Earlier today, Sovos announced the acquisition of TLI Consulting, a German company that serves companies with transaction and tax determination needs that are too complex or costly to configure and maintain via native SAP functionality and in-house tax experts. This is a strategic acquisition with immediate and long-term implications for the customers we serve.
Immediate benefits for European headquartered companies running on SAP
TLI Consulting’s software extensions enhance native SAP VAT determination functionality, and its consultants have the deep integration and implementation expertise to ensure that SAP ECC or SAP S/4 HANA enterprise resource planning systems can seamlessly determine the right VAT decisions and tax codes for any outbound or inbound transaction.
Now, Sovos can scale the reach of TLI Consulting’s software solutions and consulting services beyond Germany to serve customers throughout Europe, where we have a growing team of technology, regulatory and go-to-market experts.
VAT determination: a critical capability for an increasingly complex challenge
TLI Consulting is our 9th acquisition in the past 12 months, and it helps tell the larger story of what Sovos is working to accomplish as we grow organically and through acquisition. We are on a journey to build end-to-end offerings that help businesses infuse trust in every transaction. That journey has included the acquisition and development of global solutions for continuous transaction controls (CTCs), like e-invoicing. It has also included VAT reporting and SAF-T solutions, and a Sovos Connect Once API for a seamless customer experience across systems that must comply with the tidal wave of real-time and e-audit VAT compliance mandates throughout Latin America and Europe.
Alongside those capabilities, VAT determination is a pillar of modern tax compliance, and often the first issue multinational companies tackle before addressing complex digital reporting and CTC needs.
Simpler tax determination for every transaction, in every jurisdiction
Our intention is to solve a global problem, and to do it by delivering technology solutions that leverage local expertise. Today, Sovos has a tax determination portfolio that helps customers meet modern indirect tax compliance challenges globally, including in Europe, the United States, Brazil and elsewhere. And we’ve now established operations in Germany with the acquisition of an experienced, talented team aligned to our mission to Solve Tax for Good®. Our new colleagues join more than 2,300 Sovos team members working in 14 countries toward that same goal. I welcome them, and look forward to continuing this important journey together.
Learn more about Sovos here.
