enhancements

As Sovos evaluates the companies we acquire, we closely review the technology behind the solutions we’re acquiring. Sovos’ SaaS and cloud-first strategy became even more apparent through the acquisitions of statutory reporting market leaders Eagle Technology Management (ETM) and Booke. In Wings, we found a powerful technology solution that meets the complex needs of the statutory reporting space while being a great technology fit for the overall Sovos cloud ecosystem. By acquiring Booke, Sovos added the deep knowledge and expertise of Booke educators providing educational services to all insurers. While Booke offered an Annual/Quarterly Statement solution (TCP), this solution did not support Sovos’ SaaS and cloud-first strategy through its on-premise only deployment option. Because of this, Wings will be the solution being enhanced and built upon moving forward. The legacy ETM and Booke teams are collaborating to ensure the best parts of TCP influence the investment decisions we make in Wings over the coming years.

Sovos’s Expertise and Technology Investment

Today, Wings is a thin client SaaS offering which requires a small piece of software to be downloaded. There are several ways to seamlessly automate this download and Sovos has been able to accommodate thousands of organizations’ internal infrastructure and software deployment policies to date. However, the download will not be required much longer. In the near future, Sovos is releasing a browser-based offering that is being built from the same foundation as the market leading Wings solution, with all the current power and tools behind it. As soon as early fall 2020, we will have early adopter clients accessing the browserbased offering to provide feedback enhancing the end user experience before general release to all Wings customers. With both acquisitions, Sovos not only has the ability to build out our education, regulatory, support and account management teams to provide a full compliance offering, but also has the ability to evolve these products as industry needs change using the latest and greatest technology available. What does this mean to our clients? State of the art technology, marrying two powerhouse solutions in the industry backed by educators and experts who can support your statutory compliance and reporting needs far into the future.  

Talk to an expert.

To learn more write us at info@sovos.com

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Author

Sovos

Sovos is a leading global provider of software that safeguards businesses from the burden and risk of modern transactional taxes. As VAT and sales and use tax go digital, businesses face increased risks, costs and complexity. The Sovos Intelligent Compliance Cloud is the first complete solution for modern tax, giving businesses a global solution for tax determination, e-invoicing compliance and tax reporting. Sovos supports more than 7,000 customers, including half of the Fortune 500, and integrates with a wide variety of business applications. The company has offices throughout North America, Latin America and Europe. Sovos is owned by London-based Hg. For more information visit www.sovos.com and follow us on LinkedIn and Twitter.
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