Blog

Avoiding Tax Compliance Risks Moving to SAP Central Finance

SAP Central Finance delivers on the promise of pulling data from multiple sources into a single view for reporting and analysis. Channeling disparate data sources into a single source of truth can be massively valuable to organizations, especially those that have a sprawling number of billing, accounts payable and general ledger components, or even multiple […]

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Why the Creation of a “United Nations of Digital Tax” Is a Game-Changer for Digital Business Transformation

The event largely went unnoticed in the general press, and even the business and IT press hardly paid attention. Yet the proceedings that unfolded in October 2018, when more than 80 of the world’s tax administrations came together at a Tax Summit in Lisbon, would be major financial headline material if more people understood their […]

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10 Challenges of Native SAP Tax Compliance – Part Two

In my last blog, I discussed the first three challenges of native SAP tax compliance for growing companies facing multifaceted indirect tax requirements and continuous compliance mandates. These ranged from regional disparate ERP systems and custom workflows, shortsighted regulatory updates and ERP administration. Additional challenges your IT, finance and tax teams face are discussed below. […]

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10 Challenges of Native SAP Tax Compliance – Part One

As tax, finance and IT teams plan to support the future growth of their businesses, many are realizing the challenges of managing customized ERP-centric tax compliance. A recent HCL-sponsored global study of large enterprises (over $1 billion in annual revenue) found that on average respondents had five separate instances of SAP operating across their businesses. […]

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10 Reasons IT Leaders are Prioritizing SAP Tax Compliance for S/4HANA

Tax compliance is moving up the priority list as companies migrate from ECC to S/4HANA and S/4HANA Cloud. Multinationals recognize the inefficiencies of SAP-native compliance as government mandates redefine sales and use tax, e-invoicing, and VAT compliance and reporting requirements. Financial systems that were originally implemented to help manage growth are now hindering it. IT […]

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Will Tax Compliance Drive Digital Transformation? – SAP Expert John Appleby Weighs In

It’s clear that company leaders understand that digital transformation is key for their very survival in a world of constant disruption, but only a small percentage actually have finished a company-wide transformation – opening the door to potential problems from lost customers to tax compliance issues. An SAP survey finds that 84% of 3,000 executives […]

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

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. […]

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The Top Three SAP Challenges Impacting Manufacturers

The acceleration of regulatory complexity is causing unnecessary strain on IT departments within manufacturing companies, negatively impacting growth. In fact, 31% of companies report that keeping up with the volume and complexity of regulations is their number one compliance challenge, and 45% say increasing costs of compliance is their number one barrier to growth. The […]

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Sovos Bolsters Cloud Technology Leadership with Chief Security Officer, Chief Product Officer and Head of Customer Success

On the heels of revealing our S1 cloud platform to drive the modernization of tax software in the face of mounting digital disruption from businesses, financial systems providers and governments, as well as announcing support and an early adopter program for SAP S/4HANA cloud, we’re excited to also announce the following key appointments to our leadership […]

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Use Your HANA Migration to Solve Your Tax Challenges for Good

Companies dealing with complex sales and use tax determination, VAT regulations and other tax challenges across the globe know that SAP alone is not equipped to support the varying requirements from country to country. As SAP sunsets support and updates for ECC and R3, companies must move to HANA to keep their systems up to […]

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The Future of Procurement – Embedded Always-On Global Tax Compliance

Ask any business student what the secret to commercial success is and they’ll tell you it’s profit margin, not just sales volume. Therefore, to be good at selling things you have to excel at buying them. Usually, companies have a strong incentive to tightly manage what’s called ‘direct supplies.’ These are the raw materials and […]

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Sovos Named a 2018 Spend Matters Provider to Watch

Sovos has been named a ‘2018 Provider to Watch’ by Spend Matters, the leading solution intelligent source for procurement and supply chain professionals. This recognition also extends to TrustWeaver, also named on this years’ list and now part of the Sovos family. According to the This Week on Spend Matters email newsletter, “the annual 50 Providers […]

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Evaluate Your Tax Team for Regulatory and Business Change

Our October 24 Webinar, “Building the Tax Team of the Future to Successfully Navigate the Regulatory Storm,” is now available onDemand. During the webinar, we asked attendees a series of four detailed polling questions to help them measure their tax teams’ ability to deal with regulatory and business change. Questions were based on a Reactive-to-Proactive […]

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Building a Tax Team to Meet Future Compliance Requirements

It’s clear business evolution, technology disruption and related tax compliance laws are creating increased complexity and becoming tremendous business liabilities. In today’s regulatory environment, businesses must view tax compliance as a critical function, committing the right resources, technology and process discipline necessary to maintain compliance and respond to the associated audits so the business can […]

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Building the Tax Team of the Future to Navigate the Regulatory Storm – Webinar

There’s a growing regulatory storm on the horizon, impacting tax professionals’ roles and skills. This is causing a shift in how businesses are preparing their compliance teams to keep their businesses ahead of the curve.   Join Matt Walsh, Principal Indirect Tax and Mark Christenson, Director, of Sovos on October 24 at 2:00 PM Eastern […]

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159.5 Billion Reasons Why the Global Tax Landscape Is Changing 

The VAT Gap in the EU was estimated to be €159.5 billion in 2014, and the enormity of that gap is one of the reasons why the global tax landscape is changing so dramatically. Sovos explained this development to attendees of the FD Exchange conference, which took place in the Steigenberger Airport Hotel in Amsterdam. […]

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How Manufacturers Keep Pace with Global Tax Compliance – Infographic

It’s no surprise that the acceleration of regulatory complexity is increasing manufacturers’ risk of being negatively impacted by sales and use tax compliance in ways that can hinder their growth. See INFOGRAPHIC Below Manufacturers Burdened with Regulatory Complexity 2017 has been the year that manufacturers began moving from design and concept for cloud technologies, IoT […]

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Compliance Challenges for ”Legacy B2C” E-Commerce Solutions Moving into B2B

We are seeing a lot of vendor scope evolution on the market. Examples include EDI vendors that are developing business network-style services; another one is that platforms focused on procurement of indirect supplies are moving into strategic sourcing and vice versa. A trend that receives less attention from analysts and specialized press is the journey […]

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