ATLANTA, September 12, 2024 – Sovos, the always-on compliance company, today announced the launch of UP Standard, a new solution that streamlines unclaimed property management for small and medium sized businesses. UP Standard enhances Sovos’ leading unclaimed property portfolio, offering SMBs an intuitive, ‘self-service’ compliance solution. With instant credit-card purchase, self-guided setup, and operational within minutes, UP Standard delivers immediate value to users, simplifying unclaimed property management in one easy-to-use solution.
“When it comes to unclaimed property, small and medium-sized businesses face the same compliance risks and regulatory requirements as large enterprises,” said Alice Katwan, president, revenue, Sovos. “As states increasingly enforce unclaimed property reporting obligations, many SMBs are finding themselves unprepared for the challenges of compliance which makes UP Standard such a powerful tool.”
UP Standard provides unclaimed property administrators with instant access to an intuitive user experience that allows them to easily import, analyze, report, and manage their unclaimed property. The solution includes comprehensive validations to ensure data accuracy and compliance with all state regulations, as well as the ability to generate and electronically file reports with more than 30+ states right from the software.
“We’re making complete unclaimed property reporting and compliance accessible for every small and medium-sized business,” said Ryan Buma, vice president, marketplace & ecommerce, Sovos. “UP Standard simplifies the buying process, uplevels the onboarding and setup process, and cuts through the complexity to deliver hassle-free, and cost-effective unclaimed property management.”
This latest product release further expands Sovos’ growing portfolio of compliance solutions built for SMBs. With eCommerce offerings that cover 1099 reporting, tax identity management, and now unclaimed property, Sovos continues to deliver on our goal of providing seamless compliance for businesses of all sizes.
UP Standard is available for purchase through Sovos.com, with subscription plans starting at $699 a year.
About Sovos
Sovos is transforming compliance from a business requirement to a force for growth. Our flagship product, the Sovos Compliance Cloud platform, enables businesses to identify, determine, and report on every tax obligation across the globe. Sovos processes 16 billion+ transactions per year, helping companies scale their compliance strategy in almost 200 countries.
More than 100,000 customers – including half the Fortune 500 – trust Sovos’ tax and regulatory expertise and unparalleled integration with their business applications. Learn more at sovos.com.
