Sovos Acquires Escontech, Expands E-Invoicing and Electronic Compliance Verification Capabilities

October 5, 2022

Customers can securely process high volumes of documents for billing and electronic validation in real- time

BOSTON – October 5, 2022 – Global tax software provider Sovos today announced it has acquired Lima, Peru-based Escontech, one of the main leaders in the country in SaaS electronic invoicing and validation services for the issuance of electronic receipts. In the last five years, the company has specially focused on the integration of transactional solutions in Information Technology using world-class standards, achieving in the last two years the fastest growth in the ecosystem of Peruvian companies that provide this type of specialized services.

Escontech’s technology and positioning in the Peruvian market strengthen Sovos’ current capabilities and scope in this type of services, by efficiently covering and supporting major companies in areas such as banking, financial services, insurance, mass market, tolls, and other high transaction industries. The company has been approved as an Electronic Services Provider and Operator by the Peruvian Tax Administration (SUNAT), which allows it to support its users in the issuance, transformation and final computer verification of invoices, bills, and other electronic payment vouchers from a company’s administrative systems.

“Escontech will play an important role in our ability to provide customers in these regions, as well as globally, with the technology needed to process high volumes of documents securely for billing and electronic validation, while ensuring compliance with local regulations. These solutions will be a great complement to Sovos’ existing portfolio, simplify the integration process and be supported by the best professional services group in the industry,” said Alvaro Gonzalez, managing director, Latin America.

Leading companies and institutions rely on Escontech to validate their transactions quickly and securely, paving the way for frictionless commerce business environment. Together, Escontech and Sovos will help lead the fight against fraud while ensuring compliance in highly regulated industries.

“The group of professionals that make up the productive force of Escontech value with great enthusiasm to be part of a great global organization and leader such as Sovos. Since our beginnings in the provision of this type of specialized transactional services, we have sought to innovate with value, by delivering a user experience of quality and excellence, but mainly, of commitment and closeness. Now with Sovos’ vision, its technological and financial resources, its multi-territory presence, and its specialized human talent, we will contribute more efficiently to delivering satisfactory experiences to users in different areas and geographies,” said Rogelio Martinez, founder of Escontech.

Sovos is owned by Hg, the London-based specialist private equity investor focused on software and service businesses, and TA Associates. The terms of the deal were not disclosed.

###

About Sovos

Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe and is owned by Hg and TA Associates. For more information visit sovos.com/es and follow us on LinkedIn and Instagram.

About Escontech

Escontech is a company dedicated to the integration of information technology and security solutions through world-class standards. Throughout its history, the company has incorporated a special group of human talent that in the last 16 years has provided services to leading companies in Colombia, Ecuador, Peru, Venezuela, and the Caribbean.

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

Additional Press Releases

Tax Compliance Tax Information Reporting
February 11, 2025
Sovos Achieves Full SAP Certification for Its Indirect Tax Suite

ATLANTA – Sovos, the always-on compliance company, today announced that they have achieved full SAP certification for its Indirect Tax Suite, which includes VAT and Sales Tax determination, e-invoicing and filing. With Sovos’ Indirect Tax Suite, SAP customers can implement a unified, global tax compliance solution aligned to their S/4HANA migration strategy. Sovos empowers businesses to […]

Read more
February 6, 2025
Chris Clinton of Sovos Recognized on the Prestigious 2025 CRN® Channel Chiefs List

ATLANTA, GA, February 6, 2025 – Sovos, the always-on compliance company, today announced that CRN®, a brand of The Channel Company, has named Chris Clinton, Chief Partner Officer, to the prestigious 2025 CRN® Channel Chiefs list, which recognizes the IT vendor and distribution executives who are driving strategy and setting the channel agenda for their […]

Read more
ship alcohol
North America ShipCompliant
January 23, 2025
DtC Wine Shipping Declines in the Face of Industry Headwinds

Sovos and WineBusiness Analytics annual Direct-to-Consumer Wine Shipping Report shows drop as overall wine market downturns  ATLANTA – JANUARY 23, 2025 – With declining trends across the wine and overall beverage alcohol markets, the direct-to-consumer wine shipping channel faced a challenging year in 2024, according to the latest Direct-to-Consumer Wine Shipping Report from Sovos ShipCompliant and WineBusiness Analytics. The […]

Read more
SAP Clean Core implementation
North America VAT & Fiscal Reporting
January 14, 2025
Sovos Named a Leader in 2024 IDC MarketScape for Worldwide Value-Added Tax Management

ATLANTA – January 14, 2025 – Sovos, the always-on compliance company, has been named a Leader in the IDC MarketScape for Worldwide Value-Added Tax Management 2024 Vendor Assessment (Doc # US52732824, December 2024). The report noted, “Sovos VAT compliance solutions and services include full coverage for VAT reporting, continuous transaction control compliance, e-invoicing clearance, post-audit einvoicing, and […]

Read more
webianr - FR Nouvelle ere facturation electronique
North America
December 10, 2024
Sovos Names New Executive Leadership for Global Finance and Product Strategy Functions

David Woodworth and Swati Garodia selected to build and transform critical operation areas for global platform company ATLANTA, DECEMBER 10, 2024 – Sovos, the always-on compliance company, today announced the appointment of two executive leaders. David Woodworth joins Sovos as its chief financial officer (CFO), where he will lead all finance, accounting, tax and treasury […]

Read more