Sovos Celebrates a Successful Black Friday/Cyber Monday Weekend

When the demands of retailers were highest, this Black Friday/Cyber Monday weekend Sovos delivered fast, accurate sales tax calculations so clients could reach their revenue goals.

The last weekend of November can be a trying time for retailers. Every year there seems to be a bigger push for more extreme and extended sales around Black Friday. Sales during Black Friday weekend continue to grow in both revenue and the length of time retailers are willing to discount their products, for both brick and mortar and online retailers alike. Keeping up with the technical and compliance demands of such complex product offerings and increased traffic can be a challenge.

Because of the continued sales growth during the holiday weekend, some retailers have begun to rely on Black Friday to help them make up for otherwise unremarkable sales numbers. Customer experience and speed of transactions are critical to success and interruptions to accurately completing transactions can be disastrous in terms of both revenue and public perception; it’s imperative to make sure everything goes smoothly from Black Friday all the way through Cyber Monday. This year, Sovos is proud to announce that we helped our clients do just that.

This year and in years past, we’ve heard the horror stories of retailers’ systems going down during this crucial sales period. With nearly a 40% increase in transactions over last year, Sovos’ systems were up 100% of the time over the 4-day period. During that time, our systems calculated millions of transactions with an average response time of 72.5ms from our servers. This is all thanks to our increased network capacity and our industry-leading team here at Sovos. As a company, we couldn’t be more proud of the service we were able to provide to our partners in many of the largest retail companies in the world, in their stores and on their websites.

For a more in-depth look at our performance this past weekend, take a moment to check out the infographic below. If you think that your company could benefit from an accurate and more stable compliance solution, please click here to contact a member of our team.

Sovos-Black-Friday-2015-Infographic

The post Sovos Celebrates a Successful Black Friday/Cyber Monday Weekend appeared first on Sovos Compliance.

E-Invoicing Compliance EMEA Spain VAT & Fiscal Reporting
June 10, 2019
Fortune: Sovos plans to Acquire Foriba

Learn more about our intention to acquire the Istanbul-based e-invoicing compliance leader, Foriba, in a recent Fortune Term Sheet article.

Read More
IPT Tax Information Reporting United States
June 10, 2019
Fortune: Sovos Acquires Eagle Technology Management

Fortune Term Sheet covers our recent acquisition of Eagle Technology Management.

Read More
Tax Information Reporting United States
May 29, 2019
Sovos Acquires Eagle Technology Management (ETM), Adding Unclaimed Property Reporting, Insurance Premium Tax, Statutory Reporting Solutions

Extended offerings will help solve toughest tax and regulatory compliance challenges for insurers, financial institutions and corporations BOSTON (PRWEB) MAY 29, 2019 Global tax software provider Sovos today announced it will acquire Eagle Technology Management (ETM), which provides statutory financial reporting and insurance premium tax software to insurers, and unclaimed property reporting solutions and services to financial institutions, […]

Read More
E-Invoicing Compliance EMEA
May 28, 2019
Sovos Acquires Foriba, Bringing Together Worldwide Pioneers of E-Invoicing Compliance

Acquisition strengthens Sovos’ position as a leading global solution for modern tax amid worldwide acceleration of continuous compliance mandates BOSTON (PRWEB) MAY 28, 2019 Global tax software provider Sovos today announced it will acquire Istanbul-based Foriba, a leading player in e-invoicing, e-delivery notes, e-receipts and periodic value-added tax (VAT) reporting in Turkey and beyond. Following Sovos’ recent acquisitions […]

Read More
Sales & Use Tax United States
May 17, 2019
Software survey: Sales tax in 2019

Accounting Today quotes Sovos VP of Regulatory Analysis & Design Charles Maniace on the challenges of sales and use tax compliance in 2019.

Read More