Unique software architecture, development framework and cloud infrastructure enables tax compliance in key business processes, connects with governments Boston, June 4, 2018 — Sovos, a leading global provider of tax software, today revealed its S1 cloud platform, which aims to drive the modernization of tax software in the face of
Earlier today, we announced that Sovos has acquired U.K.-based FiscalReps, Europe’s leading solution for Insurance Premium Tax (IPT) compliance. The acquisition does a few important things for our clients and the market as a whole: It adds IPT to our global solution for insurance companies, helping those businesses consolidate solutions
In June 2016, Sovos Compliance acquired Invoiceware International, supplementing our Latin American regional compliance platform with its global solutions. Our shared clients, such as The Coca-Cola Company, Brown-Forman, and Sun Chemical are already benefitting from the centralized solutions provided by this alliance. While Sovos offers a variety of products that
While many others were out enjoying summer, a major acquisition has taken place that affects the enterprise sales tax reporting industry. Oracle has acquired the e-commerce software company NetSuite. In a deal worth $9.3 billion, NetSuite was one of the first “cloud” companies. Larry Ellison, the chairman of Oracle chairman,
The Company- Fortune 500 Pharmaceutical multi-national
With electronic invoicing sweeping Europe and much of the rest of the globe just as it did Latin America, organizations need to be prepared to meet the challenges of new mandates. The 2018 Sovos TrustWeaver global e-invoicing eBook leaves absolutely no stone unturned in offering the most comprehensive information and
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
By Andy Hovancik – President & CEO Today, we announced the acquisition of Stockholm-based TrustWeaver to create a clear leader in modern tax software. TrustWeaver has become a seal of approval for the world’s largest procure-to-pay and AP systems. This is a testament not only to the effectiveness of its
Like many of you, I read the news that Vertex had officially moved forward with plans to acquire Pagero with interest. This hardly comes as a surprise. These two companies already had a commercial relationship and since their October public announcement of a strategic partnership, a number of industry insiders
As the U.S. economy teeters on a recession and budget shortfalls emerge, states begin searching for ways to expand sales tax revenue. Companies that offer subscription streaming services are increasingly finding themselves the targets of newly proposed taxes and attempts to expand and contort existing taxes to include streaming providers.
As a business, complying with local laws, rules and mandates is not optional, but a requirement to operate. Achieving this takes resources: human, technical and financial. All things that everyone would rather allocate to attracting new customers and growing their business. At Sovos, we get it. The situation The world
Credit.org recently released an excellent article on the five dangers of credit card use. In reviewing the factors that author Melinda Opperman puts forth, it was impossible to ignore the parallels in which many businesses approach their compliance management practices. As credit cards are something that most people have and
Intrastat is an obligation created in 1993 that applies to certain businesses that trade internationally in the European Union. Specifically, it relates to the movement of goods – arrivals and dispatches – across EU Member States. The requirements of Intrastat remain similar across the EU, though certain Member States have
In addition to selling automated solutions, software-as-a-service (SaaS) companies often provide a variety of related services, including configuration, implementation, training, testing, bug fixes, technical support, and software enhancements. Each of these services could have sales tax consequences different from those applicable to the underlying software. Even more challenging, the rules
While the wave of litigation to remove legal barriers to retailer direct-to-consumer (DtC) keeps crashing against the breakwaters of district courts, a recent ripple in the courts may signal a potential shift in rules around self-distribution, which could have deep effects on the industry in the years to come. First,
Businesses use software for everything, and for many companies, the aggregate cost of all their software licenses represents an enormous expense. When purchasers of business software acquire or renew their license, negotiations around the total price of the solution are often rigorous and sometimes even contentious. This is understandable as
What is TicketBAI? TicketBAI is a joint project of the Provincial Treasuries and the Government of the Basque Country with the objective of implementing a series of legal and technical obligations for the taxpayers’ invoicing software. These obligations allow the tax authorities to control their economic activities, especially those in
When most businesses think of unclaimed property, they likely consider outstanding checks issued from primary operating accounts, overlooking other sources that may hold potential exposure. Failure to recognize these exposures could result in significant interest and penalty assessments once discovered. Some of the most overlooked sources of potential unclaimed property