In the past five years, transaction automation platform vendors who embraced e-invoicing and e-archiving compliance as integral to their services grew on average approximately 2.5 to 5 times faster than the market. Two decades of EU e-invoicing: many options, different models Until 1 January 2019, when Italy became the first European country to mandate B2B […]
In the last several weeks, we have monitored many efforts by federal, state and local governments to provide relief to both businesses and individual taxpayers impacted by the COVID-19 pandemic. As they relate to indirect tax (VAT/Sales Tax/GST), the measures enacted to-date have followed varying paths. Here are a few examples of the types of […]
Originally posted: March 18, 2020, at 5:00 p.m. ET. Last Updated: June 29, 2020, at 5:00 p.m. ET. The impact of COVID-19 on businesses across the globe has been swift and severe. In response, many federal, state and local governments are working to provide relief to both businesses and individual taxpayers impacted by the pandemic. […]
What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created […]
What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created […]
What’s your digital transformation strategy? Whether you’re in IT, finance, tax or the executive suite, if that strategy doesn’t include tax, you may be overlooking a huge source of risk – and strategic benefit. It’s time to consider launching a conversation about tax in a digitally transforming world. Which is why we’ve created […]
Value-added tax (VAT) does not exist in the United States, but American companies are increasingly having to deal with VAT mandates in Latin America, Europe and Asia. Seeking to make up a massive gap in revenues, tax administrations are mandating strict policies to digitize VAT collection. American companies that fail to comply could see their […]
With today’s announcement that SAP is extending support for its Business Suite 7 software suite until the end of 2027 many are breathing a sigh of relief. But are they falling victim to a false sense of security? While SAP adjusted its timeline, largely due to increasing customer pressure, know that governments have no such […]
The following is an excerpt from “Trends in Continuous Global VAT Compliance,” the 11th edition of the industry’s most comprehensive guide to e-invoicing, e-archiving and VAT reporting. The full report is available for download. To reduce the VAT gap, countries are pushing taxable organizations to comply with VAT requirements and enforcing different types of legal […]
Companies are dealing with a fundamental shift in the way they do business with trading partners. In a rapidly increasing number of countries, there’s a third party inserting itself into every transaction. It’s the government, and it’s wedging its way into every order a company ships or receives. In an effort to close a massive […]
AP automation is supposed to save SAP customers money, but developments in digital tax could derail its benefits and actually create further liabilities. With tax authorities all over the world seeking to increase revenues and close tax gaps, IT professionals and AP system administrators face new challenges in indirect tax compliance. Among those challenges are […]
Anyone familiar with the Discovery Channel’s Shark Week and the portrayal of hungry sharks setting their sights on surfers may be surprised to learn that tax and IT professionals may be feeling every bit as wary as those surfers as they enter their own version of shark-infested waters. The reason: IT and tax pros are […]
With more companies focusing on global integration, cross-border supply chains and expanding ecommerce, governments across the globe are introducing new ways to enforce tax rules and close their tax gaps. The evolving global regulatory environment produces unique tax determination and reporting challenges in the United States and additional VAT and e-invoicing compliance challenges around the […]
Pawel Smolarkiewicz, chief product office at Sovos, will speak on the digital transformation of tax and its effect on SAP S/4HANA at next week’s SAPPHIRE conference in Orlando. As countries make continuous tax compliance the new normal, businesses are finding that they have to respond by putting tax compliance functionality at the core of […]
SAP Central Finance is driving migration to SAP S/4HANA as companies look to deliver value to their finance and accounting organizations, as well as improve on the configuration of previous financial systems. And for most companies making the transition, tax compliance is a priority. In a recent survey by SAP Insider, 74 percent of SAP […]
SAP S/4HANA is the promised land for SAP customers: an entire suite of ERP functionality in one place with a single data store. The ability to run all ERP capabilities, both from SAP and non-SAP systems, from a single source represents delivery of a model IT professionals and SAP administrators have sought for years. Getting […]
Sovos being named a “Leader” in the IDC MarketScape: Worldwide Sales Tax and VAT Automation Applications 2019 Vendor Assessment is a validation of its current and future product and business strategy. For those who are less familiar with IDC and its vendor evaluation process, or who are more familiar with the Gartner Magic Quadrant or […]
Earlier this week, IDC released its first-ever MarketScape Report, “IDC MarketScape: Worldwide SaaS and Cloud-Enabled Sales Tax and VAT Automation Applications 2019 Vendor Assessment,” focused on global tax compliance software, signaling two things at a crucial moment in the digital transformation of tax: Modern tax technology is an important part of the digital financial core […]