The Only Global Solution for E-Invoicing Compliance

Value-added tax (VAT) is the most significant indirect tax for nearly every country on earth, but massive amounts go uncollected every year. In Europe, the annual VAT gap is similar to the GDP of Norway.

manage complex regulations

Ensuring e-invoicing compliance in more than 60 countries

To help communities thrive, governments around the world are embracing e-invoicing controls designed to close the VAT gap, but every country writes its regulations differently. Because there are no global rules for enforcement, compliance is notoriously complex — especially for multinational companies.

The other digital transformation

There is a right way and a wrong way to get real-time tax compliance done.

The move toward continuous and real-time tax compliance pushes businesses toward a digital transformation you might not have anticipated but to which you must quickly adapt.

Fragmented enterprise systems, technologies and processes make it hard to prosper in a world of modern tax.

Keep your business running smoothly, all over the world, with the only scalable, end-to-end solution capable of ensuring compliance in more than 60 countries.

Local knowledge, global reach

Covering 60+ countries

Stay ahead of the requirements and laws coming next in each country with clearance and post-audit expertise, and global coverage.

Nimble response for a dynamic landscape

With a hybrid cloud model and customization to seamlessly deliver regulatory updates, you'll have minimal need for IT involvement.

Embedded in the business process platforms you use today

More than 60 business process platform vendors offer Sovos e-invoicing compliance solutions.

Benefits of the Sovos S1 Platform

Lower costs

Reduce the IT costs of compliance support by up to 84 percent, and lower your transactional unit costs.

Simplified operations

With a single platform for managing accounts receivable, accounts payable, e-archiving and VAT reporting, boost employee productivity by 25 percent.

Decreased risk of penalties & reputational damage

Automate processes and verifications for clearance and post-audit countries, and link to all related documents, from purchase order to invoice to tax reporting.

Customers

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E-Invoicing Compliance
June 24, 2019
Indian GST Council Confirms Plan to Roll out B2B E-invoicing System

Last week, the Indian GST Council convened for its 35th session, this time chaired by the recently appointed finance minister, Nirmala Sitharaman. As expected, the topic of a nationwide mandatory B2B e-invoicing system was on the agenda, and the GST council confirmed two important principles: Scope: The e-invoicing system will cover only B2B transactions to […]

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Is India on a Path toward Mandatory B2B E-invoicing?

As more and more countries across the world depend on VAT, GST or other indirect taxes as the single most significant source of public revenue, governments are increasingly asking themselves what technical means they can use to ensure that they maximize the collection of the taxes due under the new tax regimes. India is the […]

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Italy has been at the forefront of B2G e-invoicing in Europe ever since the central e-invoicing platform SDI (Sistema di Interscambio) was rolled out and made mandatory for all suppliers to the public sector in 2014. While a number of its European neighbors are slowly catching up, Italy is continuing to improve the integration of […]

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French VAT Fraud Prevention Package to Include a New Attempt to Mandate B2B E-invoicing

The French Minister of Public Accounts and Action, which has authority over all tax matters, has taken advantage of the process that is required to transpose the EU E-Commerce Directive to launch a number of initiatives to curb VAT fraud, including a renewed attempt to create a system of mandatory e-invoicing. Going from B2G to […]

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France: New Mandatory Invoice Content Requirements Introduced

To help reduce delays in the payment of invoices, the French authorities by Ordinance No. 2019-359 of 24 April 2019 have clarified their invoicing rules to include two new mandatory content requirements.  These are in addition to those already in place. Effective from April 2019 the two new requirements stipulated in the France invoice mandate […]

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Italy’s E-Invoicing Mandate Extends to San Marino

Since Italy’s electronic invoicing mandate was introduced at the start of this year, suppliers performing cross-border transactions have been exempt from this obligation.  This is about to change as Italy and the enclaved country of San Marino will shortly agree on mutual mechanisms to allow the use of e-invoices for transactions between the two countries […]

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Clearance-model e-invoicing will sweep the globe because it works – at least for tax administrations. With the VAT gap opening to more than half a trillion dollars worldwide, governments around the world are likely to follow the Latin American model of tax authorities inserting themselves into transactions. A new report from Bruno Koch at industry […]

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How to Get Control of Your Invoice Archives: It’s Not Too Late

We all know that invoicing processes are increasingly tangled up in real-time and other complex tax requirements around the world. However, when you ask companies if they are in control of the storage of their accounts payable and accounts receivable invoices, you often get somewhat surprised—if not vaguely insulted—reactions. Really, what kind of company doesn’t […]

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With Foriba Acquisition, Sovos Strengthens Position in Modern Tax Software

Today, we announced Sovos will acquire Istanbul-based Foriba, bringing another global pioneer of e-invoicing compliance into the Sovos solution. The Foriba acquisition marks a milestone for Sovos and for our customers around the world, who face a monumental shift in digital taxation. As tax administrations accelerate adoption of continuous compliance, businesses are dealing with the […]

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Colombia’s new electronic invoicing mandate serves as another reminder to SAP that compliance has to be at the heart of digital transformation efforts and migrations to SAP S/4HANA. The South American country, following the lead of Latin American neighbors Brazil and Mexico, is moving from a reporting e-invoicing model to a clearance model. Effectively, that means […]

“Our biggest challenge was that Philips had a global IT architecture and strategy based on our ERP platform… the international team not only approved the adoption of the [Sovos] system; the solution became part of the overall architecture strategy.”

Alexander Quinze

CIO & Head of Operational Excellence at Royal Philips